Piper Jaffray Companies (NYSE:PJC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The brokerage currently has a $87.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 18.59% from the company’s previous close.

According to Zacks, “Piper Jaffray Companies is a focused securities firm dedicated to delivering superior financial advice, investment products and transaction execution within selected sectors of the financial services marketplace. They operate through two primary revenue-generating segments: Capital Markets and Private Client Services. Investment Research, an independent group reporting to the CEO, supports clients of both segments. The firm serves corporations, government and non-profit entities, and institutional investors on a national basis. “

Other equities research analysts have also issued research reports about the company. TheStreet raised Piper Jaffray Companies from a “c” rating to a “b” rating in a research note on Wednesday, March 13th. ValuEngine raised Piper Jaffray Companies from a “sell” rating to a “hold” rating in a research note on Monday, April 1st.

Shares of PJC opened at $73.36 on Wednesday. Piper Jaffray Companies has a twelve month low of $61.35 and a twelve month high of $82.52. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 11.97 and a beta of 1.37.

Piper Jaffray Companies (NYSE:PJC) last announced its quarterly earnings data on Friday, April 26th. The financial services provider reported $1.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.37. The company had revenue of $191.83 million for the quarter, compared to analyst estimates of $174.65 million. Piper Jaffray Companies had a return on equity of 11.62% and a net margin of 7.16%. As a group, equities research analysts forecast that Piper Jaffray Companies will post 6.5 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. BlueMountain Capital Management LLC purchased a new stake in shares of Piper Jaffray Companies during the 1st quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Piper Jaffray Companies by 1,419.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 471 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 440 shares in the last quarter. Investors Research Corp purchased a new stake in shares of Piper Jaffray Companies during the 1st quarter worth approximately $51,000. Quantamental Technologies LLC purchased a new stake in shares of Piper Jaffray Companies during the 1st quarter worth approximately $58,000. Finally, Meeder Asset Management Inc. raised its position in shares of Piper Jaffray Companies by 231.7% during the 4th quarter. Meeder Asset Management Inc. now owns 1,151 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 804 shares during the last quarter. 75.00% of the stock is currently owned by institutional investors and hedge funds.

Piper Jaffray Companies 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.

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