Piper Jaffray Companies (PJC) Given Average Recommendation of “Sell” by Analysts

Shares of Piper Jaffray Companies (NYSE:PJC) have received an average recommendation of “Sell” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $27.79.

PJC has been the topic of a number of analyst reports. BidaskClub raised shares of Piper Jaffray Companies from a “sell” rating to a “hold” rating in a report on Saturday, July 8th. Keefe, Bruyette & Woods started coverage on shares of Piper Jaffray Companies in a research report on Monday. They issued a “mkt perform” rating and a $64.00 target price for the company.

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In related news, insider Thomas Gregory Smith sold 1,500 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $62.46, for a total value of $93,690.00. Following the completion of the transaction, the insider now owns 15,279 shares in the company, valued at approximately $954,326.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher D. Crawshaw sold 8,168 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $63.65, for a total transaction of $519,893.20. Following the completion of the transaction, the insider now owns 26,583 shares of the company’s stock, valued at approximately $1,692,007.95. The disclosure for this sale can be found here. Insiders sold a total of 12,988 shares of company stock valued at $827,163 in the last quarter. 5.36% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PJC. SG Americas Securities LLC bought a new position in Piper Jaffray Companies in the 1st quarter valued at about $123,000. Creative Planning grew its position in Piper Jaffray Companies by 9.2% in the 2nd quarter. Creative Planning now owns 2,094 shares of the financial services provider’s stock valued at $126,000 after buying an additional 177 shares in the last quarter. State of Alaska Department of Revenue grew its position in Piper Jaffray Companies by 78.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,800 shares of the financial services provider’s stock valued at $167,000 after buying an additional 1,230 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Piper Jaffray Companies by 0.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,842 shares of the financial services provider’s stock valued at $170,000 after buying an additional 10 shares in the last quarter. Finally, Invictus RG bought a new position in Piper Jaffray Companies in the 1st quarter valued at about $195,000. Hedge funds and other institutional investors own 66.32% of the company’s stock.

Shares of Piper Jaffray Companies (NYSE:PJC) opened at 60.60 on Wednesday. The stock has a market cap of $915.91 million, a P/E ratio of 272.97 and a beta of 1.45. Piper Jaffray Companies has a one year low of $50.10 and a one year high of $81.85. The stock has a 50 day moving average of $57.01 and a 200 day moving average of $59.80.

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

Piper Jaffray Companies declared that its Board of Directors has initiated a share buyback plan on Thursday, August 10th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 17.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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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