Piper Sandler Companies (NYSE:PIPR) Stock Rating Upgraded by Zacks Research

Piper Sandler Companies (NYSE:PIPR) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also commented on PIPR. Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday. Wolfe Research restated an “outperform” rating and issued a $398.00 target price on shares of Piper Sandler Companies in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Piper Sandler Companies in a report on Friday, January 23rd. The Goldman Sachs Group raised Piper Sandler Companies from a “neutral” rating to a “buy” rating and raised their price objective 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 report on Monday, January 26th. They issued an “underperform” rating and a $385.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Piper Sandler Companies currently has an average rating of “Moderate Buy” and an average price target of $389.67.

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $341.47 on Tuesday. Piper Sandler Companies has a one year low of $202.91 and a one year high of $380.26. The stock has a market cap of $6.04 billion, a PE ratio of 21.60, a P/E/G ratio of 1.99 and a beta of 1.53. The stock has a 50 day moving average price of $352.55 and a 200 day moving average price of $340.04.

Piper Sandler Companies’s stock is going to split on the morning of Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly minted shares will be issued to shareholders after the market closes on Monday, March 23rd.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, February 6th. The company reported $6.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.72 by $2.16. The firm had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $516.52 million. Piper Sandler Companies had a net margin of 14.77% and a return on equity of 22.50%. Piper Sandler Companies’s revenue was up 27.4% compared to the same quarter last year. During the same period last year, the business earned $4.80 earnings per share.

Insider Activity

In other news, CFO Katherine Patricia Clune sold 1,367 shares of the stock in a transaction dated Friday, November 21st. The shares were 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 approximately $3,384,893.25. This represents a 11.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chad R. Abraham sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $337.60, for a total transaction of $1,485,440.00. Following the completion of the transaction, the chief executive officer directly owned 53,558 shares of the company’s stock, valued at approximately $18,081,180.80. The trade was a 7.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 8,767 shares of company stock valued at $2,937,921. 2.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Piper Sandler Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in shares of Piper Sandler Companies by 20.7% during the first quarter. AQR Capital Management LLC now owns 5,572 shares of the company’s stock worth $1,380,000 after acquiring an additional 956 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Piper Sandler Companies by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,349 shares of the company’s stock worth $2,563,000 after purchasing an additional 473 shares during the period. United Services Automobile Association purchased a new stake in Piper Sandler Companies during the 1st quarter worth about $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Piper Sandler Companies by 0.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,323 shares of the company’s stock valued at $10,977,000 after purchasing an additional 177 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Piper Sandler Companies by 46.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 170 shares of the company’s stock valued at $42,000 after buying an additional 54 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Company Profile

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.