Piper Sandler Companies (NYSE:PIPR) Upgraded by Wolfe Research to Outperform Rating

Piper Sandler Companies (NYSE:PIPR - Get Free Report) was upgraded by stock analysts at Wolfe Research from a "peer perform" rating to an "outperform" rating in a research report issued on Thursday,Benzinga reports. The brokerage presently has a $339.00 target price on the financial services provider's stock. Wolfe Research's price target suggests a potential upside of 17.23% from the company's current price.

PIPR has been the topic of several other reports. The Goldman Sachs Group decreased their price objective on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th.

Piper Sandler Companies Trading Up 1.5%

Shares of Piper Sandler Companies stock opened at $289.18 on Thursday. The company has a market cap of $5.14 billion, a PE ratio of 25.28 and a beta of 1.48. The business's 50-day simple moving average is $263.13. Piper Sandler Companies has a 1 year low of $202.91 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its earnings results on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $1.24. Piper Sandler Companies had a net margin of 13.20% and a return on equity of 18.32%. The company had revenue of $357.27 million during the quarter, compared to analysts' expectations of $366.99 million. During the same quarter in the prior year, the company posted $2.79 earnings per share. Piper Sandler Companies's revenue for the quarter was up 14.7% compared to the same quarter last year. Research analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Institutional Trading of Piper Sandler Companies

A number of hedge funds have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Piper Sandler Companies by 131.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider's stock worth $27,000 after buying an additional 62 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in Piper Sandler Companies in the first quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Piper Sandler Companies by 495.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of Piper Sandler Companies during the first quarter worth about $37,000. Finally, Geneos Wealth Management Inc. raised its holdings in Piper Sandler Companies by 46.6% in the first quarter. Geneos Wealth Management Inc. now owns 170 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 54 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company's stock.

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.

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