Piper Sandler Companies (NYSE:PIPR) Raised to “Buy” at Wall Street Zen

Piper Sandler Companies (NYSE:PIPR) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other equities analysts have also recently weighed in on the stock. Wolfe Research reissued an “outperform” rating and set a $398.00 price target on shares of Piper Sandler Companies in a research report on Wednesday, January 7th. Bank of America began coverage on Piper Sandler Companies in a report on Monday, January 26th. They set an “underperform” rating and a $385.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a report on Friday, January 23rd. The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $368.00 to $386.00 in a report on Monday, November 10th. Finally, Zacks Research raised Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $389.67.

Piper Sandler Companies Trading Down 6.5%

NYSE:PIPR opened at $305.45 on Tuesday. Piper Sandler Companies has a 1-year low of $202.91 and a 1-year high of $380.26. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 1.81 and a beta of 1.53. The business’s 50-day moving average price is $349.13 and its two-hundred day moving average price is $340.57.

Piper Sandler Companies shares are scheduled to split on the morning of Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly issued shares will be payable to shareholders after the market closes on Monday, March 23rd.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, February 6th. The company reported $6.88 EPS for the quarter, beating analysts’ consensus estimates of $4.72 by $2.16. Piper Sandler Companies had a return on equity of 22.50% and a net margin of 14.77%.The company had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $516.52 million. During the same period in the prior year, the business posted $4.80 EPS. Piper Sandler Companies’s revenue was up 27.4% on a year-over-year basis.

Insider Activity

In related news, President Debbra L. Schoneman sold 5,240 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $350.99, for a total transaction of $1,839,187.60. Following the completion of the transaction, the president directly owned 2,896 shares of the company’s stock, valued at approximately $1,016,467.04. This represents a 64.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chad R. Abraham sold 4,400 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $337.60, for a total value of $1,485,440.00. Following the transaction, the chief executive officer directly owned 53,558 shares in the company, valued at $18,081,180.80. This trade represents a 7.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,640 shares of company stock valued at $4,333,258 in the last 90 days. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Piper Sandler Companies

A number of institutional investors have recently added to or reduced their stakes in PIPR. EverSource Wealth Advisors LLC grew its position in shares of Piper Sandler Companies by 89.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its stake in shares of Piper Sandler Companies by 1,440.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company’s stock valued at $26,000 after buying an additional 72 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Piper Sandler Companies during the fourth quarter worth approximately $28,000. UMB Bank n.a. grew its position in Piper Sandler Companies by 55.2% during the fourth quarter. UMB Bank n.a. now owns 90 shares of the company’s stock worth $31,000 after buying an additional 32 shares in the last quarter. Finally, Whittier Trust Co. bought a new position in Piper Sandler Companies during the 3rd quarter worth $31,000. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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.