Pershing Square (NYSE:PS) Stock Gets Price Target Bump from Tigress Financial

Pershing Square (NYSE:PS) had its price target boosted by investment analysts at Tigress Financial from $41.00 to $54.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Tigress Financial‘s target price would indicate a potential upside of 4.13% from the stock’s current price.

PS has been the subject of a number of other research reports. Citigroup cut Pershing Square from a “neutral” rating to a “sell” rating and set a $45.00 target price for the company. in a report on Friday, October 9th. Wall Street Zen lowered Pershing Square from a “hold” rating to a “sell” rating in a report on Sunday, October 11th. JonesTrading cut Pershing Square from a “buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Weiss Ratings upgraded Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company dropped their target price on Pershing Square from $41.00 to $40.00 and set an “underweight” rating on the stock in a research report on Thursday, October 15th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $44.11.

Pershing Square Stock Performance

PS traded up $1.52 during trading on Thursday, reaching $51.86. The company had a trading volume of 431,301 shares, compared to its average volume of 306,599. Pershing Square has a 12 month low of $22.01 and a 12 month high of $60.40. The company’s fifty day moving average price is $47.20. The stock has a market capitalization of $20.74 billion and a P/E ratio of 370.43.

Pershing Square (NYSE:PS) last released its quarterly earnings results on Monday, November 2nd. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $56.60 million for the quarter. On average, research analysts expect that Pershing Square will post 0.50 EPS for the current fiscal year.

Institutional Trading of Pershing Square

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

About Pershing Square

Pershing Square Holdings, Ltd. is an investment holding company that seeks long-term capital appreciation through a concentrated portfolio of investments in publicly traded companies. The company is managed by Pershing Square Capital Management, L.P., an investment management firm that typically takes significant positions in a limited number of businesses and engages with their management teams and boards.

Pershing Square’s investment approach emphasizes fundamental research, long-term ownership and active involvement with portfolio companies.