Oppenheimer Forecasts Strong Price Appreciation for The Carlyle Group (NASDAQ:CG) Stock

The Carlyle Group (NASDAQ:CG - Get Free Report) had its target price raised by equities research analysts at Oppenheimer from $78.00 to $85.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Oppenheimer's target price would suggest a potential upside of 59.47% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Evercore ISI boosted their price objective on shares of The Carlyle Group from $45.00 to $47.00 and gave the stock an "in-line" rating in a research note on Monday, October 14th. TD Cowen boosted their price target on The Carlyle Group from $43.00 to $49.00 and gave the company a "hold" rating in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of The Carlyle Group from $44.00 to $50.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their target price on The Carlyle Group from $42.00 to $48.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 9th. Finally, Barclays upped their price target on The Carlyle Group from $50.00 to $57.00 and gave the stock an "overweight" rating in a research note on Friday. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, The Carlyle Group has a consensus rating of "Hold" and a consensus target price of $53.33.

The Carlyle Group Stock Performance

CG traded up $0.97 during trading on Monday, hitting $53.30. The stock had a trading volume of 7,383,176 shares, compared to its average volume of 2,355,495. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.32 and a quick ratio of 2.55. The firm has a market cap of $19.00 billion, a price-to-earnings ratio of 183.90, a P/E/G ratio of 1.33 and a beta of 1.70. The company has a 50 day moving average price of $45.62 and a 200-day moving average price of $43.42. The Carlyle Group has a one year low of $29.56 and a one year high of $54.52.

The Carlyle Group (NASDAQ:CG - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.08. The business had revenue of $895.00 million for the quarter, compared to the consensus estimate of $908.17 million. The Carlyle Group had a return on equity of 24.91% and a net margin of 2.21%. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 earnings per share. As a group, research analysts predict that The Carlyle Group will post 3.72 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Carlyle Group Inc. sold 133,643 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $2.51, for a total value of $335,443.93. Following the sale, the insider now directly owns 4,767,697 shares of the company's stock, valued at $11,966,919.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 1,676,014 shares of company stock worth $3,687,196 over the last ninety days. 27.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Carlyle Group

A number of hedge funds have recently made changes to their positions in the business. Capital International Investors purchased a new position in The Carlyle Group in the 1st quarter worth approximately $142,511,000. Boston Partners bought a new stake in The Carlyle Group during the 1st quarter valued at $109,122,000. Massachusetts Financial Services Co. MA grew its holdings in The Carlyle Group by 17,468.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,715,748 shares of the financial services provider's stock worth $68,887,000 after acquiring an additional 1,705,982 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of The Carlyle Group in the second quarter valued at about $37,009,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of The Carlyle Group during the first quarter worth about $23,455,000. 55.88% of the stock is currently owned by institutional investors.

About The Carlyle Group

The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.