PJT Partners Inc. (NYSE:PJT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, July 14th. The firm presently has a $47.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 15.54% from the stock’s previous close.
According to Zacks, “PJT Partners Inc. is a financial advisory firm. The Company offers strategic advisory, restructuring and reorganization, fund placement and funds advisory services to corporations, financial sponsors, institutional investors and governments. PJT Partners Inc. is based in NEW YORK, United States. “
Separately, Bank of America Corporation raised PJT Partners from a “neutral” rating to a “buy” rating and raised their price target for the stock from $39.00 to $45.00 in a research note on Thursday, May 11th.
PJT Partners (NYSE PJT) traded up 0.92% on Friday, hitting $40.68. 91,617 shares of the stock traded hands. The firm’s 50 day moving average is $41.57 and its 200 day moving average is $37.39. The stock’s market cap is $753.27 million. PJT Partners has a 52 week low of $23.52 and a 52 week high of $45.38.
PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by $0.07. PJT Partners had a negative net margin of 0.27% and a negative return on equity of 264.44%. The business had revenue of $109.31 million for the quarter. Equities analysts anticipate that PJT Partners will post $1.73 earnings per share for the current year.
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A number of institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc raised its position in shares of PJT Partners by 15.7% in the second quarter. IFP Advisors Inc now owns 2,688 shares of the financial services provider’s stock valued at $108,000 after buying an additional 365 shares during the period. Legal & General Group Plc increased its stake in shares of PJT Partners by 4.0% in the second quarter. Legal & General Group Plc now owns 4,375 shares of the financial services provider’s stock valued at $175,000 after buying an additional 169 shares in the last quarter. Strs Ohio increased its stake in shares of PJT Partners by 6.5% in the second quarter. Strs Ohio now owns 6,600 shares of the financial services provider’s stock valued at $265,000 after buying an additional 400 shares in the last quarter. Hartwell J M Limited Partnership bought a new stake in shares of PJT Partners during the second quarter valued at about $381,000. Finally, First Trust Advisors LP increased its stake in shares of PJT Partners by 0.8% in the second quarter. First Trust Advisors LP now owns 13,595 shares of the financial services provider’s stock valued at $547,000 after buying an additional 111 shares in the last quarter. 58.03% of the stock is owned by institutional investors and hedge funds.
PJT Partners Company Profile
PJT Partners Inc is an advisory-focused investment bank. The Company offers an array of strategic advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments. It provides, through Park Hill Group, private fund advisory and placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds.
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