Pershing Square (NYSE:PS) Now Covered by Tigress Financial

Research analysts at Tigress Financial began coverage on shares of Pershing Square (NYSE:PS) in a note issued to investors on Monday,Benzinga reports. The firm set a “neutral” rating and a $39.00 price target on the stock. Tigress Financial’s price target indicates a potential upside of 14.20% from the company’s previous close.

A number of other research firms also recently commented on PS. Citigroup cut their target price on shares of Pershing Square from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Zacks Research raised shares of Pershing Square to a “hold” rating in a research report on Friday, May 29th. Wells Fargo & Company cut their price objective on shares of Pershing Square from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, July 20th. Jefferies Financial Group started coverage on shares of Pershing Square in a research note on Monday, May 25th. They set a “hold” rating and a $40.00 price objective for the company. Finally, UBS Group assumed coverage on shares of Pershing Square in a research note on Tuesday, May 26th. They issued a “neutral” rating and a $39.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Pershing Square has a consensus rating of “Hold” and a consensus price target of $40.56.

Pershing Square Price Performance

PS stock opened at $34.15 on Monday. Pershing Square has a twelve month low of $22.01 and a twelve month high of $54.94. The company’s fifty day moving average price is $34.82. The company has a market capitalization of $13.66 billion, a PE ratio of -40.21 and a beta of 2.27.

Insiders Place Their Bets

In related news, CEO William A. Ackman bought 800,000 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were bought 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 owned 1,500,000 shares in the company, valued at approximately $35,655,000. This trade represents a 114.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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.