PJT Partners (NYSE:PJT) Reaches New 1-Year High Following Analyst Upgrade

PJT Partners Inc. (NYSE:PJT)’s share price reached a new 52-week high during trading on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $99.00 to $108.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. PJT Partners traded as high as $113.04 and last traded at $112.62, with a volume of 3726 shares changing hands. The stock had previously closed at $111.48.

PJT has been the topic of a number of other reports. JMP Securities restated a “market outperform” rating and set a $110.00 price target on shares of PJT Partners in a research report on Tuesday, April 9th. UBS Group increased their price target on PJT Partners from $85.00 to $93.00 and gave the stock a “sell” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $99.80.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. OLD National Bancorp IN bought a new position in PJT Partners in the 2nd quarter valued at $204,000. Park Place Capital Corp bought a new position in shares of PJT Partners in the 2nd quarter worth $205,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of PJT Partners by 63.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 7,500 shares of the financial services provider’s stock worth $707,000 after purchasing an additional 2,900 shares during the last quarter. Woodson Capital Management LP boosted its position in shares of PJT Partners by 8.8% in the 1st quarter. Woodson Capital Management LP now owns 87,000 shares of the financial services provider’s stock worth $8,201,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of PJT Partners by 5.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,108 shares of the financial services provider’s stock worth $1,519,000 after purchasing an additional 839 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

PJT Partners Stock Performance

The firm has a market capitalization of $2.70 billion, a P/E ratio of 30.73 and a beta of 0.62. The company has a 50-day moving average price of $105.19 and a 200-day moving average price of $100.21.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.53. PJT Partners had a return on equity of 17.36% and a net margin of 7.57%. The business had revenue of $329.39 million for the quarter, compared to analyst estimates of $229.32 million. During the same period last year, the company earned $0.54 EPS. The firm’s revenue was up 64.7% on a year-over-year basis. Equities analysts predict that PJT Partners Inc. will post 4 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were given a $0.25 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.89%. PJT Partners’s dividend payout ratio is currently 27.55%.

PJT Partners Company Profile

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.