Piper Jaffray Cos. (PJC) Sees Unusually-High Trading Volume
Shares of Piper Jaffray Cos. (NYSE:PJC) saw strong trading volume on Monday . 79,400 shares changed hands during mid-day trading, a decline of 6% from the previous session’s volume of 84,540 shares.The stock last traded at $43.78 and had previously closed at $43.53.
Separately, TheStreet upgraded shares of Piper Jaffray Cos. from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Piper Jaffray Cos. currently has an average rating of “Hold” and an average target price of $43.80.
The stock has a market cap of $666.98 million and a price-to-earnings ratio of 29.15. The firm has a 50-day moving average of $42.50 and a 200-day moving average of $42.86.
Piper Jaffray Cos. (NYSE:PJC) last announced its quarterly earnings results 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. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. On average, analysts predict that Piper Jaffray Cos. will post $3.58 EPS for the current year.
In related news, insider Christopher D. Crawshaw sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $41.88, for a total value of $209,400.00. Following the sale, the insider now directly owns 51,651 shares in the company, valued at approximately $2,163,143.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher D. Crawshaw sold 21,737 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $41.45, for a total transaction of $900,998.65. Following the completion of the sale, the insider now owns 56,651 shares in the company, valued at $2,348,183.95. The disclosure for this sale can be found here.
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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