Piper Sandler Companies (NYSE:PIPR) Stock Rating Lowered by The Goldman Sachs Group

Piper Sandler Companies (NYSE:PIPR) was downgraded by research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a note issued to investors on Monday,Briefing.com Automated Import reports. They presently have a $317.00 price target on the financial services provider’s stock. The Goldman Sachs Group’s price target points to a potential upside of 5.17% from the company’s previous close.

Several other research analysts have also commented on the stock. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Stock Up 0.7 %

Shares of NYSE PIPR opened at $301.43 on Monday. Piper Sandler Companies has a one year low of $162.50 and a one year high of $351.80. The company has a 50-day moving average price of $313.26. The stock has a market capitalization of $5.36 billion, a P/E ratio of 32.20 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.53 by $0.04. The business had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. On average, equities research analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Institutional Trading of Piper Sandler Companies

Large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its position in Piper Sandler Companies by 2.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock worth $539,000 after acquiring an additional 54 shares during the last quarter. TD Asset Management Inc bought a new stake in Piper Sandler Companies during the 2nd quarter valued at approximately $483,000. Victory Capital Management Inc. boosted its stake in Piper Sandler Companies by 74.7% during the 2nd quarter. Victory Capital Management Inc. now owns 13,176 shares of the financial services provider’s stock valued at $3,033,000 after purchasing an additional 5,636 shares during the period. Arizona State Retirement System grew its holdings in Piper Sandler Companies by 1.7% in the 2nd quarter. Arizona State Retirement System now owns 4,950 shares of the financial services provider’s stock valued at $1,139,000 after buying an additional 83 shares during the last quarter. Finally, Quest Partners LLC increased its position in Piper Sandler Companies by 531.8% in the 2nd quarter. Quest Partners LLC now owns 6,710 shares of the financial services provider’s stock worth $1,544,000 after buying an additional 5,648 shares during the period. 72.79% of the stock is owned by institutional investors.

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.