Pershing Square’s (PS) “Hold” Rating Reaffirmed at JonesTrading

Pershing Square (NYSE:PS)‘s stock had its “hold” rating reaffirmed by analysts at JonesTrading in a report issued on Tuesday, Benzinga reports.

Other research analysts also recently issued research reports about the company. Tigress Financial upped their target price on Pershing Square from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Wells Fargo & Company raised their target price on Pershing Square from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, September 3rd. Royal Bank Of Canada dropped their price target on Pershing Square from $40.00 to $38.00 and set a “sector perform” rating on the stock in a research report on Monday, July 13th. Citigroup downgraded Pershing Square from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a report on Wednesday, August 19th. Finally, Wall Street Zen cut shares of Pershing Square from a “hold” rating to a “sell” rating in a report on Sunday, June 7th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Pershing Square has a consensus rating of “Hold” and an average price target of $41.33.

Pershing Square Trading Up 6.3%

Shares of Pershing Square stock opened at $59.69 on Tuesday. The firm’s fifty day moving average is $40.32. Pershing Square has a 12-month low of $22.01 and a 12-month high of $59.94. The stock has a market cap of $23.88 billion and a P/E ratio of 426.36.

Pershing Square (NYSE:PS) last announced 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 company had revenue of $68.03 million for the quarter. As a group, sell-side analysts expect that Pershing Square will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Pershing Square

Several large investors have recently modified their holdings of PS. Rivernorth Capital Management LLC bought a new position in Pershing Square in the 2nd quarter worth about $14,787,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in Pershing Square during the 2nd quarter valued at about $9,858,000. Equitec Proprietary Markets LLC purchased a new position in Pershing Square in the second quarter worth about $3,828,000. NewEdge Advisors LLC bought a new position in shares of Pershing Square in the second quarter worth approximately $1,702,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Pershing Square in the second quarter worth approximately $1,459,000.

About Pershing Square

Pershing Square USA, Ltd. is a closed-end investment company listed on the New York Stock Exchange under the symbol PS. Rather than operating a conventional commercial business, the company invests shareholder capital in a concentrated portfolio of publicly traded companies.

The fund seeks long-term capital appreciation by investing primarily in large, established North American businesses. Its investment approach emphasizes fundamental research, a limited number of high-conviction holdings, and active engagement with portfolio companies when appropriate.

Pershing Square USA is managed by Pershing Square Capital Management, an investment management firm founded by William A.