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 note issued to investors 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. “

A number of other research firms also recently commented on PIPR. Northland Securities decreased their price objective on shares of Piper Sandler Companies from $185.00 to $175.00 in a report on Friday, February 11th. JMP Securities decreased their price objective on shares of Piper Sandler Companies from $194.00 to $182.00 and set a “market outperform” rating on the stock in a report on Thursday, April 7th. Finally, StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $181.20.

PIPR stock opened at $131.51 on Friday. The company has a market cap of $2.36 billion, a P/E ratio of 8.51 and a beta of 1.40. Piper Sandler Companies has a 52 week low of $110.45 and a 52 week high of $193.60. The company’s 50-day moving average price is $123.62 and its 200 day moving average price is $148.04. The company has a current ratio of 1.48, a quick ratio of 0.71 and a debt-to-equity ratio of 0.11.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. BerganKDV Wealth Management LLC lifted its holdings in shares of Piper Sandler Companies by 196.5% in the first quarter. BerganKDV Wealth Management LLC now owns 255 shares of the company’s stock valued at $33,000 after purchasing an additional 169 shares in the last quarter. CWM LLC purchased a new position in shares of Piper Sandler Companies during the fourth quarter valued at approximately $47,000. Missouri Trust & Investment Co purchased a new position in shares of Piper Sandler Companies during the fourth quarter valued at approximately $109,000. USA Financial Portformulas Corp purchased a new position in shares of Piper Sandler Companies during the fourth quarter valued at approximately $119,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Piper Sandler Companies during the fourth quarter valued at approximately $216,000. 66.34% of the stock is currently owned by institutional investors.

Piper Sandler Companies Company Profile (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.

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