PJT Partners (NYSE:PJT) Raised to “Buy” at The Goldman Sachs Group

PJT Partners (NYSE:PJT) was upgraded by The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $170.00 price objective on the financial services provider’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 21.09% from the stock’s current price.

A number of other brokerages also recently weighed in on PJT. Zacks Research downgraded shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Keefe, Bruyette & Woods increased their price target on shares of PJT Partners from $186.00 to $188.00 and gave the company a “market perform” rating in a research note on Thursday, January 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of PJT Partners in a report on Thursday, January 22nd. Wolfe Research restated an “underperform” rating and issued a $150.00 price objective on shares of PJT Partners in a research report on Wednesday, January 7th. Finally, Wall Street Zen lowered PJT Partners from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, PJT Partners currently has an average rating of “Hold” and a consensus price target of $174.00.

PJT Partners Stock Performance

PJT Partners stock opened at $140.39 on Wednesday. The business’s fifty day moving average is $149.76 and its two-hundred day moving average is $165.82. The firm has a market cap of $3.39 billion, a P/E ratio of 21.14 and a beta of 0.88. PJT Partners has a 52 week low of $119.76 and a 52 week high of $195.62.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, February 3rd. The financial services provider reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.14. PJT Partners had a return on equity of 31.69% and a net margin of 10.51%.The company had revenue of $535.16 million during the quarter, compared to analyst estimates of $533.32 million. During the same period last year, the company posted $1.90 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts predict that PJT Partners will post 6.2 earnings per share for the current year.

Institutional Investors Weigh In On PJT Partners

A number of institutional investors have recently made changes to their positions in PJT. Royal Bank of Canada raised its position in shares of PJT Partners by 45.7% in the 1st quarter. Royal Bank of Canada now owns 11,471 shares of the financial services provider’s stock valued at $1,581,000 after acquiring an additional 3,596 shares during the period. AQR Capital Management LLC increased its stake in PJT Partners by 57.7% in the first quarter. AQR Capital Management LLC now owns 7,330 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 2,681 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in PJT Partners by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,887 shares of the financial services provider’s stock valued at $1,915,000 after purchasing an additional 620 shares in the last quarter. Millennium Management LLC raised its holdings in PJT Partners by 1,394.5% in the first quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider’s stock worth $7,247,000 after purchasing an additional 49,046 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of PJT Partners by 5.6% during the first quarter. Goldman Sachs Group Inc. now owns 370,536 shares of the financial services provider’s stock worth $51,090,000 after purchasing an additional 19,806 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

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.