Wall Street Zen Upgrades Pershing Square (NYSE:PS) to “Hold”

Pershing Square (NYSE:PS) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

PS has been the subject of a number of other research reports. Citigroup lowered shares of Pershing Square from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a report on Wednesday, August 19th. JonesTrading downgraded shares of Pershing Square from a “buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Wells Fargo & Company initiated coverage on shares of Pershing Square in a research report on Thursday. They set an “underweight” rating and a $41.00 target price on the stock. Royal Bank Of Canada decreased their price target on shares of Pershing Square from $40.00 to $38.00 and set a “sector perform” rating for the company in a research note on Monday, July 13th. Finally, Weiss Ratings upgraded Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Pershing Square presently has a consensus rating of “Reduce” and an average price target of $41.89.

Pershing Square Stock Down 0.2%

Shares of Pershing Square stock opened at $52.68 on Friday. The firm has a fifty day simple moving average of $41.84. Pershing Square has a 52 week low of $22.01 and a 52 week high of $59.94. The company has a market cap of $21.07 billion and a P/E ratio of 376.29.

Pershing Square (NYSE:PS) last released its earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $68.03 million for the quarter. On average, equities analysts anticipate that Pershing Square will post 0.56 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PS. Integrated Wealth Concepts LLC purchased a new position in Pershing Square during the 2nd quarter valued at about $132,000. Ancora Advisors LLC purchased a new stake in shares of Pershing Square in the 2nd quarter worth approximately $302,000. Wedbush Securities Inc. bought a new position in shares of Pershing Square during the second quarter valued at approximately $529,000. Hsbc Holdings PLC bought a new position in shares of Pershing Square during the second quarter valued at approximately $775,000. Finally, Readystate Asset Management LP purchased a new position in Pershing Square during the second quarter valued at approximately $822,000.

Pershing Square Company Profile

Pershing Square USA, Ltd. is a closed-end investment company listed on the New York Stock Exchange under the symbol PS. The company is designed to provide investors with long-term capital appreciation through a concentrated portfolio of investments in publicly traded businesses.

The fund is managed by Pershing Square Capital Management, L.P., an investment management firm founded and led by William A. Ackman. Its investment approach generally emphasizes detailed fundamental research, activist engagement when appropriate, and ownership of a limited number of companies that the manager believes have durable business models, strong management teams, and long-term growth potential.

Pershing Square USA primarily focuses on publicly traded companies in the United States and other developed markets, with investment decisions centered on individual business fundamentals rather than broad market exposure.