Piper Sandler Companies (NYSE:PIPR) Stock Rating Lowered by Zacks Research

Piper Sandler Companies (NYSE:PIPR) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other research firms have also commented on PIPR. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Friday, January 23rd. Bank of America initiated coverage on shares of Piper Sandler Companies in a research note on Monday, January 26th. They set an “underperform” rating and a $96.25 target price for the company. Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Tuesday, February 24th. Wolfe Research reissued an “outperform” rating and set a $99.50 target price on shares of Piper Sandler Companies in a research note on Wednesday, January 7th. Finally, Northland Securities upgraded shares of Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $87.50 price target for the company in a research report on Wednesday, March 4th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.31.

Piper Sandler Companies Price Performance

PIPR stock opened at $81.42 on Tuesday. Piper Sandler Companies has a 12 month low of $51.61 and a 12 month high of $95.07. The firm has a market cap of $5.80 billion, a PE ratio of 20.60, a P/E/G ratio of 1.71 and a beta of 1.48. The firm has a 50 day simple moving average of $78.37 and a 200 day simple moving average of $83.41.

Piper Sandler Companies (NYSE:PIPR) last released its 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 business had revenue of $635.00 million during the quarter, compared to analyst estimates of $516.52 million. During the same period in the prior year, the business earned $1.20 earnings per share. The business’s quarterly revenue was up 27.4% on a year-over-year basis.

Insider Activity at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 20,960 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $87.75, for a total value of $1,839,187.60. Following the completion of the sale, the president owned 11,584 shares in the company, valued at approximately $1,016,467.04. This represents a 64.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Piper Sandler Companies

Several hedge funds have recently made changes to their positions in PIPR. EverSource Wealth Advisors LLC lifted its position in shares of Piper Sandler Companies by 89.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. Aster Capital Management DIFC Ltd increased its stake in Piper Sandler Companies by 1,440.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company’s stock valued at $26,000 after buying an additional 72 shares during the period. Los Angeles Capital Management LLC acquired a new position in Piper Sandler Companies in the 4th quarter valued at approximately $28,000. Whittier Trust Co. acquired a new position in Piper Sandler Companies in the 3rd quarter valued at approximately $31,000. Finally, UMB Bank n.a. increased its stake in Piper Sandler Companies by 55.2% in the 4th quarter. UMB Bank n.a. now owns 90 shares of the company’s stock valued at $31,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors 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.