Pershing Square (NYSE:PS) Upgraded by UBS Group to Hold Rating

UBS Group upgraded shares of Pershing Square (NYSE:PS) to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Loop Capital initiated coverage on shares of Pershing Square in a research report on Tuesday. They issued a “buy” rating and a $49.00 price target on the stock. Oppenheimer initiated coverage on shares of Pershing Square in a research report on Tuesday. They issued a “market perform” rating on the stock. Royal Bank Of Canada initiated 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. Bank of America initiated coverage on shares of Pershing Square in a research report on Tuesday. They issued a “neutral” rating and a $42.00 price target on the stock. Finally, Citigroup initiated coverage on shares of Pershing Square in a research report on Tuesday. They issued a “buy” rating and a $50.00 price target on the stock. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $42.43.

Pershing Square Stock Performance

Shares of PS stock opened at $39.08 on Tuesday. 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 $5.80 billion, a P/E ratio of -33.69 and a beta of 2.27.

Insider Activity at Pershing Square

In other news, CEO William A. Ackman acquired 800,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were purchased 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. This trade represents a 114.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 21.79% of the stock is owned by insiders.

About Pershing Square

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.