Piper Sandler Companies (NYSE:PIPR) Reaches New 1-Year High – Still a Buy?

Piper Sandler Companies (NYSE:PIPR) hit a new 52-week high during trading on Monday . The stock traded as high as $288.47 and last traded at $301.99, with a volume of 1642 shares changing hands. The stock had previously closed at $306.29.

Analyst Upgrades and Downgrades

PIPR has been the topic of several recent research reports. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group cut shares of Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price objective for the company. in a report on Monday, January 6th.

Piper Sandler Companies Stock Down 0.8 %

The company has a market capitalization of $5.40 billion, a PE ratio of 32.26 and a beta of 1.46. The stock’s fifty day simple moving average is $299.86.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating 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%. Equities analysts anticipate that Piper Sandler Companies will post 11.49 EPS for the current year.

Hedge Funds Weigh In On Piper Sandler Companies

A number of institutional investors and hedge funds have recently bought and sold shares of PIPR. Mercer Global Advisors Inc. ADV lifted its holdings in Piper Sandler Companies by 5.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,317 shares of the financial services provider’s stock valued at $303,000 after buying an additional 67 shares during the period. Hsbc Holdings PLC grew its position in shares of Piper Sandler Companies by 12.2% during the 2nd quarter. Hsbc Holdings PLC now owns 3,338 shares of the financial services provider’s stock worth $760,000 after buying an additional 363 shares during the period. Sei Investments Co. increased its stake in shares of Piper Sandler Companies by 101.2% in the 2nd quarter. Sei Investments Co. now owns 44,675 shares of the financial services provider’s stock valued at $10,282,000 after acquiring an additional 22,471 shares during the last quarter. Bank of Montreal Can raised its position 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 acquiring an additional 46 shares during the period. Finally, Xponance Inc. boosted its stake in Piper Sandler Companies by 4.6% during the 2nd 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. 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.