Pershing Square (NYSE:PS) Upgraded at UBS Group

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

Several other equities analysts also recently commented on the company. Jefferies Financial Group initiated coverage on Pershing Square in a research report on Monday. They issued a “hold” rating and a $40.00 target price for the company. Royal Bank Of Canada initiated coverage on Pershing Square in a research report on Tuesday. They set a “sector perform” rating and a $40.00 price objective for the company. Loop Capital initiated coverage on Pershing Square in a research report on Tuesday. They set a “buy” rating and a $49.00 price objective for the company. Oppenheimer initiated coverage on Pershing Square in a research report on Tuesday. They set a “market perform” rating for the company. Finally, Citigroup initiated coverage on Pershing Square in a research report on Tuesday. They set a “buy” rating and a $50.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $42.43.

Pershing Square Stock Up 5.4%

Pershing Square stock opened at $39.08 on Tuesday. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of -33.69 and a beta of 2.27. Pershing Square has a 12 month low of $22.01 and a 12 month high of $54.94.

Insider Buying and Selling

In other Pershing Square news, CEO William A. Ackman bought 800,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was acquired at an average price of $23.77 per share, with a total value of $19,016,000.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 21.79% of the stock is 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.