Pershing Square (NYSE:PS) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Pershing Square from “sell” to “hold.” Analysts overall remain cautious: the consensus rating is “Reduce,” with a $44.11 average price target.
• Pershing Square shares opened at $44.73, within a 52-week range of $22.01 to $60.40; the 50-day moving average is $47.85.
• The company reported quarterly EPS of $0.12, missing the $0.13 analyst consensus, and revenue of $56.6 million.

Pershing Square (NYSE:PS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other research analysts also recently issued reports on the stock. Tigress Financial lifted their price objective on shares of Pershing Square from $41.00 to $54.00 and gave the stock a "neutral" rating in a research report on Thursday, November 5th. JonesTrading cut shares of Pershing Square from a "buy" rating to a "hold" rating in a research report on Tuesday, September 29th. Weiss Ratings restated a "sell (d+)" rating on shares of Pershing Square in a research note on Wednesday, November 4th. Citigroup lowered shares of Pershing Square from a "neutral" rating to a "sell" rating and set a $45.00 price target on the stock. in a report on Friday, October 9th. Finally, UBS Group lifted their price target on shares of Pershing Square from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $44.11.

Pershing Square Stock Performance

Shares of PS stock opened at $44.73 on Friday. The company's 50-day moving average is $47.85. Pershing Square has a 1-year low of $22.01 and a 1-year high of $60.40.

Pershing Square (NYSE:PS - Get Free Report) last announced its earnings results on Monday, November 2nd. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). The business had revenue of $56.60 million for the quarter. On average, equities analysts anticipate that Pershing Square will post 0.50 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PS. NewEdge Advisors LLC purchased a new stake in Pershing Square in the second quarter valued at approximately $1,702,000. Equitec Proprietary Markets LLC acquired a new position in Pershing Square in the 2nd quarter worth approximately $3,828,000. Proficio Capital Partners LLC purchased a new position in Pershing Square during the 2nd quarter worth approximately $1,459,000. Rivernorth Capital Management LLC purchased a new position in Pershing Square during the 2nd quarter worth approximately $14,787,000. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in Pershing Square during the 2nd quarter valued at approximately $9,858,000.

Pershing Square Company Profile

Pershing Square is an investment company associated with Pershing Square Capital Management, an alternative investment manager founded by Bill Ackman in 2004. The firm is based in New York and focuses on investing in a concentrated portfolio of publicly traded companies. Its investment approach combines fundamental research with active engagement with portfolio companies. Pershing Square has also operated investment vehicles that provide investors with exposure to its strategy. Bill Ackman is Pershing Square's founder and chief executive.

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