Royal Bank Of Canada upgraded shares of Pershing Square (NYSE:PS – Free Report) to a hold rating in a report issued on Tuesday,Zacks.com reports.
Several other equities analysts have also issued reports on PS. Citigroup assumed coverage on Pershing Square in a research report on Tuesday. They issued a “buy” rating and a $50.00 price objective for the company. Loop Capital assumed coverage on Pershing Square in a research report on Tuesday. They issued a “buy” rating and a $49.00 price objective for the company. Oppenheimer assumed coverage on Pershing Square in a research report on Tuesday. They issued a “market perform” rating for the company. Bank of America assumed coverage on Pershing Square in a research report on Tuesday. They issued a “neutral” rating and a $42.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on Pershing Square in a research report on Monday. They issued a “hold” rating and a $40.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $42.43.
Check Out Our Latest Analysis on Pershing Square
Pershing Square Price Performance
Insiders Place Their Bets
In other news, CEO William A. Ackman purchased 800,000 shares of Pershing Square stock in a transaction on Thursday, April 30th. The stock was purchased at an average price of $23.77 per share, with a total value of $19,016,000.00. Following the transaction, the chief executive officer directly owned 1,500,000 shares in the company, valued at $35,655,000. The trade was a 114.29% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 21.79% of the stock is currently owned by company 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.
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