Blackstone (NYSE:BX) Upgraded by JMP Securities to "Market Outperform" Rating

Blackstone (NYSE:BX - Get Free Report) was upgraded by JMP Securities from a "market perform" rating to a "market outperform" rating in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a $165.00 price objective on the asset manager's stock. JMP Securities' price target suggests a potential upside of 29.73% from the stock's current price.

BX has been the topic of several other research reports. BMO Capital Markets lifted their price objective on shares of Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. boosted their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company lowered their price target on Blackstone from $180.00 to $160.00 and set an "equal weight" rating for the company in a report on Thursday, March 20th. Finally, Barclays cut their price objective on Blackstone from $186.00 to $129.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Blackstone presently has a consensus rating of "Hold" and a consensus target price of $157.22.

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Blackstone Price Performance

NYSE BX traded down $0.26 on Tuesday, hitting $127.19. 7,805,964 shares of the company were exchanged, compared to its average volume of 3,690,525. The firm has a 50 day moving average of $149.11 and a two-hundred day moving average of $165.63. Blackstone has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market cap of $92.77 billion, a P/E ratio of 35.04, a P/E/G ratio of 1.07 and a beta of 1.61.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. On average, equities analysts predict that Blackstone will post 5.87 EPS for the current year.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares of the company's stock, valued at $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blackstone

Several institutional investors and hedge funds have recently modified their holdings of BX. Bangor Savings Bank lifted its position in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after acquiring an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in Blackstone during the 4th quarter worth approximately $28,000. Centricity Wealth Management LLC bought a new stake in Blackstone in the 4th quarter valued at $30,000. Murphy & Mullick Capital Management Corp bought a new position in Blackstone during the 4th quarter worth $33,000. Finally, Berbice Capital Management LLC bought a new stake in shares of Blackstone in the fourth quarter valued at about $34,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

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.