Piper Sandler Companies (NYSE:PIPR) Raised to “Buy” at The Goldman Sachs Group

Piper Sandler Companies (NYSE:PIPR) was upgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm currently has a $386.00 target price on the financial services provider’s stock, up from their previous target price of $368.00. The Goldman Sachs Group’s target price suggests a potential upside of 14.95% from the stock’s previous close.

PIPR has been the topic of a number of other reports. Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. Zacks Research raised Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Piper Sandler Companies has an average rating of “Moderate Buy” and a consensus price target of $362.50.

Piper Sandler Companies Stock Up 0.2%

Piper Sandler Companies stock opened at $335.79 on Monday. The business’s 50-day simple moving average is $340.07 and its 200 day simple moving average is $305.73. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 28.34 and a beta of 1.50. Piper Sandler Companies has a 12-month low of $202.91 and a 12-month high of $374.77.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 31st. The financial services provider reported $3.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.96 by $0.86. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. The company had revenue of $455.31 million for the quarter, compared to the consensus estimate of $408.40 million. During the same period in the prior year, the company posted $2.57 EPS. The company’s revenue was up 33.3% compared to the same quarter last year. As a group, sell-side analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Insider Activity

In other news, President Debbra L. Schoneman sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $330.33, for a total transaction of $825,825.00. Following the sale, the president owned 2,896 shares of the company’s stock, valued at $956,635.68. This trade represents a 46.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.70% of the stock is owned by company insiders.

Institutional Trading of Piper Sandler Companies

Large investors have recently bought and sold shares of the business. CENTRAL TRUST Co bought a new position in Piper Sandler Companies in the second quarter valued at approximately $28,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Piper Sandler Companies by 495.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 104 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Piper Sandler Companies during the second quarter worth $31,000. Whittier Trust Co. bought a new stake in Piper Sandler Companies in the 3rd quarter valued at $31,000. Finally, AdvisorNet Financial Inc boosted its stake in Piper Sandler Companies by 48.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 37 shares during the period. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Company Profile

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. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.