Pershing Square (NYSE:PS) Earns Neutral Rating from Analysts at Bank of America

Stock analysts at Bank of America started coverage on shares of Pershing Square (NYSE:PS) in a report released on Tuesday. The brokerage set a “neutral” rating and a $42.00 price target on the stock. Bank of America‘s target price suggests a potential upside of 18.31% from the company’s current price.

A number of other brokerages have also recently weighed in on PS. Citigroup started coverage on shares of Pershing Square in a research report on Tuesday. They set a “buy” rating for the company. Oppenheimer started coverage on shares of Pershing Square in a research report on Tuesday. They set a “market perform” rating for the company. Jefferies Financial Group started coverage on shares of Pershing Square in a report on Monday. They issued a “hold” rating and a $40.00 price objective on the stock. Royal Bank Of Canada started coverage on shares of Pershing Square in a report on Tuesday. They issued a “sector perform” rating and a $40.00 price objective on the stock. Finally, UBS Group started coverage on shares of Pershing Square in a report on Tuesday. They issued a “neutral” rating and a $39.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.60.

Pershing Square Price Performance

Shares of Pershing Square stock opened at $35.50 on Tuesday. Pershing Square has a twelve month low of $22.01 and a twelve month high of $54.94. The firm has a market cap of $5.27 billion, a P/E ratio of -30.60 and a beta of 2.27.

Insider Buying and Selling

In related news, CEO William A. Ackman bought 800,000 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were acquired at an average price of $23.77 per share, for a total transaction of $19,016,000.00. Following the purchase, the chief executive officer owned 1,500,000 shares in the company, valued at $35,655,000. This trade represents a 114.29% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 21.79% of the stock is owned by corporate 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.