Piper Sandler Companies (NYSE:PIPR) Rating Reiterated by Northland Securities

Piper Sandler Companies (NYSE:PIPR)‘s stock had its “buy” rating reaffirmed by investment analysts at Northland Securities in a note issued to investors on Thursday, Price Targets.com reports. They currently have a $161.00 price objective on the stock. Northland Securities’ price target would suggest a potential upside of 19.13% from the stock’s previous close.

Separately, JMP Securities lifted their price objective on shares of Piper Sandler Companies from $138.00 to $172.00 in a research report on Monday, August 2nd.

Piper Sandler Companies stock opened at $135.15 on Thursday. Piper Sandler Companies has a fifty-two week low of $67.22 and a fifty-two week high of $146.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 1.37. The firm has a 50 day moving average price of $133.91 and a 200 day moving average price of $125.11. The company has a market capitalization of $2.44 billion, a PE ratio of 12.80 and a beta of 1.33.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Thursday, July 29th. The company reported $5.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.45 by $1.92. Piper Sandler Companies had a net margin of 10.47% and a return on equity of 30.30%. As a group, equities research analysts forecast that Piper Sandler Companies will post 17.09 earnings per share for the current year.

In other news, insider Jonathan J. Doyle sold 4,496 shares of the business’s stock in a transaction dated Thursday, September 2nd. The shares were sold at an average price of $143.33, for a total transaction of $644,411.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Chad R. Abraham sold 963 shares of the business’s stock in a transaction dated Monday, August 9th. The stock was sold at an average price of $138.52, for a total transaction of $133,394.76. Following the transaction, the chief executive officer now owns 76,153 shares in the company, valued at $10,548,713.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,348 shares of company stock worth $4,792,144. 3.80% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in Piper Sandler Companies during the second quarter worth about $212,000. Parametric Portfolio Associates LLC lifted its holdings in shares of Piper Sandler Companies by 4.0% in the second quarter. Parametric Portfolio Associates LLC now owns 59,233 shares of the company’s stock valued at $7,674,000 after purchasing an additional 2,285 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Piper Sandler Companies by 34.4% in the second quarter. Morgan Stanley now owns 52,196 shares of the company’s stock valued at $6,762,000 after purchasing an additional 13,370 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Piper Sandler Companies by 4.2% in the second quarter. Thrivent Financial for Lutherans now owns 11,790 shares of the company’s stock valued at $1,528,000 after purchasing an additional 473 shares in the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new stake in shares of Piper Sandler Companies in the second quarter valued at about $2,371,000. Institutional investors own 64.32% of the company’s stock.

About Piper Sandler Companies

Piper Sandler Cos. engages in the provision of investment banking and institutional securities services. It offers financial advisory services, equity and debt capital markets products, public finance services, equity research and institutional brokerage, fixed income services, and private equity strategies.

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