Pershing Square (NYSE:PS) Now Covered by Analysts at JonesTrading

Investment analysts at JonesTrading started coverage on shares of Pershing Square (NYSE:PS) in a report issued on Wednesday,Benzinga reports. The firm set a “buy” rating and a $39.00 price target on the stock. JonesTrading’s price objective would indicate a potential upside of 17.54% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. UBS Group assumed coverage on Pershing Square in a report on Tuesday, May 26th. They issued a “neutral” rating and a $39.00 price objective for the company. Wells Fargo & Company began coverage on shares of Pershing Square in a research note on Tuesday, May 26th. They set an “equal weight” rating and a $37.00 price target for the company. Zacks Research upgraded shares of Pershing Square to a “hold” rating in a research note on Friday, May 29th. Royal Bank Of Canada began coverage on shares of Pershing Square in a research note on Tuesday, May 26th. They set a “sector perform” rating and a $40.00 target price for the company. Finally, Bank of America started coverage on Pershing Square in a report on Tuesday, May 26th. They set a “neutral” rating and a $42.00 price target on the stock. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $42.00.

Pershing Square Price Performance

PS opened at $33.18 on Wednesday. Pershing Square has a one year low of $22.01 and a one year high of $54.94. The firm has a market capitalization of $13.27 billion, a PE ratio of -40.21 and a beta of 2.27. The business’s 50-day moving average price is $35.75.

Insider Activity

In related news, CEO William A. Ackman purchased 800,000 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was acquired at an average price of $23.77 per share, for a total transaction of $19,016,000.00. Following the acquisition, the chief executive officer directly owned 1,500,000 shares of the company’s stock, valued at $35,655,000. This trade represents a 114.29% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.79% of the stock is owned by corporate 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.