StockNews.com Upgrades Piper Sandler Companies (NYSE:PIPR) to Buy

Piper Sandler Companies (NYSE:PIPR) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Separately, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Price Performance

PIPR opened at $297.75 on Friday. The firm’s fifty day moving average price is $329.12 and its two-hundred day moving average price is $307.44. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 31.81 and a beta of 1.43. Piper Sandler Companies has a 1 year low of $162.50 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. The firm had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. As a group, equities analysts anticipate that Piper Sandler Companies will post 11.49 EPS for the current year.

Institutional Investors Weigh In On Piper Sandler Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Piper Sandler Companies by 194.7% in the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after buying an additional 74 shares during the last quarter. nVerses Capital LLC increased its position in Piper Sandler Companies by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 100 shares during the period. USA Financial Formulas bought a new position in Piper Sandler Companies in the 3rd quarter worth $77,000. CWM LLC boosted its stake in shares of Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 57 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Piper Sandler Companies by 20.9% during the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after buying an additional 95 shares during the period. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Company Profile

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.