Zacks: Analysts Set $45.00 Target Price for PJT Partners Inc. (PJT)

Shares of PJT Partners Inc. (NYSE:PJT) have earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Analysts have set a twelve-month consensus target price of $45.00 for the company and are predicting that the company will post $0.73 earnings per share for the current quarter, according to Zacks. Zacks has also given PJT Partners an industry rank of 175 out of 265 based on the ratings given to related companies.

A number of analysts have recently issued reports on PJT shares. BidaskClub downgraded shares of PJT Partners from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of PJT Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, JMP Securities initiated coverage on shares of PJT Partners in a research note on Monday, September 18th. They issued an “outperform” rating and a $45.00 price target for the company.

PJT Partners (NYSE:PJT) traded up $0.15 during midday trading on Friday, hitting $39.80. 43,502 shares of the stock were exchanged, compared to its average volume of 87,461. PJT Partners has a 52 week low of $28.84 and a 52 week high of $45.38. The company has a market cap of $740.09, a P/E ratio of 27.45, a P/E/G ratio of 1.64 and a beta of 0.36.

PJT Partners declared that its board has initiated a share repurchase plan on Tuesday, October 31st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Tuesday, December 5th. PJT Partners’s payout ratio is 33.90%.

Several hedge funds have recently added to or reduced their stakes in PJT. Penn Capital Management Co. Inc. purchased a new position in shares of PJT Partners in the second quarter valued at about $7,551,000. Maltese Capital Management LLC increased its position in shares of PJT Partners by 395.4% during the third quarter. Maltese Capital Management LLC now owns 204,292 shares of the financial services provider’s stock valued at $7,826,000 after buying an additional 163,056 shares during the period. FMR LLC increased its position in shares of PJT Partners by 41.1% during the second quarter. FMR LLC now owns 514,349 shares of the financial services provider’s stock valued at $20,687,000 after buying an additional 149,881 shares during the period. Renaissance Technologies LLC increased its position in shares of PJT Partners by 33.6% during the second quarter. Renaissance Technologies LLC now owns 503,900 shares of the financial services provider’s stock valued at $20,267,000 after buying an additional 126,700 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in shares of PJT Partners during the second quarter valued at about $4,954,000. Hedge funds and other institutional investors own 58.57% of the company’s stock.

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PJT Partners Company Profile

PJT Partners Inc is an advisory-focused investment bank. The Company offers an array of strategic advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments. It provides, through Park Hill Group, private fund advisory and placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds.

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