Pershing Square (NYSE:PS) Upgraded to “Hold” at Wall Street Zen

Pershing Square (NYSE:PS) was upgraded by equities research analysts at Wall Street Zen to a “hold” rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also issued reports about the company. Wells Fargo & Company initiated coverage on Pershing Square in a report on Tuesday. They set an “equal weight” rating and a $37.00 target price for the company. Loop Capital initiated coverage on Pershing Square in a report on Tuesday. They set a “buy” rating and a $49.00 target price for the company. UBS Group initiated coverage on Pershing Square in a report on Tuesday. They set a “neutral” rating and a $39.00 target price for the company. Oppenheimer began coverage on Pershing Square in a report on Tuesday. They set a “market perform” rating for the company. Finally, Royal Bank Of Canada began coverage on Pershing Square in a report on Tuesday. They issued a “sector perform” rating and a $40.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $42.43.

Pershing Square Price Performance

NYSE:PS opened at $39.35 on Friday. The company has a market cap of $5.84 billion, a PE ratio of -40.57 and a beta of 2.27. Pershing Square has a 52 week low of $22.01 and a 52 week high of $54.94.

Insider Transactions at Pershing Square

In other Pershing Square news, CEO William A. Ackman acquired 800,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was acquired at an average cost of $23.77 per share, with a total value of $19,016,000.00. Following the acquisition, the chief executive officer directly owned 1,500,000 shares of the company’s stock, valued at $35,655,000. This represents a 114.29% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.79% of the stock is owned by company insiders.

Pershing Square Company Profile

Pershing Square (NYSE: PS) is a publicly traded investment holding company managed by Pershing Square Capital Management, L.P., the investment firm founded and led by William “Bill” Ackman. The vehicle provides outside investors with exposure to the firm’s concentrated, actively managed investment program and is designed to deliver long‑term capital appreciation through a portfolio of equity and related positions.

The company’s principal activities center on investing in publicly traded companies, typically through concentrated long equity positions and selectively using derivatives or other instruments for hedging or to implement investment views.