Piper Sandler Companies (NYSE:PIPR) Stock Rating Lowered by Wall Street Zen

Piper Sandler Companies (NYSE:PIPR) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other research firms have also weighed in on PIPR. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Friday, January 23rd. Bank of America started coverage on shares of Piper Sandler Companies in a research report on Monday, January 26th. They issued an “underperform” rating and a $385.00 price objective on the stock. Wolfe Research restated an “outperform” rating and issued a $398.00 price objective on shares of Piper Sandler Companies in a report on Wednesday, January 7th. Zacks Research upgraded shares of Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 10th. Finally, The Goldman Sachs Group raised Piper Sandler Companies from a “neutral” rating to a “buy” rating and increased their target price for the company from $368.00 to $386.00 in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $389.67.

Piper Sandler Companies Stock Down 0.8%

Shares of PIPR opened at $320.12 on Monday. The company has a market cap of $5.66 billion, a P/E ratio of 20.25, a PEG ratio of 1.78 and a beta of 1.53. Piper Sandler Companies has a fifty-two week low of $202.91 and a fifty-two week high of $380.26. The firm’s 50 day moving average price is $351.84 and its 200 day moving average price is $340.21.

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

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

Insider Transactions at Piper Sandler Companies

In other news, CEO Chad R. Abraham sold 3,000 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $336.21, for a total value of $1,008,630.00. Following the completion of the sale, the chief executive officer directly owned 53,558 shares of the company’s stock, valued at approximately $18,006,735.18. This represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the chief financial officer owned 10,425 shares in the company, valued at approximately $3,384,893.25. This trade represents a 11.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 14,007 shares of company stock worth $4,777,109. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Elevation Point Wealth Partners LLC lifted its holdings in shares of Piper Sandler Companies by 2.2% during the second quarter. Elevation Point Wealth Partners LLC now owns 1,410 shares of the company’s stock worth $392,000 after purchasing an additional 30 shares during the period. M&T Bank Corp raised its position in Piper Sandler Companies by 3.5% during the 2nd quarter. M&T Bank Corp now owns 905 shares of the company’s stock worth $251,000 after buying an additional 31 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Piper Sandler Companies by 55.2% in the 4th quarter. UMB Bank n.a. now owns 90 shares of the company’s stock worth $31,000 after acquiring an additional 32 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Piper Sandler Companies by 89.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock worth $25,000 after acquiring an additional 35 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Piper Sandler Companies by 0.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 8,108 shares of the company’s stock valued at $2,754,000 after acquiring an additional 35 shares in 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.