Piper Sandler Companies (NYSE:PIPR) Downgraded by StockNews.com to “Hold”

Piper Sandler Companies (NYSE:PIPR) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Several other equities research analysts have also weighed in on PIPR. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. The Goldman Sachs Group lowered Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price target on the stock. in a research report on Monday.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $297.20 on Tuesday. The firm has a market cap of $5.28 billion, a P/E ratio of 31.75 and a beta of 1.46. The firm’s 50-day simple moving average is $311.43 and its 200-day simple moving average is $310.66. Piper Sandler Companies has a twelve month low of $162.50 and a twelve month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The company had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. On average, equities 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 large investors have recently modified their holdings of PIPR. Coldstream Capital Management Inc. increased its holdings in shares of Piper Sandler Companies by 2.3% in the third quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 41 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Piper Sandler Companies by 2.1% in the 2nd quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock valued at $524,000 after buying an additional 46 shares during the period. Xponance Inc. raised its position in shares of Piper Sandler Companies by 4.6% during the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock worth $253,000 after acquiring an additional 48 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Piper Sandler Companies by 2.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 54 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in Piper Sandler Companies by 1.1% in the third quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock valued at $1,422,000 after acquiring an additional 56 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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.