Piper Jaffray (PJC) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of Piper Jaffray (NYSE:PJC) from a hold rating to a buy rating in a research note released on Thursday morning.

Other equities analysts also recently issued research reports about the stock. TheStreet raised shares of Piper Jaffray from a c+ rating to a b- rating in a report on Friday, April 27th. Keefe, Bruyette & Woods downgraded shares of Piper Jaffray from an outperform rating to a market perform rating in a report on Monday, April 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $86.00.

Shares of Piper Jaffray traded down $0.25, hitting $77.00, during midday trading on Thursday, according to MarketBeat Ratings. 768 shares of the stock traded hands, compared to its average volume of 119,449. Piper Jaffray has a 1-year low of $75.75 and a 1-year high of $77.00. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 11.34 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 (EPS) for the quarter, missing the 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 firm had revenue of $169.06 million for the quarter.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, May 25th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, May 24th.

A number of hedge funds have recently bought and sold shares of the stock. TIAA CREF Investment Management LLC lifted its holdings in Piper Jaffray by 0.6% in the fourth quarter. TIAA CREF Investment Management LLC now owns 92,450 shares of the financial services provider’s stock worth $7,974,000 after purchasing an additional 566 shares during the period. GW&K Investment Management LLC lifted its holdings in Piper Jaffray by 12.7% in the fourth quarter. GW&K Investment Management LLC now owns 6,075 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 685 shares during the period. New York State Common Retirement Fund lifted its holdings in Piper Jaffray by 3.4% in the first quarter. New York State Common Retirement Fund now owns 28,284 shares of the financial services provider’s stock worth $2,349,000 after purchasing an additional 922 shares during the period. Legal & General Group Plc lifted its holdings in Piper Jaffray by 3.4% in the first quarter. Legal & General Group Plc now owns 29,239 shares of the financial services provider’s stock worth $2,405,000 after purchasing an additional 975 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Piper Jaffray by 1.2% in the first quarter. American Century Companies Inc. now owns 96,223 shares of the financial services provider’s stock worth $7,991,000 after purchasing an additional 1,110 shares during the period. 70.95% of the stock is owned by institutional investors and hedge funds.

About Piper Jaffray

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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