Pershing Square (NYSE:PS) Upgraded at UBS Group

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

PS has been the topic of a number of other reports. Royal Bank Of Canada started coverage on shares of Pershing Square in a research report on Tuesday. They issued a “sector perform” rating and a $40.00 price objective on the stock. Jefferies Financial Group initiated coverage on shares of Pershing Square in a report on Monday. They set a “hold” rating and a $40.00 price objective on the stock. Bank of America initiated coverage on Pershing Square in a research report on Tuesday. They issued a “neutral” rating and a $42.00 price objective for the company. Oppenheimer initiated coverage on Pershing Square in a research report on Tuesday. They issued a “market perform” rating for the company. Finally, Citigroup assumed coverage on shares of Pershing Square in a report on Tuesday. They set a “buy” rating and a $50.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.43.

Pershing Square Price Performance

NYSE:PS opened at $39.08 on Tuesday. The company has a market capitalization of $5.80 billion, a PE ratio of -33.69 and a beta of 2.27. Pershing Square has a 1 year low of $22.01 and a 1 year high of $54.94.

Insider Buying and Selling

In other Pershing Square news, CEO William A. Ackman acquired 800,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were purchased at an average cost of $23.77 per share, for a total transaction of $19,016,000.00. Following the completion of the acquisition, the chief executive officer owned 1,500,000 shares of the company’s stock, valued at approximately $35,655,000. The trade was a 114.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate 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.