Piper Jaffray Companies (PJC) Lowered to “Sell” at BidaskClub

Piper Jaffray Companies (NYSE:PJC) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Other analysts have also issued reports about the company. National Bank Financial increased their target price on Piper Jaffray Companies from $22.00 to $25.00 in a report on Friday, April 28th. CIBC increased their target price on Piper Jaffray Companies from $19.00 to $22.00 in a report on Friday, April 28th. BMO Capital Markets reissued a “market perform” rating and set a $21.00 target price on shares of Piper Jaffray Companies in a report on Friday, April 28th. TD Securities reissued a “reduce” rating and set a $20.00 target price on shares of Piper Jaffray Companies in a report on Friday, April 28th. Finally, Scotiabank increased their target price on Piper Jaffray Companies from $19.00 to $22.50 and gave the stock a “sector perform” rating in a report on Friday, April 28th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock presently has a consensus rating of “Sell” and a consensus price target of $21.75.

Shares of Piper Jaffray Companies (PJC) traded down 1.114% during trading on Thursday, reaching $57.354. 13,143 shares of the company traded hands. Piper Jaffray Companies has a 12 month low of $42.12 and a 12 month high of $81.85. The stock’s 50 day moving average price is $62.23 and its 200-day moving average price is $64.57. The stock has a market cap of $866.85 million, a P/E ratio of 258.351 and a beta of 1.45.

Piper Jaffray Companies (NYSE:PJC) last released its earnings results on Thursday, July 27th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.29. The company had revenue of $197.75 million for the quarter. Piper Jaffray Companies had a return on equity of 9.63% and a net margin of 0.40%. On average, equities research analysts expect that Piper Jaffray Companies will post $5.39 EPS for the current fiscal year.

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In related news, insider Christopher D. Crawshaw sold 8,168 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $63.65, for a total value of $519,893.20. Following the sale, the insider now directly owns 26,583 shares of the company’s stock, valued at $1,692,007.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Martin Bradley Winges sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $64.42, for a total value of $193,260.00. Following the completion of the sale, the insider now directly owns 46,133 shares in the company, valued at $2,971,887.86. The disclosure for this sale can be found here. Insiders sold 12,988 shares of company stock worth $827,163 over the last ninety days. 5.36% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its stake in Piper Jaffray Companies by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 1,570 shares of the financial services provider’s stock valued at $100,000 after buying an additional 20 shares during the period. Creative Planning raised its stake in Piper Jaffray Companies by 32.0% in the first quarter. Creative Planning now owns 1,917 shares of the financial services provider’s stock valued at $122,000 after buying an additional 465 shares during the period. SG Americas Securities LLC acquired a new stake in Piper Jaffray Companies during the first quarter valued at $123,000. LS Investment Advisors LLC raised its stake in Piper Jaffray Companies by 301.7% in the first quarter. LS Investment Advisors LLC now owns 2,097 shares of the financial services provider’s stock valued at $134,000 after buying an additional 1,575 shares during the period. Finally, Invictus RG acquired a new stake in Piper Jaffray Companies during the first quarter valued at $195,000. 78.35% of the stock is currently owned by institutional investors and hedge funds.

About Piper Jaffray Companies

Piper Jaffray Companies is an investment bank and asset management company. The Company’s segments include Capital Markets and Asset Management. The Capital Markets segment provides investment banking and institutional sales, trading and research services for various equity and fixed income products.

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