Blackstone (NYSE:BX - Get Free Report) had its target price dropped by TD Cowen from $233.00 to $147.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the asset manager's stock. TD Cowen's price target points to a potential upside of 12.82% from the stock's current price.
A number of other research firms also recently commented on BX. Wells Fargo & Company cut their price objective on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. UBS Group upgraded 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. Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research note on Tuesday, April 8th. BMO Capital Markets upped their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a "market perform" rating in a report on Thursday, December 19th. Finally, Piper Sandler reduced their target price on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Blackstone has an average rating of "Hold" and a consensus target price of $155.72.
Check Out Our Latest Stock Report on Blackstone
Blackstone Price Performance
Shares of NYSE:BX traded up $3.12 during midday trading on Wednesday, reaching $130.30. 6,843,962 shares of the company's stock traded hands, compared to its average volume of 3,701,842. The company has a market cap of $95.04 billion, a P/E ratio of 35.90, a PEG ratio of 1.07 and a beta of 1.61. The company has a fifty day simple moving average of $149.11 and a two-hundred day simple moving average of $165.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone has a 1 year low of $115.66 and a 1 year high of $200.96.
Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Equities analysts predict that Blackstone will post 5.87 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Ruth Porat purchased 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now directly owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.
Institutional Trading of Blackstone
Several hedge funds have recently added to or reduced their stakes in BX. Pallas Capital Advisors LLC raised its holdings in shares of Blackstone by 32.2% in the 1st quarter. Pallas Capital Advisors LLC now owns 3,419 shares of the asset manager's stock valued at $478,000 after purchasing an additional 833 shares in the last quarter. WFA Asset Management Corp acquired a new position in shares of Blackstone during the 1st quarter worth about $38,000. Farther Finance Advisors LLC raised its position in shares of Blackstone by 18.8% during the 1st quarter. Farther Finance Advisors LLC now owns 16,123 shares of the asset manager's stock worth $2,302,000 after acquiring an additional 2,555 shares in the last quarter. City Holding Co. lifted its stake in Blackstone by 22.5% during the first quarter. City Holding Co. now owns 872 shares of the asset manager's stock worth $122,000 after purchasing an additional 160 shares during the last quarter. Finally, CHICAGO TRUST Co NA raised its holdings in Blackstone by 15.8% during the first quarter. CHICAGO TRUST Co NA now owns 8,939 shares of the asset manager's stock worth $1,249,000 after purchasing an additional 1,218 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.
About Blackstone
(
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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