Pershing Square Inc. (NYSE:PS) Receives Consensus Rating of “Hold” from Analysts

Pershing Square Inc. (NYSE:PS) has been given a consensus recommendation of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $42.4286.

Several equities analysts have recently commented on the company. Royal Bank Of Canada assumed coverage on Pershing Square in a research report on Tuesday, May 26th. They issued a “sector perform” rating and a $40.00 target price on the stock. Wall Street Zen downgraded Pershing Square from a “hold” rating to a “sell” rating in a research report on Sunday, June 7th. Oppenheimer initiated coverage on Pershing Square in a research report on Tuesday, May 26th. They set a “market perform” rating on the stock. Bank of America initiated coverage on Pershing Square in a research report on Tuesday, May 26th. They set a “neutral” rating and a $42.00 price target on the stock. Finally, Loop Capital initiated coverage on Pershing Square in a research report on Tuesday, May 26th. They set a “buy” rating and a $49.00 price target on the stock.

Pershing Square Stock Performance

Pershing Square stock opened at $33.53 on Friday. Pershing Square has a 12 month low of $22.01 and a 12 month high of $54.94. The company has a market capitalization of $13.41 billion, a PE ratio of -40.21 and a beta of 2.27.

Insider Buying and Selling at Pershing Square

In other Pershing Square news, CEO William A. Ackman acquired 800,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was acquired at an average cost of $23.77 per share, for a total transaction of $19,016,000.00. Following the transaction, the chief executive officer directly owned 1,500,000 shares in the company, valued at $35,655,000. This represents a 114.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 21.79% of the stock is currently owned by corporate 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.