Bank of America Boosts PJT Partners (PJT) Price Target to $60.00

PJT Partners (NYSE:PJT) had its price target increased by Bank of America from $55.00 to $60.00 in a report issued on Thursday, April 12th. Bank of America currently has a buy rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. Sandler O’Neill set a $55.00 price objective on shares of PJT Partners and gave the company a buy rating in a research note on Thursday, January 11th. Zacks Investment Research downgraded shares of PJT Partners from a strong-buy rating to a hold rating in a report on Wednesday, April 11th. Finally, Buckingham Research assumed coverage on shares of PJT Partners in a report on Wednesday, January 3rd. They set a neutral rating and a $51.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $54.80.

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Shares of PJT Partners stock traded up $0.26 during trading on Thursday, hitting $54.66. The company’s stock had a trading volume of 114,344 shares, compared to its average volume of 140,496. The firm has a market cap of $1,022.20, a price-to-earnings ratio of 35.55 and a beta of 0.36. PJT Partners has a 52 week low of $34.11 and a 52 week high of $55.13.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.12. The company had revenue of $190.55 million during the quarter. PJT Partners had a negative net margin of 6.52% and a positive return on equity of 319.40%. equities analysts anticipate that PJT Partners will post 2.58 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Wednesday, March 7th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend was Tuesday, March 6th. PJT Partners’s payout ratio is 12.99%.

In related news, General Counsel James W. Cuminale sold 2,816 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $48.05, for a total value of $135,308.80. Following the transaction, the general counsel now owns 49,502 shares of the company’s stock, valued at $2,378,571.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.01% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of PJT. SG Americas Securities LLC purchased a new position in shares of PJT Partners in the third quarter worth approximately $168,000. Teacher Retirement System of Texas purchased a new position in PJT Partners during the fourth quarter valued at approximately $275,000. SeaCrest Wealth Management LLC purchased a new position in PJT Partners during the fourth quarter valued at approximately $317,000. MetLife Investment Advisors LLC purchased a new position in PJT Partners during the fourth quarter valued at approximately $355,000. Finally, AMP Capital Investors Ltd purchased a new position in PJT Partners during the third quarter valued at approximately $429,000. 59.03% of the stock is currently owned by institutional investors.

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About PJT Partners

PJT Partners Inc provides various strategic advisory, restructuring and special situations, and private fund advisory and placement services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers a range of financial advisory and transaction execution capability, including mergers and acquisitions, joint ventures, minority investments, asset swaps, divestitures, takeover defenses, corporate finance advisory, private placements, and distressed sales.

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