Blackstone (NYSE:BX) Price Target Raised to $175.00

Blackstone (NYSE:BX) had its price objective upped by analysts at Keefe, Bruyette & Woods from $169.00 to $175.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 3.61% from the stock’s current price.

BX has been the subject of a number of other reports. Bank of America upped their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Barclays lifted their target price on Blackstone from $174.00 to $199.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and increased their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Morgan Stanley boosted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a report on Wednesday, October 9th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average price target of $169.13.

Blackstone Stock Performance

NYSE BX opened at $168.91 on Friday. The company has a fifty day moving average of $178.46 and a two-hundred day moving average of $150.78. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Blackstone has a 1 year low of $114.88 and a 1 year high of $200.96. The company has a market capitalization of $121.95 billion, a PE ratio of 58.04, a P/E/G ratio of 1.63 and a beta of 1.51.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, analysts expect that Blackstone will post 4.43 earnings per share for the current year.

Insider Activity

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on 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 completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

A number of hedge funds have recently added to or reduced their stakes in the business. West Financial Advisors LLC acquired a new stake in shares of Blackstone during the 3rd quarter worth $27,000. Ridgewood Investments LLC acquired a new stake in Blackstone during the second quarter worth about $31,000. Raleigh Capital Management Inc. lifted its stake 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 valued at $39,000 after purchasing an additional 62 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in Blackstone by 57.7% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after purchasing an additional 101 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new stake in Blackstone during the second quarter worth approximately $37,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Company Profile

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.