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

by · The Cerbat Gem

Shares of Pershing Square Inc. (NYSE:PS – Get Free Report) have earned an average rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $41.3333.

A number of equities research analysts recently weighed in on PS shares. Royal Bank Of Canada assumed coverage on shares of Pershing Square in a research note on Tuesday. They set a “sector perform” rating and a $40.00 price target for the company. UBS Group began coverage on shares of Pershing Square in a report on Tuesday. They set a “neutral” rating and a $39.00 target price for the company. Citigroup initiated coverage on Pershing Square in a research note on Tuesday. They issued a “buy” rating and a $50.00 price target on the stock. Jefferies Financial Group began coverage on Pershing Square in a research note on Monday. They set a “hold” rating and a $40.00 price objective for the company. Finally, Bank of America initiated coverage on Pershing Square in a report on Tuesday. They issued a “neutral” rating and a $42.00 price objective for the company.

Check Out Our Latest Stock Report on PS

Pershing Square Trading Up 2.2%

Pershing Square stock traded up $0.80 during trading hours on Tuesday, reaching $36.47. 99,396 shares of the company’s stock traded hands, compared to its average volume of 888,018. The company has a market cap of $5.42 billion, a PE ratio of -31.44 and a beta of 2.27. Pershing Square has a fifty-two week low of $22.01 and a fifty-two week high of $54.94.

Insider Activity at Pershing Square

In other news, CEO William A. Ackman purchased 800,000 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were 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 of the company’s stock, valued at approximately $35,655,000. The trade was a 114.29% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 21.79% of the stock is currently owned by company insiders.

About Pershing Square

(Get Free Report)

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.

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