Should Investors Consider Selling Piper Jaffray (NYSE:PJC) Shares Now That KBW Downgraded The Company?

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Piper Jaffray (NYSE:PJC) Receives a Downgrade

Equity analysts at KBW’s research division downgraded shares of Piper Jaffray (NYSE:PJC) from a Outperform to a Market Perform rating today. Theses analysts currently have a target price of $43.00 on PJC equating to a 8.23% upside.

From a total of 5 analysts covering Piper Jaffray (NYSE:PJC) stock, 2 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 40% of the ratings are positive. The highest target price is $60 while the lowest target price is $37. The mean of all analyst targets is $46.2 with a 14.33% above today’s ($39.14) stock price. Piper Jaffray was the topic of 5 analyst reports since August 11, 2015 according to the firm StockzIntelligence Inc. Keefe Bruyette & Woods upgraded shares on October 30 to “Outperform” rating. Zacks upgraded PJC stock in a recent report from August 11 to “Hold” rating.

Approximately 77,354 shares of stock traded hands. Piper Jaffray Companies (NYSE:PJC) has declined 16.47% since May 8, 2015 and is downtrending. It has underperformed by 13.45% the S&P500.

The overall sentiment of institutions has decreased to 0.84 in Q2 2015. Its down 0.08, from 0.92 in 2015Q2. The ratio dived, as 32 institutions have sold all the shares of Piper Jaffray Companies that they owned while 53 funds have taken shares off the table. 23 funds have purchased shares for the first time while 48 added to their positions. These institutions now hold 9.72 million shares or 9.69% less than the 10.76 million shares they owned in 2015Q2.

The Fund Signia Capital Management Llc currently is holding shares equating to 1.22% of its total portfolio in Piper Jaffray Companies representing a total of 10,191 shares. Another fund,Greenwich Wealth Management Llc, is holding a total of 92,740 shares equating to 0.81% of their holdings. Additionally, Rotella Capital Management Inc. has a 21,411 share stake in Piper Jaffray Companies which represents 0.25% of their total portfolio. The Fund, Shellback Capital Lp, based out of Massachusetts, has also built up a stake in the stock, which represents a total of 0.23% of their total portfolio. Finally Kennedy Capital Management Inc., a fund which is based in the state of Missouri reported a total holdings of 295,003 shares.

Piper Jaffray Companies is an investment bank and asset management firm serving the needs of firms, private equity groups, public entities, non-profit entities and institutional investors in the United States and internationally. The company has a market cap of $631.03 million. The Firm provides services and products including equity and debt capital markets products, public finance services, financial advisory services, equity and fixed income institutional brokerage, equity and fixed income research and asset management services. It has 11.89 P/E ratio. The Firm operates through two divisions, Capital Markets and Asset Management.

According to Zacks Investment Research, “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.” Get a free copy of the Zacks research report on Piper Jaffray Companies (PJC).

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