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

Blackstone (NYSE:BX) had its target price increased by equities research analysts at Evercore ISI from $148.00 to $155.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. Evercore ISI’s price objective suggests a potential upside of 0.65% from the stock’s previous close.

A number of other analysts also recently commented on BX. The Goldman Sachs Group upped their price objective on Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Wells Fargo & Company boosted their target price on Blackstone from $163.00 to $169.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. TD Cowen raised their price target on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a report on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $136.18.

Blackstone Trading Up 0.6 %

Shares of BX stock opened at $154.00 on Monday. The company has a market capitalization of $110.06 billion, a price-to-earnings ratio of 54.42, a PEG ratio of 1.24 and a beta of 1.51. Blackstone has a twelve month low of $88.59 and a twelve month high of $161.25. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $143.72 and a 200 day moving average price of $132.14.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) 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 business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the business earned $0.93 EPS. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. Research analysts forecast that Blackstone will post 4.46 earnings per share for the current fiscal year.

Insider Transactions at Blackstone

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

Institutional Investors Weigh In On Blackstone

Several large investors have recently made changes to their positions in BX. West Financial Advisors LLC bought a new stake in shares of Blackstone during the third quarter valued at about $27,000. Chilton Capital Management LLC bought a new stake in shares of Blackstone during the 1st quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone in the second quarter valued at approximately $26,000. EdgeRock Capital LLC bought a new stake in Blackstone during the second quarter worth approximately $27,000. Finally, Bank & Trust Co bought a new position in Blackstone during the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

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.