Piper Jaffray Cos. (NYSE:PJC) shares were down 4.1% during trading on Friday . The company traded as low as $41.12 and last traded at $41.37, with a volume of 53,247 shares. The stock had previously closed at $43.15.

A number of research analysts recently commented on PJC shares. TheStreet cut Piper Jaffray Cos. from a “buy” rating to a “hold” rating in a report on Wednesday, May 25th. Sandler O’Neill cut Piper Jaffray Cos. from a “buy” rating to a “hold” rating in a report on Friday, April 15th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Piper Jaffray Cos. has an average rating of “Hold” and a consensus price target of $43.80.

The stock has a market cap of $617.04 million and a price-to-earnings ratio of 30.11. The stock has a 50 day moving average price of $39.95 and a 200-day moving average price of $41.59.

Piper Jaffray Cos. (NYSE:PJC) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.35. The firm earned $170.50 million during the quarter, compared to analyst estimates of $143.86 million. During the same period in the prior year, the company posted $1.19 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts expect that Piper Jaffray Cos. will post $3.58 earnings per share for the current year.

In other news, insider R Scott Larue sold 20,000 shares of the stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $41.76, for a total value of $835,200.00. Following the transaction, the insider now directly owns 79,653 shares of the company’s stock, valued at $3,326,309.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of hedge funds recently bought and sold shares of the company. Bank of Montreal Can raised its stake in Piper Jaffray Cos. by 3,579.6% in the fourth quarter. Bank of Montreal Can now owns 67,963 shares of the company’s stock valued at $2,745,000 after buying an additional 66,116 shares during the period. Rhumbline Advisers raised its stake in Piper Jaffray Cos. by 1.7% in the fourth quarter. Rhumbline Advisers now owns 27,951 shares of the company’s stock valued at $1,129,000 after buying an additional 465 shares during the period. Finally, California State Teachers Retirement System raised its stake in Piper Jaffray Cos. by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 27,976 shares of the company’s stock valued at $1,130,000 after buying an additional 400 shares during the period.

Piper Jaffray Companies is an investment bank and asset management firm serving the needs of corporations, private equity groups, public entities, non-profit entities and institutional investors in the United States and internationally. The Company provides products and services including equity and debt capital markets products, public finance services, financial advisory services, equity and fixed income institutional brokerage, equity and fixed income research and asset management services.

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