Piper Sandler Companies (NYSE:PIPR) Stock Now Rated “Hold” by Wall Street Analysts

Shares of Piper Sandler Companies (NYSE:PIPR) have been assigned an average rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $90.81.

A number of equities research analysts recently commented on PIPR shares. Zacks Research downgraded Piper Sandler Companies from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Piper Sandler Companies in a report on Monday, August 17th. Finally, The Goldman Sachs Group set a $80.00 target price on Piper Sandler Companies and gave the stock a “buy” rating in a research report on Thursday, October 1st.

Piper Sandler Companies Stock Performance

Shares of PIPR stock opened at $63.34 on Tuesday. Piper Sandler Companies has a 52-week low of $61.35 and a 52-week high of $95.07. The stock has a market cap of $4.48 billion, a PE ratio of 14.68, a PEG ratio of 1.95 and a beta of 1.43. The firm’s 50 day moving average price is $71.72 and its two-hundred day moving average price is $76.53.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Thursday, July 30th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.88 by $0.16. The company had revenue of $491.14 million during the quarter, compared to analysts’ expectations of $445.28 million. Piper Sandler Companies had a net margin of 14.51% and a return on equity of 21.92%. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.92 EPS. As a group, sell-side analysts predict that Piper Sandler Companies will post 4.47 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 28th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, August 28th. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 18.52%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. One Capital Management LLC acquired a new position in Piper Sandler Companies in the 2nd quarter worth $2,288,000. Wellington Management Group LLP bought a new position in Piper Sandler Companies during the 2nd quarter worth about $13,753,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Piper Sandler Companies in the 1st quarter valued at about $1,535,000. Arizona State Retirement System acquired a new stake in shares of Piper Sandler Companies in the 2nd quarter valued at about $1,387,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Piper Sandler Companies in the 2nd quarter valued at about $9,445,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

About Piper Sandler Companies

Piper Sandler Companies (NYSE:PIPR) is an investment banking and institutional securities firm that provides financial services to corporations, financial institutions, public-sector entities, institutional investors and private equity firms. The company offers advisory and capital-raising services, including mergers and acquisitions, equity and debt offerings, restructuring and other strategic transactions.

Its institutional securities activities include equity research, sales and trading, fixed-income services and market-making.