Zacks Investment Research Lowers PJT Partners (NYSE:PJT) to Sell

Zacks Investment Research lowered shares of PJT Partners (NYSE:PJT) from a hold rating to a sell rating in a report released on Friday, Zacks.com reports.

According to Zacks, “PJT Partners Inc. is a financial advisory firm. The Company offers strategic advisory, restructuring and reorganization, fund placement and funds advisory services to corporations, financial sponsors, institutional investors and governments. PJT Partners Inc. is based in NEW YORK, United States. “

Separately, Buckingham Research reduced their price objective on shares of PJT Partners from $49.00 to $42.00 and set a neutral rating for the company in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $56.00.

Shares of NYSE:PJT opened at $36.84 on Friday. The company’s 50 day moving average price is $39.51. The stock has a market capitalization of $873.99 million, a PE ratio of 19.29, a P/E/G ratio of 0.69 and a beta of 1.26. PJT Partners has a 12 month low of $35.28 and a 12 month high of $61.18. The company has a current ratio of 5.13, a quick ratio of 5.13 and a debt-to-equity ratio of 0.38.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.04). The firm had revenue of $128.06 million for the quarter. PJT Partners had a net margin of 4.01% and a return on equity of 15.66%. On average, equities analysts anticipate that PJT Partners will post 2.19 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Ropes Wealth Advisors LLC bought a new stake in shares of PJT Partners in the 1st quarter worth approximately $42,000. Pittenger & Anderson Inc. lifted its holdings in shares of PJT Partners by 5,639.1% in the 1st quarter. Pittenger & Anderson Inc. now owns 1,320 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 1,297 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of PJT Partners by 49.3% in the 4th quarter. Advisor Group Inc. now owns 2,415 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 797 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of PJT Partners by 40.5% in the 1st quarter. Parallel Advisors LLC now owns 2,583 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 745 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of PJT Partners in the 1st quarter worth approximately $125,000. Hedge funds and other institutional investors own 62.92% of the company’s stock.

About PJT Partners

PJT Partners Inc, an investment bank, provides various strategic advisory, shareholder engagement, 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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