Pershing Square Inc. (NYSE:PS) Stock Has Average Target Price of $41.33 According to Analysts

Pershing Square Inc. (NYSE:PS) has been assigned an average rating of “Hold” from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $41.33.

Several analysts have weighed in on PS shares. JonesTrading downgraded Pershing Square from a “buy” rating to a “hold” rating in a research note on Tuesday. Wall Street Zen downgraded Pershing Square from a “hold” rating to a “sell” rating in a report on Sunday, June 7th. Wells Fargo & Company upped their target price on Pershing Square from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, September 3rd. Royal Bank Of Canada cut their price target on shares of Pershing Square from $40.00 to $38.00 and set a “sector perform” rating on the stock in a report on Monday, July 13th. Finally, Tigress Financial raised their price target on shares of Pershing Square from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd.

Pershing Square Trading Up 4.1%

NYSE PS opened at $55.77 on Monday. Pershing Square has a 12-month low of $22.01 and a 12-month high of $59.94. The business has a fifty day moving average of $41.09. The stock has a market capitalization of $22.31 billion and a PE ratio of 398.36.

Pershing Square (NYSE:PS) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $68.03 million for the quarter. On average, sell-side analysts forecast that Pershing Square will post 0.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new stake in Pershing Square during the second quarter worth about $132,000. Ancora Advisors LLC purchased a new stake in Pershing Square during the second quarter worth $302,000. Wedbush Securities Inc. acquired a new stake in Pershing Square during the second quarter valued at $529,000. Hsbc Holdings PLC acquired a new stake in Pershing Square during the second quarter valued at $775,000. Finally, Readystate Asset Management LP purchased a new position in Pershing Square in the second quarter valued at $822,000.

Pershing Square Company Profile

Pershing Square USA, Ltd. is a closed-end investment company listed on the New York Stock Exchange under the symbol PS. The company is designed to provide investors with long-term capital appreciation through a concentrated portfolio of investments in publicly traded businesses.

The fund is managed by Pershing Square Capital Management, L.P., an investment management firm founded and led by William A. Ackman. Its investment approach generally emphasizes detailed fundamental research, activist engagement when appropriate, and ownership of a limited number of companies that the manager believes have durable business models, strong management teams, and long-term growth potential.

Pershing Square USA primarily focuses on publicly traded companies in the United States and other developed markets, with investment decisions centered on individual business fundamentals rather than broad market exposure.