Piper Sandler Companies (NYSE:PIPR) Rating Lowered to “Hold” at StockNews.com

Piper Sandler Companies (NYSE:PIPR) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

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 Stock Down 1.6 %

Shares of PIPR opened at $301.10 on Friday. The company has a market capitalization of $5.35 billion, a P/E ratio of 32.17 and a beta of 1.43. Piper Sandler Companies has a twelve month low of $162.50 and a twelve month high of $351.80. The firm’s 50 day moving average price is $322.06.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. The business had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. As a group, equities analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. State Street Corp raised its position in Piper Sandler Companies by 0.3% in 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 period. FMR LLC increased its stake in shares of Piper Sandler Companies by 49.0% in the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after purchasing an additional 205,584 shares in the last quarter. Geode Capital Management LLC raised its holdings in Piper Sandler Companies by 2.0% in 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 period. Charles Schwab Investment Management Inc. lifted its position in Piper Sandler Companies by 1.3% during the third 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 grew its holdings in Piper Sandler Companies by 3.4% during the third quarter. Systematic Financial Management LP now owns 196,342 shares of the financial services provider’s stock valued at $55,724,000 after purchasing an additional 6,507 shares during the period. Institutional investors 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.