Pershing Square (NYSE:PS) Stock Rating Lowered by JonesTrading

Pershing Square (NYSE:PS) was downgraded by stock analysts at JonesTrading from a “buy” rating to a “hold” rating in a report issued on Tuesday, MarketBeat reports.

Several other equities research analysts also recently weighed in on PS. Tigress Financial increased their target price on shares of Pershing Square from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. Wall Street Zen cut shares of Pershing Square from a “hold” rating to a “sell” rating in a research note on Sunday, June 7th. Citigroup cut Pershing Square from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research report on Wednesday, August 19th. Weiss Ratings upgraded shares of Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada decreased their price target on Pershing Square from $40.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Pershing Square currently has an average rating of “Hold” and an average price target of $41.33.

Pershing Square Stock Down 9.3%

NYSE PS opened at $53.68 on Tuesday. The company has a fifty day moving average of $40.68. Pershing Square has a 1 year low of $22.01 and a 1 year high of $59.94. The firm has a market capitalization of $21.47 billion and a P/E ratio of 383.43.

Pershing Square (NYSE:PS) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $68.03 million for the quarter. As a group, sell-side analysts anticipate that Pershing Square will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On Pershing Square

Several large investors have recently added to or reduced their stakes in PS. Integrated Wealth Concepts LLC purchased a new stake in Pershing Square in the 2nd quarter valued at about $132,000. Ancora Advisors LLC purchased a new position in shares of Pershing Square during the 2nd quarter worth about $302,000. Wedbush Securities Inc. acquired a new stake in shares of Pershing Square in the second quarter worth approximately $529,000. Hsbc Holdings PLC acquired a new stake in shares of Pershing Square in the second quarter worth approximately $775,000. Finally, Readystate Asset Management LP purchased a new stake in Pershing Square in the second quarter valued at approximately $822,000.

Pershing Square Company Profile

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.