Piper Sandler Companies (NYSE:PIPR) Upgraded at StockNews.com

Piper Sandler Companies (NYSE:PIPR) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

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

Piper Sandler Companies Trading Up 1.7 %

PIPR traded up $5.12 during trading on Friday, hitting $297.75. 338,800 shares of the company’s stock were exchanged, compared to its average volume of 107,717. Piper Sandler Companies has a 1 year low of $162.50 and a 1 year high of $351.80. The stock has a 50 day moving average price of $329.12 and a 200 day moving average price of $306.80. The firm has a market cap of $5.29 billion, a P/E ratio of 31.81 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share 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 for the quarter, compared to analyst estimates of $365.07 million. Analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Piper Sandler Companies

A number of institutional investors have recently added to or reduced their stakes in PIPR. State Street Corp increased its position in shares of 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 acquiring an additional 2,137 shares during the last quarter. FMR LLC grew its stake in Piper Sandler Companies by 49.0% during the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after purchasing an additional 205,584 shares in the last quarter. Geode Capital Management LLC increased its holdings in 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 last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Piper Sandler Companies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after purchasing an additional 2,689 shares in the last quarter. Finally, Systematic Financial Management LP boosted its stake in shares of Piper Sandler Companies by 3.4% during the 3rd 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 last quarter. Institutional investors and hedge funds 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.