Barclays Increases Blackstone (NYSE:BX) Price Target to $174.00

Blackstone (NYSE:BX) had its price target increased by equities researchers at Barclays from $155.00 to $174.00 in a report released on Friday, 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 0.95% from the company’s previous close.

BX has been the topic of several other research reports. Morgan Stanley lifted their price target on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Bank of America lifted their target price on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 19th. The Goldman Sachs Group lifted their target price on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday. UBS Group lifted their target price on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $152.41.

Blackstone Trading Up 1.5 %

Shares of BX stock opened at $172.36 on Friday. The firm’s 50 day moving average is $147.01 and its 200 day moving average is $133.27. The stock has a market capitalization of $123.18 billion, a P/E ratio of 60.90, a P/E/G ratio of 1.24 and a beta of 1.51. Blackstone has a 12-month low of $88.59 and a 12-month high of $175.94. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company’s revenue was up 166.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 EPS. Research analysts expect that Blackstone will post 4.46 earnings per share for the current year.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Chilton Capital Management LLC acquired a new position in Blackstone during the 1st quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone during the 2nd quarter valued at approximately $26,000. EdgeRock Capital LLC acquired a new position in Blackstone during the 2nd quarter valued at approximately $27,000. West Financial Advisors LLC acquired a new position in Blackstone during the 3rd quarter valued at approximately $27,000. Finally, Bank & Trust Co acquired a new position in Blackstone during the 2nd quarter valued at approximately $29,000. Institutional investors own 70.00% of the company’s stock.

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.