Pershing Square (NYSE:PS) Stock Rating Upgraded by UBS Group

Pershing Square (NYSE:PS) was upgraded by research analysts at UBS Group to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other research analysts also recently issued reports on the stock. Wells Fargo & Company started coverage on shares of Pershing Square in a research report on Tuesday. They set an “equal weight” rating and a $37.00 price objective on the stock. Loop Capital started coverage on shares of Pershing Square in a research report on Tuesday. They set a “buy” rating and a $49.00 price objective on the stock. Royal Bank Of Canada started coverage on shares of Pershing Square in a research report on Tuesday. They set a “sector perform” rating and a $40.00 price objective on the stock. Oppenheimer started coverage on shares of Pershing Square in a research report on Tuesday. They set a “market perform” rating on the stock. Finally, Citigroup started coverage on shares of Pershing Square in a research report on Tuesday. They set a “buy” rating and a $50.00 price objective on the stock. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $42.43.

Pershing Square Price Performance

NYSE:PS opened at $39.08 on Tuesday. The company has a market cap of $5.80 billion, a P/E ratio of -33.69 and a beta of 2.27. Pershing Square has a fifty-two week low of $22.01 and a fifty-two week high of $54.94.

Insider Buying and Selling at Pershing Square

In other news, CEO William A. Ackman bought 800,000 shares of the stock in a transaction dated Thursday, April 30th. The shares were acquired at an average price of $23.77 per share, with a total value of $19,016,000.00. Following the completion of the acquisition, the chief executive officer directly owned 1,500,000 shares in the company, valued at approximately $35,655,000. The trade was a 114.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.79% of the stock is currently owned by 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.