Northland Securities Upgrades Piper Sandler Companies (NYSE:PIPR) to Outperform

Piper Sandler Companies (NYSE:PIPR) was upgraded by investment analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a $350.00 price target on the stock. Northland Securities’ price target points to a potential upside of 16.48% from the stock’s previous close.

A number of other brokerages have also recently weighed in on PIPR. The Goldman Sachs Group raised shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $368.00 to $386.00 in a research report on Monday, November 10th. Bank of America started coverage on Piper Sandler Companies in a research report on Monday, January 26th. They issued an “underperform” rating and a $385.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Friday, January 23rd. 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. Finally, Wall Street Zen upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $379.75.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR opened at $300.48 on Wednesday. The business has a 50-day moving average of $341.86 and a two-hundred day moving average of $339.36. The firm has a market capitalization of $5.35 billion, a PE ratio of 19.01, a P/E/G ratio of 1.67 and a beta of 1.54. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $380.26.

Shares of Piper Sandler Companies are set to split before the market opens on Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly minted shares will be distributed to shareholders after the closing bell on Monday, March 23rd.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, February 6th. The company reported $6.88 EPS for the quarter, beating the consensus estimate of $4.72 by $2.16. Piper Sandler Companies had a net margin of 14.77% and a return on equity of 21.85%. The firm had revenue of $635.00 million for the quarter, compared to analyst estimates of $516.52 million. During the same quarter last year, the firm posted $4.80 earnings per share. Piper Sandler Companies’s revenue for the quarter was up 27.4% compared to the same quarter last year.

Insider Activity

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 5,240 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $350.99, for a total transaction of $1,839,187.60. Following the transaction, the president directly owned 2,896 shares in the company, valued at $1,016,467.04. This represents a 64.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Piper Sandler Companies

A number of institutional investors have recently modified their holdings of PIPR. Norges Bank acquired a new position in shares of Piper Sandler Companies in the 4th quarter worth approximately $79,239,000. American Century Companies Inc. boosted its holdings in Piper Sandler Companies by 1,155.7% in the second quarter. American Century Companies Inc. now owns 200,149 shares of the company’s stock worth $55,630,000 after purchasing an additional 184,210 shares during the period. Franklin Resources Inc. acquired a new position in Piper Sandler Companies in the second quarter worth $51,021,000. Wellington Management Group LLP bought a new stake in Piper Sandler Companies during the third quarter valued at $38,425,000. Finally, Greenwich Wealth Management LLC raised its holdings in shares of Piper Sandler Companies by 415.1% during the second quarter. Greenwich Wealth Management LLC now owns 104,200 shares of the company’s stock worth $28,961,000 after purchasing an additional 83,971 shares during the period. Institutional investors and hedge funds 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.