Blackstone (NYSE:BX) Upgraded to “Buy” at StockNews.com

by · The Cerbat Gem

Blackstone (NYSE:BX – Get Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

A number of other brokerages have also weighed in on BX. Barclays increased their target price on Blackstone from $174.00 to $199.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Citigroup lifted their price objective on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. The Goldman Sachs Group raised their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group increased their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $171.00.

Get Our Latest Analysis on BX

Blackstone Stock Performance

Shares of BX stock traded up $2.72 during trading on Thursday, reaching $174.06. 2,236,660 shares of the company’s stock were exchanged, compared to its average volume of 2,232,540. The firm’s fifty day moving average price is $180.80 and its 200-day moving average price is $156.25. Blackstone has a twelve month low of $114.88 and a twelve month high of $200.96. The stock has a market capitalization of $125.67 billion, a PE ratio of 59.81, a PEG ratio of 1.63 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX – Get Free Report) last posted its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. As a group, sell-side analysts anticipate that Blackstone will post 4.43 EPS for the current year.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bangor Savings Bank boosted its stake in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the last quarter. West Financial Advisors LLC bought a new stake in Blackstone during the third quarter valued at $27,000. Raleigh Capital Management Inc. raised its position in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its position in shares of Blackstone by 57.7% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 101 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Blackstone in the second quarter worth approximately $39,000. 70.00% of the stock is owned by institutional investors and hedge funds.

About Blackstone

(Get Free Report)

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.

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