Piper Jaffray (PJC) Upgraded at ValuEngine

Piper Jaffray (NYSE:PJC) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other equities analysts have also recently weighed in on PJC. TheStreet raised shares of Piper Jaffray from a “c+” rating to a “b-” rating in a research report on Friday, April 27th. Keefe, Bruyette & Woods cut shares of Piper Jaffray from an “outperform” rating to a “market perform” rating in a research report on Monday, April 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Piper Jaffray has a consensus rating of “Hold” and an average price target of $86.00.

NYSE PJC traded up $1.15 during trading hours on Thursday, hitting $77.25. The company’s stock had a trading volume of 59,800 shares, compared to its average volume of 119,449. Piper Jaffray has a 52 week low of $75.75 and a 52 week high of $77.00. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 11.45 and a beta of 1.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.10 and a current ratio of 1.54.

Piper Jaffray (NYSE:PJC) last announced its quarterly earnings results on Friday, April 27th. The financial services provider reported $1.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.68 by ($0.30). Piper Jaffray had a negative net margin of 8.69% and a positive return on equity of 11.88%. The business had revenue of $169.06 million during the quarter.

Large investors have recently bought and sold shares of the business. Wells Fargo & Company MN increased its stake in Piper Jaffray by 129.9% in the 4th quarter. Wells Fargo & Company MN now owns 55,974 shares of the financial services provider’s stock valued at $4,827,000 after buying an additional 31,630 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new stake in Piper Jaffray in the 4th quarter valued at about $363,000. Mackenzie Financial Corp purchased a new stake in Piper Jaffray in the 4th quarter valued at about $4,834,000. Schwab Charles Investment Management Inc. increased its stake in Piper Jaffray by 2.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 72,735 shares of the financial services provider’s stock valued at $6,274,000 after buying an additional 1,571 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in Piper Jaffray in the 4th quarter valued at about $3,804,000. Hedge funds and other institutional investors own 70.95% of the company’s stock.

Piper Jaffray Company Profile

Piper Jaffray Companies operates as an investment bank and asset management firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. The company's Capital Markets segment offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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