Pershing Square (NYSE:PS) Upgraded by Wells Fargo & Company to “Hold” Rating

Wells Fargo & Company upgraded shares of Pershing Square (NYSE:PS) to a hold rating in a report published on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently commented on the stock. Oppenheimer assumed coverage on shares of Pershing Square in a research note on Tuesday. They set a “market perform” rating for the company. Bank of America started coverage on shares of Pershing Square in a research note on Tuesday. They set a “neutral” rating and a $42.00 price target for the company. Jefferies Financial Group started coverage on shares of Pershing Square in a research report on Monday. They issued a “hold” rating and a $40.00 price objective for the company. Loop Capital started coverage on shares of Pershing Square in a research report on Tuesday. They issued a “buy” rating and a $49.00 price objective for the company. Finally, UBS Group started coverage on shares of Pershing Square in a research report on Tuesday. They issued a “neutral” rating and a $39.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.43.

Pershing Square Price Performance

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 stock has a market cap of $5.80 billion, a P/E ratio of -33.69 and a beta of 2.27.

Insider Transactions at Pershing Square

In related news, CEO William A. Ackman acquired 800,000 shares of the stock in a transaction on Thursday, April 30th. The stock was bought at an average cost of $23.77 per share, with a total value of $19,016,000.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 21.79% of the stock is currently owned by company 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.