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

Key Points

• Tigress Financial initiated coverage of Pershing Square with a “neutral” rating and a $39 price target, implying approximately 14.2% upside from the prior close.
• Analyst sentiment is broadly cautious: Pershing Square has an average “Hold” rating and a consensus price target of $40.56, although Loop Capital issued a “Buy” rating with a $49 target.
• CEO William A. Ackman purchased 800,000 shares for approximately $19.0 million, increasing his ownership by 114.29%; insiders collectively own 21.79% of the company.

Equities research analysts at Tigress Financial assumed coverage on shares of Pershing Square (NYSE:PS - Get Free Report) in a research report issued on Monday,Benzinga reports. The firm set a "neutral" rating and a $39.00 price target on the stock. Tigress Financial's target price points to a potential upside of 14.20% from the stock's previous close.

PS has been the topic of several other reports. UBS Group started coverage on Pershing Square in a research note on Tuesday, May 26th. They set a "neutral" rating and a $39.00 target price on the stock. Jefferies Financial Group started coverage on Pershing Square in a research note on Monday, May 25th. They set a "hold" rating and a $40.00 price objective for the company. Loop Capital initiated coverage on Pershing Square in a report on Tuesday, May 26th. They issued a "buy" rating and a $49.00 target price on the stock. Bank of America began coverage on Pershing Square in a research note on Tuesday, May 26th. They issued a "neutral" rating and a $42.00 target price on the stock. Finally, Oppenheimer initiated coverage on Pershing Square in a research report on Tuesday, May 26th. They issued a "market perform" rating for the company. Three research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $40.56.

Pershing Square Price Performance

PS opened at $34.15 on Monday. The firm's 50 day simple moving average is $34.82. The company has a market cap of $13.66 billion, a price-to-earnings ratio of -40.21 and a beta of 2.27. Pershing Square has a one year low of $22.01 and a one year high of $54.94.

Insider Activity

In other Pershing Square news, CEO William A. Ackman bought 800,000 shares of Pershing Square stock in a transaction on Thursday, April 30th. The stock was acquired at an average cost of $23.77 per share, with a total value of $19,016,000.00. Following the completion of the acquisition, the chief executive officer owned 1,500,000 shares in the company, valued at approximately $35,655,000. This represents a 114.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 21.79% of the company's stock.

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.

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