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

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

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

Piper Sandler Companies Price Performance

Piper Sandler Companies stock traded up $5.12 during mid-day trading on Friday, reaching $297.75. The company had a trading volume of 338,800 shares, compared to its average volume of 107,717. The stock’s 50-day simple moving average is $329.12 and its 200-day simple moving average is $306.80. The company has a market capitalization of $5.29 billion, a P/E 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 announced its quarterly 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 business had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. On average, equities analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Piper Sandler Companies

Several hedge funds have recently made changes to their positions in the business. Coldstream Capital Management Inc. boosted its stake in Piper Sandler Companies by 2.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock worth $524,000 after buying an additional 41 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Piper Sandler Companies by 2.1% during the 2nd quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 46 shares during the period. Xponance Inc. boosted its position in shares of Piper Sandler Companies by 4.6% in the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock worth $253,000 after acquiring an additional 48 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Piper Sandler Companies by 2.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 54 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Piper Sandler Companies by 1.1% during the third quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock worth $1,422,000 after purchasing an additional 56 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 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.