Piper Sandler Companies (NYSE:PIPR) Rating Lowered to Hold at Wall Street Zen

Piper Sandler Companies (NYSE:PIPR) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

PIPR has been the subject of several other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Friday, January 23rd. Zacks Research cut shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Bank of America started coverage on Piper Sandler Companies in a research report on Monday, January 26th. They set an “underperform” rating and a $385.00 price target on the stock. Wolfe Research reaffirmed an “outperform” rating and issued a $398.00 price objective on shares of Piper Sandler Companies in a report on Wednesday, January 7th. Finally, The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and upped their target price for the company from $368.00 to $386.00 in a research report on Monday, November 10th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $389.67.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $345.72 on Friday. The firm has a market cap of $6.12 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 1.12 and a beta of 1.54. Piper Sandler Companies has a 52 week low of $202.91 and a 52 week high of $380.26. The firm’s 50-day simple moving average is $349.18 and its 200 day simple moving average is $337.64.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, October 31st. The company reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.96 by $0.86. The company had revenue of $455.31 million during the quarter, compared to analysts’ expectations of $408.40 million. Piper Sandler Companies had a return on equity of 19.91% and a net margin of 13.73%.The business’s revenue was up 33.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.57 earnings per share.

Insider Activity at Piper Sandler Companies

In related news, CFO Katherine Patricia Clune sold 1,367 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $324.69, for a total transaction of $443,851.23. Following the completion of the transaction, the chief financial officer directly owned 10,425 shares in the company, valued at $3,384,893.25. This represents a 11.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Debbra L. Schoneman sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $330.33, for a total transaction of $825,825.00. Following the completion of the transaction, the president directly owned 2,896 shares of the company’s stock, valued at approximately $956,635.68. The trade was a 46.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 11,267 shares of company stock valued at $3,763,746. 2.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Piper Sandler Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of PIPR. First Citizens Bank & Trust Co. boosted its stake in shares of Piper Sandler Companies by 195.3% during the second quarter. First Citizens Bank & Trust Co. now owns 2,658 shares of the company’s stock valued at $739,000 after purchasing an additional 1,758 shares in the last quarter. American Century Companies Inc. raised its holdings in Piper Sandler Companies by 1,155.7% in the 2nd quarter. American Century Companies Inc. now owns 200,149 shares of the company’s stock valued at $55,630,000 after buying an additional 184,210 shares during the last quarter. Calamos Advisors LLC boosted its position in Piper Sandler Companies by 93.7% during the 3rd quarter. Calamos Advisors LLC now owns 6,147 shares of the company’s stock worth $2,133,000 after buying an additional 2,973 shares during the period. Fluent Financial LLC bought a new stake in Piper Sandler Companies during the 2nd quarter worth approximately $1,755,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Piper Sandler Companies by 63.0% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,084 shares of the company’s stock worth $8,357,000 after acquiring an additional 9,305 shares during the last quarter. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.