PJT Partners Inc. (NYSE:PJT) Receives $123.80 Consensus Price Target from Analysts

PJT Partners Inc. (NYSE:PJT - Get Free Report) has been given an average recommendation of "Reduce" by the six ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $123.80.

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $128.00 target price (up from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. The Goldman Sachs Group boosted their target price on PJT Partners from $115.00 to $132.00 and gave the company a "neutral" rating in a research note on Wednesday, July 31st. JMP Securities boosted their target price on PJT Partners from $142.00 to $150.00 and gave the company a "market outperform" rating in a research note on Wednesday, October 9th. Finally, UBS Group boosted their target price on PJT Partners from $110.00 to $120.00 and gave the company a "sell" rating in a research note on Tuesday, October 8th.

Insider Buying and Selling

In other PJT Partners news, Director Kievdi Don Cornwell sold 11,586 shares of PJT Partners stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the completion of the sale, the director now owns 8,339 shares of the company's stock, valued at approximately $1,029,783.11. The trade was a 58.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel David Adam Travin sold 1,541 shares of PJT Partners stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $159.18, for a total value of $245,296.38. The disclosure for this sale can be found here. In the last three months, insiders sold 28,367 shares of company stock valued at $3,633,828. Insiders own 11.71% of the company's stock.

Institutional Trading of PJT Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SouthState Corp acquired a new position in shares of PJT Partners in the 2nd quarter valued at about $26,000. Quarry LP increased its stake in PJT Partners by 186.3% during the 3rd quarter. Quarry LP now owns 209 shares of the financial services provider's stock worth $28,000 after buying an additional 136 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in PJT Partners during the 2nd quarter worth approximately $30,000. GAMMA Investing LLC increased its stake in PJT Partners by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider's stock worth $45,000 after buying an additional 146 shares in the last quarter. Finally, KBC Group NV increased its stake in PJT Partners by 113.0% during the 3rd quarter. KBC Group NV now owns 803 shares of the financial services provider's stock worth $107,000 after buying an additional 426 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

PJT Partners Price Performance

PJT stock traded down $0.76 during mid-day trading on Tuesday, reaching $155.54. 143,251 shares of the company traded hands, compared to its average volume of 233,735. The company has a market capitalization of $3.69 billion, a P/E ratio of 39.67 and a beta of 0.61. The company has a fifty day moving average price of $140.25 and a 200-day moving average price of $122.28. PJT Partners has a 52-week low of $82.64 and a 52-week high of $163.85.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.02. The business had revenue of $326.30 million for the quarter, compared to analysts' expectations of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The business's quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. As a group, analysts forecast that PJT Partners will post 4.4 EPS for the current year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Wednesday, December 4th. PJT Partners's payout ratio is 25.38%.

About PJT Partners

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.