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

Shares of Piper Sandler Companies (NYSE:PIPR) hit a new 52-week high on Monday . The company 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.

Wall Street Analysts Forecast Growth

Several equities research 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 report on Monday, January 6th. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

Piper Sandler Companies Stock Down 0.8 %

The stock has a market capitalization of $5.40 billion, a PE ratio of 32.26 and a beta of 1.46. The business has a 50 day moving average price of $299.86.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share 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 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 year.

Institutional Trading of Piper Sandler Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. West Oak Capital LLC lifted its stake in Piper Sandler Companies by 650.0% in the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock valued at $45,000 after buying an additional 1,300 shares during the period. USA Financial Formulas acquired a new stake in shares of Piper Sandler Companies in the 3rd quarter valued at approximately $77,000. GAMMA Investing LLC boosted its stake in Piper Sandler Companies by 27.6% during the 4th 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 grew its holdings 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 purchasing an additional 57 shares during the period. Finally, KBC Group NV increased its stake in Piper Sandler Companies by 20.9% in the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 95 shares in the last quarter. 72.79% of the stock is 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.