Pershing Square (NYSE:PS) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Pershing Square from “hold” to “sell,” adding to increasingly cautious analyst sentiment.
• Analysts now give the stock an average “Reduce” rating, with one Buy, eight Hold, and three Sell ratings; the consensus price target is $42.56, below the $54.53 opening price cited in the article.
• Pershing Square reported quarterly EPS of $0.14, beating estimates of $0.12, on revenue of $68.03 million. The stock has a market capitalization of $21.81 billion and trades at a P/E ratio of 389.50.

Pershing Square (NYSE:PS - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Sunday, Wall Street Zen reports.

Several other equities analysts have also weighed in on PS. JonesTrading lowered shares of Pershing Square from a "buy" rating to a "hold" rating in a research report on Tuesday, September 29th. Wells Fargo & Company started coverage on shares of Pershing Square in a research note on Thursday, October 1st. They set an "underweight" rating and a $41.00 price target on the stock. Tigress Financial raised their price target on shares of Pershing Square from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, September 3rd. Weiss Ratings upgraded shares of Pershing Square from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. Finally, Citigroup downgraded shares of Pershing Square from a "neutral" rating to a "sell" rating and set a $45.00 target price on the stock. in a research report on Friday. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $42.56.

Pershing Square Stock Up 0.2%

Shares of NYSE PS opened at $54.53 on Friday. Pershing Square has a one year low of $22.01 and a one year high of $60.40. The company has a 50-day moving average price of $44.11. The stock has a market capitalization of $21.81 billion and a P/E ratio of 389.50.

Pershing Square (NYSE:PS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $68.03 million for the quarter. On average, equities research analysts forecast that Pershing Square will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Pershing Square

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC acquired a new stake in shares of Pershing Square during the 2nd quarter worth approximately $14,787,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in Pershing Square in the 2nd quarter valued at $9,858,000. Equitec Proprietary Markets LLC bought a new position in shares of Pershing Square during the 2nd quarter worth about $3,828,000. NewEdge Advisors LLC bought a new stake in Pershing Square in the second quarter valued at about $1,702,000. Finally, Proficio Capital Partners LLC acquired a new position in Pershing Square in the second quarter worth about $1,459,000.

About Pershing Square

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.

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