Pershing Square Inc. (NYSE:PS) Given Average Rating of “Hold” by Brokerages

Pershing Square Inc. (NYSE:PS) has received an average rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $41.3333.

PS has been the topic of a number of research reports. Bank of America initiated coverage on shares of Pershing Square in a report on Tuesday. They set a “neutral” rating and a $42.00 price target on the stock. UBS Group began coverage on shares of Pershing Square in a research note on Tuesday. They issued a “neutral” rating and a $39.00 price objective for the company. Oppenheimer began coverage on Pershing Square in a research note on Tuesday. They set a “market perform” rating for the company. Wells Fargo & Company set a $37.00 target price on shares of Pershing Square and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Royal Bank Of Canada assumed coverage on shares of Pershing Square in a research report on Tuesday. They issued a “sector perform” rating and a $40.00 price target on the stock.

Pershing Square Stock Up 2.2%

Shares of NYSE PS traded up $0.80 during mid-day trading on Tuesday, reaching $36.47. The company had a trading volume of 99,396 shares, compared to its average volume of 888,018. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of -31.44 and a beta of 2.27. Pershing Square has a 1-year low of $22.01 and a 1-year high of $54.94.

Insiders Place Their Bets

In related news, CEO William A. Ackman bought 800,000 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was acquired at an average price 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 $35,655,000. This represents a 114.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 21.79% of the company’s stock.

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.