Piper Sandler Companies (NYSE:PIPR) Rating Increased to Buy at StockNews.com

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

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

Piper Sandler Companies Price Performance

Piper Sandler Companies stock opened at $297.75 on Friday. Piper Sandler Companies has a one year low of $162.50 and a one year high of $351.80. The business’s fifty day moving average is $329.12 and its 200 day moving average is $307.44. The stock has a market capitalization of $5.29 billion, a PE ratio of 31.81 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping 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 firm had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. As a group, sell-side analysts expect that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Piper Sandler Companies

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its position in Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 74 shares during the period. Louisiana State Employees Retirement System increased its holdings in Piper Sandler Companies by 4.0% during the second quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the financial services provider’s stock valued at $1,795,000 after buying an additional 300 shares during the period. New York State Teachers Retirement System raised its stake in Piper Sandler Companies by 1.9% in the second quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock worth $7,400,000 after buying an additional 610 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Piper Sandler Companies by 5.8% during the second quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock worth $39,162,000 after buying an additional 9,380 shares during the period. Finally, Legato Capital Management LLC bought a new stake in Piper Sandler Companies during the 2nd quarter valued at $757,000. 72.79% of the stock is owned by hedge funds and other institutional investors.

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.