Piper Sandler Companies (NYSE:PIPR) Shares Up 4.3% - Still a Buy?

Piper Sandler Companies (NYSE:PIPR - Get Free Report) rose 4.3% on Tuesday . The stock traded as high as $288.47 and last traded at $310.29. Approximately 154,087 shares were traded during trading, an increase of 104% from the average daily volume of 75,373 shares. The stock had previously closed at $297.52.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group downgraded Piper Sandler Companies from a "buy" rating to a "neutral" rating and set a $317.00 price target on the stock. in a research note on Monday, January 6th. StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th.

Piper Sandler Companies Price Performance

The company has a 50-day moving average of $301.34 and a two-hundred day moving average of $313.50. The company has a market capitalization of $5.65 billion, a PE ratio of 33.93 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating analysts' consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. During the same quarter in the previous year, the company posted $4.03 EPS. As a group, research analysts anticipate that Piper Sandler Companies will post 11.49 EPS for the current year.

Institutional Trading of Piper Sandler Companies

Several institutional investors and hedge funds have recently modified their holdings of the company. West Oak Capital LLC grew its position in shares of Piper Sandler Companies by 650.0% during the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider's stock worth $45,000 after purchasing an additional 1,300 shares in the last quarter. Allworth Financial LP grew its holdings in Piper Sandler Companies by 238.8% during the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock valued at $70,000 after buying an additional 160 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Piper Sandler Companies during the third quarter valued at approximately $77,000. GAMMA Investing LLC lifted its holdings in shares of Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock worth $83,000 after buying an additional 60 shares in the last quarter. Finally, CWM LLC grew its stake in Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider's stock valued at $88,000 after acquiring an additional 57 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

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.