Pershing Square (NYSE:PS) Raised to Hold at Royal Bank Of Canada

Pershing Square (NYSE:PS) was upgraded by stock analysts at Royal Bank Of Canada to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

PS has been the topic of a number of other reports. Oppenheimer initiated coverage on shares of Pershing Square in a research report on Tuesday. They set a “market perform” rating on the stock. Loop Capital initiated coverage on shares of Pershing Square in a research report on Tuesday. They issued a “buy” rating and a $49.00 target price for the company. Wells Fargo & Company initiated coverage on shares of Pershing Square in a research report on Tuesday. They issued an “equal weight” rating and a $37.00 target price for the company. Citigroup initiated coverage on shares of Pershing Square in a research report on Tuesday. They issued a “buy” rating and a $50.00 target price for the company. Finally, Bank of America initiated coverage on shares of Pershing Square in a research report on Tuesday. They issued a “neutral” rating and a $42.00 target price for the company. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.43.

Pershing Square Trading Up 5.4%

Shares of PS opened at $39.08 on Tuesday. Pershing Square has a 52 week low of $22.01 and a 52 week high of $54.94. The company has a market cap of $5.80 billion, a P/E ratio of -33.69 and a beta of 2.27.

Insider Buying and Selling at Pershing Square

In other news, CEO William A. Ackman acquired 800,000 shares of Pershing Square stock in a transaction dated Thursday, April 30th. The stock was acquired at an average cost of $23.77 per share, for a total transaction of $19,016,000.00. Following the completion of the purchase, the chief executive officer owned 1,500,000 shares of the company’s stock, valued at $35,655,000. This represents a 114.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 21.79% of the company’s stock.

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.