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

Pershing Square (NYSE:PS) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday, Wall Street Zen reports.

Other research analysts also recently issued reports about the stock. JonesTrading downgraded shares of Pershing Square from a “buy” rating to a “hold” rating in a report on Tuesday, September 29th. Weiss Ratings upgraded Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Tigress Financial raised their price objective on Pershing Square from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Citigroup lowered Pershing Square from a “neutral” rating to a “sell” rating and set a $45.00 price objective on the stock. in a research report on Friday. Finally, Royal Bank Of Canada boosted their price objective on Pershing Square from $41.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Monday, October 5th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Pershing Square presently has a consensus rating of “Reduce” and a consensus price target of $42.56.

Pershing Square Stock Performance

PS stock opened at $54.02 on Friday. The stock’s 50 day moving average is $44.49. The firm has a market cap of $21.61 billion and a PE ratio of 385.86. Pershing Square has a 1 year low of $22.01 and a 1 year high of $60.40.

Pershing Square (NYSE:PS) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $68.03 million during the quarter. On average, analysts predict that Pershing Square will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Pershing Square

A number of hedge funds have recently bought and sold shares of PS. Integrated Wealth Concepts LLC bought a new stake in Pershing Square during the second quarter valued at $132,000. Ancora Advisors LLC bought a new position in shares of Pershing Square in the 2nd quarter worth about $302,000. Wedbush Securities Inc. bought a new position in shares of Pershing Square in the 2nd quarter worth about $529,000. Hsbc Holdings PLC bought a new position in shares of Pershing Square in the 2nd quarter worth about $775,000. Finally, Readystate Asset Management LP acquired a new position in shares of Pershing Square in the 2nd quarter valued at about $822,000.

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.