Brokerages Set Pershing Square Inc. (NYSE:PS) Price Target at $42.43

Pershing Square Inc. (NYSE:PS) has been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $42.4286.

A number of analysts have issued reports on the company. Citigroup assumed coverage on Pershing Square in a research note on Tuesday, May 26th. They issued a “buy” rating and a $50.00 price target on the stock. Wall Street Zen cut Pershing Square from a “hold” rating to a “sell” rating in a report on Sunday, June 7th. Bank of America assumed coverage on shares of Pershing Square in a research report on Tuesday, May 26th. They issued a “neutral” rating and a $42.00 price objective for the company. Loop Capital assumed coverage on shares of Pershing Square in a research report on Tuesday, May 26th. They issued a “buy” rating and a $49.00 price objective for the company. Finally, Wells Fargo & Company began coverage on shares of Pershing Square in a research report on Tuesday, May 26th. They issued an “equal weight” rating and a $37.00 price objective for the company.

Insider Buying and Selling at Pershing Square

In related news, CEO William A. Ackman bought 800,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was bought at an average price of $23.77 per share, with a total value of $19,016,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,500,000 shares of the company’s stock, valued at approximately $35,655,000. This represents a 114.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.79% of the stock is owned by insiders.

Pershing Square Price Performance

PS stock opened at $31.06 on Friday. Pershing Square has a one year low of $22.01 and a one year high of $54.94. The company has a market capitalization of $12.42 billion, a price-to-earnings ratio of -40.21 and a beta of 2.27.

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.