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

Shares of Pershing Square Inc. (NYSE:PS) have been assigned a consensus recommendation of “Reduce” from the twelve brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $41.89.

PS has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Pershing Square from a “sell” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company assumed coverage on Pershing Square in a research note on Thursday. They set an “underweight” rating and a $41.00 price objective on the stock. Citigroup cut Pershing Square from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a report on Wednesday, August 19th. Tigress Financial increased their target price on Pershing Square from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Finally, JonesTrading cut shares of Pershing Square from a “buy” rating to a “hold” rating in a research note on Tuesday.

Hedge Funds Weigh In On Pershing Square

Several institutional investors and hedge funds have recently added to or reduced their stakes in PS. Rivernorth Capital Management LLC bought a new position in Pershing Square in the 2nd quarter valued at approximately $14,787,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in Pershing Square during the 2nd quarter worth approximately $9,858,000. Equitec Proprietary Markets LLC acquired a new position in Pershing Square in the 2nd quarter valued at approximately $3,828,000. NewEdge Advisors LLC acquired a new position in Pershing Square in the 2nd quarter valued at approximately $1,702,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Pershing Square during the second quarter valued at $1,459,000.

Pershing Square Stock Performance

Pershing Square stock opened at $52.68 on Monday. The firm has a 50-day moving average of $41.84. The company has a market cap of $21.07 billion and a PE ratio of 376.29. Pershing Square has a twelve month low of $22.01 and a twelve month high of $59.94.

Pershing Square (NYSE:PS) last announced its earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $68.03 million for the quarter. As a group, equities analysts forecast that Pershing Square will post 0.56 EPS for the current year.

About Pershing Square

Pershing Square USA, Ltd. is a closed-end investment company listed on the New York Stock Exchange under the symbol PS. The company is designed to provide investors with long-term capital appreciation through a concentrated portfolio of investments in publicly traded businesses.

The fund is managed by Pershing Square Capital Management, L.P., an investment management firm founded and led by William A. Ackman. Its investment approach generally emphasizes detailed fundamental research, activist engagement when appropriate, and ownership of a limited number of companies that the manager believes have durable business models, strong management teams, and long-term growth potential.

Pershing Square USA primarily focuses on publicly traded companies in the United States and other developed markets, with investment decisions centered on individual business fundamentals rather than broad market exposure.