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

PJT Partners Inc. (NYSE:PJT) shares hit 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 research reports. JMP Securities reaffirmed 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 upped their price target on shares of PJT Partners from $85.00 to $93.00 and gave the company a “sell” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $99.80.

Institutional Investors Weigh In On PJT Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the business. OLD National Bancorp IN purchased a new stake in PJT Partners in the 2nd quarter valued at about $204,000. Park Place Capital Corp purchased a new stake in PJT Partners in the 2nd quarter valued at about $205,000. Teachers Retirement System of The State of Kentucky increased its stake in 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 valued at $707,000 after buying an additional 2,900 shares during the last quarter. Woodson Capital Management LP increased its stake in 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 valued at $8,201,000 after buying an additional 7,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in 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 valued at $1,519,000 after buying an additional 839 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Stock Performance

The stock has a market cap of $2.70 billion, a PE ratio of 30.73 and a beta of 0.62. The company’s 50 day simple moving average is $105.19 and its 200 day simple moving average is $100.21.

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

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Wednesday, June 5th. 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.