Blackstone (NYSE:BX) PT Raised to $126.00

Blackstone (NYSE:BX) had its target price upped by equities researchers at Barclays from $125.00 to $126.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Barclays‘s price target suggests a potential downside of 0.48% from the stock’s previous close.

BX has been the subject of several other research reports. TD Cowen cut their price target on Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a report on Friday, April 19th. Bank of America cut their price target on Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a report on Friday, April 19th. Morgan Stanley lifted their target price on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. UBS Group lifted their target price on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, JMP Securities reiterated a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $123.00.

Blackstone Stock Up 1.9 %

Shares of BX opened at $126.61 on Wednesday. The business’s 50 day moving average is $122.74 and its 200 day moving average is $124.26. The company has a market capitalization of $90.48 billion, a PE ratio of 44.74, a price-to-earnings-growth ratio of 1.01 and a beta of 1.50. Blackstone has a 12-month low of $88.59 and a 12-month high of $133.56. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, meeting the consensus estimate of $0.98. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. Research analysts expect that Blackstone will post 4.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat bought 219 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was acquired at an average cost of $119.48 per share, with a total value of $26,166.12. Following the transaction, the director now directly owns 34,445 shares in the company, valued at approximately $4,115,488.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ruth Porat purchased 219 shares of Blackstone stock in a transaction dated Monday, May 6th. The stock was purchased at an average cost of $119.48 per share, with a total value of $26,166.12. Following the transaction, the director now owns 34,445 shares in the company, valued at approximately $4,115,488.60. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the transaction, the director now directly owns 921,184 shares of the company’s stock, valued at $113,305,632. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Northwest Financial Advisors acquired a new position in Blackstone during the 4th quarter valued at about $25,000. Chilton Capital Management LLC acquired a new position in Blackstone during the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone during the 2nd quarter valued at about $26,000. Bourgeon Capital Management LLC increased its position in Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Finally, Roble Belko & Company Inc purchased a new stake in Blackstone during the 4th quarter valued at about $30,000. 70.00% of the stock is owned by institutional investors.

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.