Piper Sandler Companies (NYSE:PIPR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Piper Sandler Companies (NYSE:PIPR) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $95.3125.

A number of research analysts have commented on PIPR shares. Northland Securities raised shares of Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $87.50 target price on the stock in a research report on Wednesday, March 4th. Zacks Research upgraded shares of Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 10th. Bank of America initiated coverage on shares of Piper Sandler Companies in a report on Monday, January 26th. They set an “underperform” rating and a $96.25 price objective on the stock. Wolfe Research reissued an “outperform” rating and issued a $99.50 price objective on shares of Piper Sandler Companies in a research note on Wednesday, January 7th. Finally, The Goldman Sachs Group lowered their target price on Piper Sandler Companies from $115.25 to $98.00 and set a “buy” rating for the company in a report on Thursday, March 12th.

Insider Buying and Selling at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 20,960 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $87.75, for a total transaction of $1,839,187.60. Following the completion of the sale, the president directly owned 11,584 shares in the company, valued at $1,016,467.04. This represents a 64.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Piper Sandler Companies

A number of large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Piper Sandler Companies by 89.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock valued at $25,000 after buying an additional 35 shares during the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of Piper Sandler Companies by 1,440.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company’s stock worth $26,000 after acquiring an additional 72 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Piper Sandler Companies during the 4th quarter worth approximately $28,000. UMB Bank n.a. lifted its position in Piper Sandler Companies by 55.2% during the fourth quarter. UMB Bank n.a. now owns 90 shares of the company’s stock valued at $31,000 after acquiring an additional 32 shares during the last quarter. Finally, Whittier Trust Co. purchased a new stake in Piper Sandler Companies during the third quarter valued at approximately $31,000. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Trading Up 3.3%

PIPR opened at $76.60 on Friday. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.63 and a beta of 1.54. Piper Sandler Companies has a 12-month low of $50.73 and a 12-month high of $95.07. The business’s fifty day simple moving average is $79.89 and its 200-day simple moving average is $83.70.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, February 6th. The company reported $6.88 earnings per share for the quarter, beating the consensus estimate of $4.72 by $2.16. Piper Sandler Companies had a return on equity of 21.85% and a net margin of 14.77%.The firm had revenue of $635.00 million during the quarter, compared to the consensus estimate of $516.52 million. During the same period in the previous year, the company posted $1.20 earnings per share. The firm’s quarterly revenue was up 27.4% on a year-over-year basis.

Piper Sandler Companies Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 3rd. Piper Sandler Companies’s payout ratio is presently 17.72%.

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.