Wall Street Zen Upgrades Oppenheimer (NYSE:OPY) to "Buy"

Key Points

• Wall Street Zen upgraded Oppenheimer from “hold” to “buy,” followed by a similar upgrade from Weiss Ratings. MarketBeat data shows an average analyst rating of “Buy.”
• Oppenheimer shares were down 3.8%, opening at $106.52, with a market capitalization of $1.14 billion and a P/E ratio of 12.70. The stock has traded between $63.81 and $123.24 over the past year.
• The company reported quarterly EPS of $3.98 on revenue of $454.88 million, while institutional investors—including State Street, JPMorgan and Millennium Management—recently increased their holdings; institutions own 32.26% of the stock.

Oppenheimer (NYSE:OPY - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings raised Oppenheimer from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy".

Oppenheimer Stock Down 3.8%

Shares of OPY opened at $106.52 on Friday. The stock has a market capitalization of $1.14 billion, a P/E ratio of 12.70 and a beta of 1.07. Oppenheimer has a twelve month low of $63.81 and a twelve month high of $123.24. The firm has a fifty day simple moving average of $106.17 and a two-hundred day simple moving average of $96.55.

Oppenheimer (NYSE:OPY - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The financial services provider reported $3.98 earnings per share (EPS) for the quarter. The firm had revenue of $454.88 million for the quarter. Oppenheimer had a net margin of 5.66% and a return on equity of 17.49%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Millennium Management LLC increased its position in Oppenheimer by 56.6% during the 4th quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider's stock valued at $8,294,000 after buying an additional 41,485 shares in the last quarter. State Street Corp boosted its holdings in Oppenheimer by 109.6% in the fourth quarter. State Street Corp now owns 67,421 shares of the financial services provider's stock worth $4,941,000 after acquiring an additional 35,250 shares in the last quarter. Marshall Wace LLP bought a new stake in Oppenheimer in the second quarter worth $2,016,000. Algert Global LLC grew its stake in shares of Oppenheimer by 726.5% in the third quarter. Algert Global LLC now owns 33,779 shares of the financial services provider's stock worth $2,497,000 after acquiring an additional 29,692 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Oppenheimer by 146.4% in the second quarter. JPMorgan Chase & Co. now owns 44,842 shares of the financial services provider's stock worth $2,949,000 after acquiring an additional 26,643 shares during the last quarter. 32.26% of the stock is currently owned by institutional investors.

About Oppenheimer

Oppenheimer & Co Inc is a full-service investment bank and wealth management firm headquartered in New York City. Founded in the mid-20th century, the company provides a broad array of financial services to individual, institutional and corporate clients. Its core competencies include equity and fixed-income research, institutional sales and trading, underwriting and merger-and-acquisition advisory.

In the wealth management segment, Oppenheimer offers tailored investment solutions, comprehensive financial planning and retirement strategies.

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