PJT Partners (NYSE:PJT) Rating Lowered to Hold at Zacks Research

PJT Partners (NYSE:PJT) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of PJT Partners from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of PJT Partners in a research report on Wednesday, October 8th. Evercore ISI set a $180.00 target price on PJT Partners in a research report on Monday, October 13th. BMO Capital Markets assumed coverage on PJT Partners in a research note on Friday, October 3rd. They set an “outperform” rating and a $205.00 target price on the stock. Finally, UBS Group initiated coverage on PJT Partners in a research note on Thursday, December 11th. They issued a “neutral” rating and a $180.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, PJT Partners presently has an average rating of “Hold” and a consensus price target of $187.75.

PJT Partners Price Performance

NYSE:PJT opened at $181.25 on Monday. The firm has a market capitalization of $4.41 billion, a P/E ratio of 27.88 and a beta of 0.84. The business has a 50 day simple moving average of $168.91 and a 200 day simple moving average of $174.85. PJT Partners has a 12-month low of $119.76 and a 12-month high of $190.27.

PJT Partners (NYSE:PJT) last posted its earnings results on Tuesday, November 4th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.61. The company had revenue of $447.09 million for the quarter, compared to analysts’ expectations of $386.76 million. PJT Partners had a return on equity of 29.66% and a net margin of 10.75%. Research analysts anticipate that PJT Partners will post 6.2 EPS for the current fiscal year.

Hedge Funds Weigh In On PJT Partners

A number of institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in PJT Partners by 28.5% during the third quarter. JPMorgan Chase & Co. now owns 110,454 shares of the financial services provider’s stock valued at $19,631,000 after buying an additional 24,502 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in PJT Partners in the 3rd quarter worth approximately $436,000. Caxton Associates LLP grew its position in PJT Partners by 42.8% during the 3rd quarter. Caxton Associates LLP now owns 4,681 shares of the financial services provider’s stock worth $832,000 after purchasing an additional 1,404 shares in the last quarter. Voleon Capital Management LP acquired a new stake in PJT Partners during the 3rd quarter valued at $1,018,000. Finally, Voloridge Investment Management LLC raised its stake in PJT Partners by 96.7% during the 3rd quarter. Voloridge Investment Management LLC now owns 45,528 shares of the financial services provider’s stock valued at $8,092,000 after purchasing an additional 22,386 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Company Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.