Piper Sandler Companies (NYSE:PIPR) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Piper Sandler Companies (NYSE:PIPR) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Several other research analysts also recently commented on PIPR. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Friday, January 23rd. Zacks Research lowered shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Wolfe Research reissued an “outperform” rating and issued a $398.00 price target on shares of Piper Sandler Companies in a research note on Wednesday, January 7th. The Goldman Sachs Group upgraded shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $368.00 to $386.00 in a research report on Monday, November 10th. Finally, Bank of America began coverage on shares of Piper Sandler Companies in a research note on Monday, January 26th. They set an “underperform” rating and a $385.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $389.67.

Piper Sandler Companies Stock Down 0.5%

PIPR opened at $345.72 on Friday. The company has a market cap of $6.12 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.12 and a beta of 1.54. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $380.26. The company has a 50-day moving average price of $349.18 and a 200 day moving average price of $337.89.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, October 31st. The company reported $3.82 EPS for the quarter, topping the consensus estimate of $2.96 by $0.86. Piper Sandler Companies had a return on equity of 19.91% and a net margin of 13.73%.The company had revenue of $455.31 million during the quarter, compared to analyst estimates of $408.40 million. During the same period in the previous year, the business earned $2.57 EPS. Piper Sandler Companies’s quarterly revenue was up 33.3% on a year-over-year basis.

Insiders Place Their Bets

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $330.33, for a total value of $825,825.00. Following the transaction, the president directly owned 2,896 shares in the company, valued at $956,635.68. The trade was a 46.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Katherine Patricia Clune sold 1,367 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $324.69, for a total transaction of $443,851.23. Following the sale, the chief financial officer owned 10,425 shares of the company’s stock, valued at $3,384,893.25. This represents a 11.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,267 shares of company stock valued at $3,763,746 over the last ninety days. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Piper Sandler Companies

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Piper Sandler Companies by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,128,150 shares of the company’s stock valued at $722,954,000 after buying an additional 17,964 shares during the period. Invesco Ltd. increased its position in shares of Piper Sandler Companies by 2.9% during the third quarter. Invesco Ltd. now owns 714,544 shares of the company’s stock valued at $247,940,000 after acquiring an additional 20,232 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Piper Sandler Companies by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 400,772 shares of the company’s stock valued at $111,402,000 after acquiring an additional 9,759 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Piper Sandler Companies by 1.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 290,357 shares of the company’s stock worth $80,702,000 after acquiring an additional 2,839 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its holdings in shares of Piper Sandler Companies by 11.6% in the 2nd quarter. Stephens Investment Management Group LLC now owns 279,542 shares of the company’s stock worth $77,696,000 after acquiring an additional 29,035 shares during the last quarter. 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 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.