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

Shares of Pershing Square Inc. (NYSE:PS) have received a consensus recommendation of “Hold” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $42.4286.

Several equities research analysts have recently weighed in on the company. Citigroup assumed coverage on Pershing Square in a research note on Tuesday, May 26th. They set a “buy” rating and a $50.00 price objective for the company. Royal Bank Of Canada assumed coverage on Pershing Square in a research note on Tuesday, May 26th. They set a “sector perform” rating and a $40.00 price objective for the company. Oppenheimer assumed coverage on Pershing Square in a research note on Tuesday, May 26th. They set a “market perform” rating for the company. Bank of America assumed coverage on Pershing Square in a research note on Tuesday, May 26th. They set a “neutral” rating and a $42.00 price objective for the company. Finally, Loop Capital started coverage on Pershing Square in a research note on Tuesday, May 26th. They set a “buy” rating and a $49.00 price objective for the company.

Pershing Square Trading Up 6.7%

PS opened at $31.60 on Friday. The company has a market cap of $12.64 billion, a price-to-earnings ratio of -40.21 and a beta of 2.27. The stock’s fifty day moving average is $36.18. 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 Pershing Square news, CEO William A. Ackman bought 800,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,500,000 shares in the company, valued at approximately $35,655,000. This represents a 114.29% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.79% of the stock is currently owned by company 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.