Barclays Increases Blackstone (NYSE:BX) Price Target to $136.00

Blackstone (NYSE:BX - Get Free Report) had its target price upped by research analysts at Barclays from $129.00 to $136.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the asset manager's stock. Barclays's target price would suggest a potential upside of 2.41% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company reduced their target price on Blackstone from $160.00 to $139.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. StockNews.com cut shares of Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Morgan Stanley reduced their price target on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. UBS Group raised Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 price objective on the stock in a research report on Monday, March 17th. Finally, Piper Sandler lowered their target price on Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Blackstone has an average rating of "Hold" and an average price target of $154.82.

Blackstone Trading Down 1.3 %

Blackstone stock traded down $1.75 during trading hours on Monday, reaching $132.80. The company had a trading volume of 4,663,070 shares, compared to its average volume of 3,760,752. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone has a 12-month low of $115.66 and a 12-month high of $200.96. The firm has a market cap of $96.87 billion, a price-to-earnings ratio of 36.58, a P/E/G ratio of 1.07 and a beta of 1.61. The company has a 50-day moving average price of $141.56 and a 200 day moving average price of $163.98.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period last year, the business earned $0.98 EPS. Equities analysts forecast that Blackstone will post 5.87 earnings per share for the current year.

Insider Activity

In related news, Director Ruth Porat bought 301 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company's stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Blackstone

A number of institutional investors and hedge funds have recently modified their holdings of BX. Bangor Savings Bank grew its stake in shares of Blackstone by 187.5% during 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 period. Hager Investment Management Services LLC purchased a new stake in Blackstone during the fourth quarter valued at approximately $28,000. Centricity Wealth Management LLC purchased a new position in shares of Blackstone during the 4th quarter worth $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Blackstone in the 4th quarter worth $33,000. Finally, Berbice Capital Management LLC purchased a new position in Blackstone during the fourth quarter valued at $34,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

About Blackstone

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.