Piper Sandler Companies (NYSE:PIPR) Reaches New 52-Week High – Should You Buy?

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

Analysts Set New Price Targets

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

Piper Sandler Companies Stock Down 0.8 %

The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 32.26 and a beta of 1.46. The stock’s 50 day moving average price is $299.86.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The business had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. Equities analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Piper Sandler Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in PIPR. State Street Corp grew its stake in 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 worth $193,680,000 after purchasing an additional 2,137 shares during the period. FMR LLC boosted its stake in Piper Sandler Companies by 49.0% during the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after acquiring an additional 205,584 shares in the last quarter. Geode Capital Management LLC grew its holdings in Piper Sandler Companies by 2.0% in the third 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 during the period. Charles Schwab Investment Management Inc. increased its stake in 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 valued at $58,245,000 after purchasing an additional 2,689 shares in the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of Piper Sandler Companies by 3.4% during the 3rd quarter. Systematic Financial Management LP now owns 196,342 shares of the financial services provider’s stock worth $55,724,000 after purchasing an additional 6,507 shares in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

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.