Piper Sandler Companies (NYSE:PIPR) Rating Lowered to Strong Sell at Zacks Research

Piper Sandler Companies (NYSE:PIPR) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, Zacks reports.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group set a $80.00 target price on Piper Sandler Companies and gave the company a “buy” rating in a research report on Thursday, October 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Piper Sandler Companies in a research note on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Piper Sandler Companies currently has an average rating of “Hold” and an average target price of $90.81.

Piper Sandler Companies Stock Up 0.2%

PIPR opened at $63.97 on Tuesday. The company has a market cap of $4.52 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 1.93 and a beta of 1.43. Piper Sandler Companies has a twelve month low of $61.35 and a twelve month high of $95.07. The company has a 50-day moving average price of $72.35 and a 200 day moving average price of $76.75.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.16. Piper Sandler Companies had a return on equity of 21.92% and a net margin of 14.51%. The company had revenue of $491.14 million for the quarter, compared to analysts’ expectations of $445.28 million. During the same period in the previous year, the firm posted $2.92 EPS. Piper Sandler Companies’s revenue was up 24.9% compared to the same quarter last year. As a group, sell-side analysts expect that Piper Sandler Companies will post 4.47 earnings per share for the current year.

Hedge Funds Weigh In On Piper Sandler Companies

Several hedge funds and other institutional investors have recently modified their holdings of the business. ZWJ Investment Counsel Inc. boosted its holdings in shares of Piper Sandler Companies by 17.1% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 3,928 shares of the company’s stock worth $259,000 after purchasing an additional 574 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Piper Sandler Companies by 17.6% in the third quarter. GAMMA Investing LLC now owns 2,201 shares of the company’s stock valued at $145,000 after purchasing an additional 330 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Piper Sandler Companies by 11.0% in the third quarter. Farther Finance Advisors LLC now owns 9,361 shares of the company’s stock valued at $618,000 after purchasing an additional 925 shares in the last quarter. Greenwich Wealth Management LLC increased its holdings in shares of Piper Sandler Companies by 1.0% in the second quarter. Greenwich Wealth Management LLC now owns 420,805 shares of the company’s stock valued at $30,441,000 after purchasing an additional 4,036 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in shares of Piper Sandler Companies in the second quarter valued at approximately $280,000. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE:PIPR) is a U.S.-based investment bank and financial services firm that provides capital markets and advisory services to corporations, financial institutions, public entities and other organizations. Its activities include investment banking, mergers and acquisitions advisory, equity and debt offerings, private placements, restructuring advice and strategic consulting.

The company also offers institutional securities services, including equity and fixed-income research, sales and trading, and municipal finance capabilities.