Blackstone (NYSE:BX) Price Target Raised to $155.00

by · The Markets Daily

Blackstone (NYSE:BX – Free Report) had its target price lifted by Evercore ISI from $148.00 to $155.00 in a research report sent to investors on Monday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the asset manager’s stock.

Several other research analysts also recently commented on BX. Bank of America raised their target price on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Wells Fargo & Company raised their price target on Blackstone from $163.00 to $169.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Piper Sandler cut Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a report on Wednesday, October 9th. Barclays raised their price target on Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Morgan Stanley raised their price objective on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $137.47.

Check Out Our Latest Analysis on BX

Blackstone Trading Up 6.3 %

Shares of Blackstone stock opened at $169.73 on Monday. Blackstone has a 1 year low of $88.59 and a 1 year high of $172.25. The firm has a market cap of $121.30 billion, a PE ratio of 59.98, a P/E/G ratio of 1.24 and a beta of 1.51. The stock has a fifty day moving average price of $146.19 and a 200-day moving average price of $132.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77.

Blackstone (NYSE:BX – Get Free Report) last posted its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The firm’s revenue was up 166.9% compared to the same quarter last year. Equities research analysts anticipate that Blackstone will post 4.46 EPS for the current year.

Insider Activity

In other Blackstone news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the sale, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

A number of institutional investors and hedge funds have recently bought and sold shares of BX. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Blackstone by 1.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after acquiring an additional 7,692 shares during the period. Norden Group LLC boosted its holdings in shares of Blackstone by 2,072.0% in the first quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after acquiring an additional 34,872 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Blackstone by 10.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock valued at $614,000 after acquiring an additional 459 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of Blackstone in the first quarter valued at approximately $65,050,000. Finally, Blue Trust Inc. boosted its holdings in shares of Blackstone by 936.2% in the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after acquiring an additional 5,383 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Company Profile

(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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