Piper Sandler Companies (NYSE:PIPR) Rating Lowered to “Neutral” at The Goldman Sachs Group

Piper Sandler Companies (NYSE:PIPR) was downgraded by equities research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, MarketBeat.com reports. They currently have a $317.00 price objective on the financial services provider’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 7.62% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock opened at $294.56 on Monday. The stock’s 50-day moving average is $309.88 and its 200 day moving average is $310.45. Piper Sandler Companies has a one year low of $162.50 and a one year high of $351.80. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 31.47 and a beta of 1.46.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PIPR. State Street Corp grew its holdings in shares of Piper Sandler Companies by 0.3% during the third quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock valued at $193,680,000 after buying an additional 2,137 shares during the last quarter. FMR LLC boosted its stake in Piper Sandler Companies by 49.0% during the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after purchasing an additional 205,584 shares during the last quarter. Geode Capital Management LLC increased its holdings in Piper Sandler Companies by 2.0% during 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Piper Sandler Companies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after purchasing an additional 2,689 shares during the last quarter. Finally, Systematic Financial Management LP lifted its holdings in shares of Piper Sandler Companies by 3.4% in 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 in the last quarter. Institutional investors and hedge funds 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.