Piper Sandler Companies (NYSE:PIPR) Lifted to Hold at Zacks Investment Research

Piper Sandler Companies (NYSE:PIPRGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday, Zacks.com reports.

According to Zacks, “Piper Jaffray Companies is a focused securities firm dedicated to delivering superior financial advice, investment products and transaction execution within selected sectors of the financial services marketplace. They operate through two primary revenue-generating segments: Capital Markets and Private Client Services. Investment Research, an independent group reporting to the CEO, supports clients of both segments. The firm serves corporations, government and non-profit entities, and institutional investors on a national basis. “

Other analysts also recently issued research reports about the stock. Northland Securities dropped their target price on shares of Piper Sandler Companies from $185.00 to $175.00 in a report on Friday, February 11th. JMP Securities decreased their price target on shares of Piper Sandler Companies from $194.00 to $182.00 and set a “market outperform” rating for the company in a research report on Thursday, April 7th. Finally, StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $181.20.

Piper Sandler Companies stock opened at $131.51 on Friday. Piper Sandler Companies has a fifty-two week low of $110.45 and a fifty-two week high of $193.60. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.71 and a current ratio of 1.48. The firm has a 50 day moving average price of $123.62 and a 200 day moving average price of $148.04. The company has a market capitalization of $2.36 billion, a PE ratio of 8.51 and a beta of 1.40.

Piper Sandler Companies (NYSE:PIPRGet Rating) last posted its earnings results on Friday, April 29th. The company reported $3.12 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.32. Piper Sandler Companies had a net margin of 13.57% and a return on equity of 33.25%. The firm had revenue of $361.79 million during the quarter, compared to the consensus estimate of $326.34 million. During the same quarter last year, the firm earned $4.13 EPS. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. As a group, equities research analysts forecast that Piper Sandler Companies will post 13.67 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in PIPR. BerganKDV Wealth Management LLC lifted its position in shares of Piper Sandler Companies by 196.5% during the 1st quarter. BerganKDV Wealth Management LLC now owns 255 shares of the company’s stock worth $33,000 after purchasing an additional 169 shares during the last quarter. CWM LLC purchased a new stake in shares of Piper Sandler Companies during the 4th quarter worth $47,000. Missouri Trust & Investment Co purchased a new stake in shares of Piper Sandler Companies during the 4th quarter worth $109,000. USA Financial Portformulas Corp purchased a new stake in shares of Piper Sandler Companies during the 4th quarter worth $119,000. Finally, Gotham Asset Management LLC purchased a new stake in shares of Piper Sandler Companies during the 3rd quarter worth $204,000. 66.34% of the stock is owned by institutional investors and hedge funds.

About Piper Sandler Companies (Get Rating)

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. The company offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.

Further Reading

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