Pershing Square (NYSE:PS) Stock Moved Down to Sell by Citigroup

Pershing Square (NYSE:PS) was downgraded by equities research analysts at Citigroup from a “neutral” rating to a “sell” rating in a research note issued on Friday, Marketbeat Ratings reports. They presently have a $45.00 price target on the stock. Citigroup’s price objective suggests a potential downside of 16.70% from the stock’s previous close.

A number of other equities analysts also recently weighed in on PS. Royal Bank Of Canada lifted their target price on shares of Pershing Square from $41.00 to $44.00 and gave the stock a “sector perform” rating in a research note on Monday, October 5th. JonesTrading downgraded shares of Pershing Square from a “buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Tigress Financial lifted 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 raised shares of Pershing Square from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. Finally, Wells Fargo & Company assumed coverage on shares of Pershing Square in a research note on Thursday, October 1st. They set an “underweight” rating and a $41.00 target price for the company. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Pershing Square has an average rating of “Reduce” and a consensus target price of $42.56.

Pershing Square Trading Down 1.0%

Shares of PS stock traded down $0.57 during trading hours on Friday, hitting $54.02. 179,350 shares of the company’s stock traded hands, compared to its average volume of 419,951. The firm has a 50 day moving average price of $44.49. The stock has a market cap of $21.61 billion and a PE ratio of 385.86. Pershing Square has a 12 month low of $22.01 and a 12 month high of $60.40.

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, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $68.03 million for the quarter. Equities analysts forecast that Pershing Square will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pershing Square

Several hedge funds and other institutional investors have recently bought and sold shares of PS. Integrated Wealth Concepts LLC bought a new stake in Pershing Square in the second quarter valued at $132,000. Ancora Advisors LLC bought a new stake in Pershing Square in the second quarter valued at $302,000. Wedbush Securities Inc. bought a new stake in Pershing Square in the second quarter valued at $529,000. Hsbc Holdings PLC bought a new stake in Pershing Square in the second quarter valued at $775,000. Finally, Readystate Asset Management LP bought a new stake in Pershing Square in the second quarter valued at $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.