StockNews.com Downgrades Piper Sandler Companies (NYSE:PIPR) to Hold

Piper Sandler Companies (NYSE:PIPR) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Several other equities analysts have also recently weighed in on the company. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. The Goldman Sachs Group cut shares of Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price target for the company. in a report on Monday.

Piper Sandler Companies Trading Down 1.4 %

PIPR stock opened at $297.20 on Tuesday. Piper Sandler Companies has a one year low of $162.50 and a one year high of $351.80. The firm has a 50-day moving average of $311.43 and a two-hundred day moving average of $310.66. The firm has a market capitalization of $5.28 billion, a PE ratio of 31.75 and a beta of 1.46.

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

Institutional Investors Weigh In On Piper Sandler Companies

Several large investors have recently made changes to their positions in PIPR. State Street Corp boosted its position in Piper Sandler Companies by 0.3% during the third quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock worth $193,680,000 after purchasing an additional 2,137 shares during the period. FMR LLC grew its position in Piper Sandler Companies by 49.0% in the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after purchasing an additional 205,584 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Piper Sandler Companies by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after purchasing an additional 7,344 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Piper Sandler Companies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after buying an additional 2,689 shares during the last quarter. Finally, Systematic Financial Management LP lifted its stake in shares of Piper Sandler Companies by 3.4% in the third quarter. Systematic Financial Management LP now owns 196,342 shares of the financial services provider’s stock valued at $55,724,000 after buying an additional 6,507 shares during the period. Institutional investors own 72.79% of the company’s stock.

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.