Piper Sandler Companies (NYSE:PIPR) Hits New 52-Week High – Here’s What Happened

Piper Sandler Companies (NYSE:PIPR) shares reached a new 52-week high on Monday . The stock 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

Several analysts have issued reports on PIPR shares. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group cut Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 target price on the stock. in a report on Monday, January 6th.

Piper Sandler Companies Price Performance

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

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data 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 company had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. On average, research analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Institutional Trading of Piper Sandler Companies

A number of hedge funds have recently modified their holdings of the business. West Oak Capital LLC grew its position in 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 valued at $45,000 after purchasing an additional 1,300 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Piper Sandler Companies during the 3rd quarter valued at $77,000. GAMMA Investing LLC increased its stake 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 acquiring an additional 60 shares during the last quarter. CWM LLC raised its holdings in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 57 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Piper Sandler Companies by 20.9% during the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors 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.