Blackstone (NYSE:BX) Stock Price Expected to Rise, Barclays Analyst Says

Blackstone (NYSE:BX - Get Free Report) had its price target increased by stock analysts at Barclays from $129.00 to $136.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the asset manager's stock. Barclays's price objective indicates a potential upside of 2.41% from the stock's previous close.

Several other research firms have also issued reports on BX. Piper Sandler lowered their target price on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. TD Cowen dropped their target price on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley dropped their price target on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Keefe, Bruyette & Woods lifted their target price on shares of Blackstone from $174.00 to $177.00 and gave the stock a "market perform" rating in a report on Friday, January 31st. Finally, Citigroup decreased their price objective on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $154.82.

Blackstone Stock Down 1.3 %

Shares of BX stock traded down $1.75 during midday trading on Monday, reaching $132.80. 4,663,070 shares of the stock were exchanged, compared to its average volume of 3,764,258. The firm has a market cap of $96.87 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. 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's 50 day moving average is $141.56 and its two-hundred day moving average is $163.98. Blackstone has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same period in the prior year, the business posted $0.98 EPS. On average, equities research analysts predict that Blackstone will post 5.87 EPS for the current year.

Insider Activity

In other Blackstone news, Director Ruth Porat purchased 301 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were bought 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 in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Blackstone

Hedge funds and other institutional investors have recently modified their holdings of the stock. Morse Asset Management Inc grew its holdings in Blackstone by 0.7% during the 3rd quarter. Morse Asset Management Inc now owns 11,232 shares of the asset manager's stock valued at $1,720,000 after buying an additional 80 shares in the last quarter. McIlrath & Eck LLC raised its position in Blackstone by 6.5% during the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager's stock valued at $156,000 after purchasing an additional 62 shares during the period. Virtu Financial LLC purchased a new position in shares of Blackstone in the 3rd quarter worth approximately $5,163,000. Stock Yards Bank & Trust Co. boosted its position in Blackstone by 2.5% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 25,865 shares of the asset manager's stock valued at $3,961,000 after buying an additional 624 shares during the period. Finally, World Investment Advisors LLC boosted its holdings in shares of Blackstone by 1.8% in the third quarter. World Investment Advisors LLC now owns 69,523 shares of the asset manager's stock valued at $10,646,000 after purchasing an additional 1,238 shares during the period. Institutional investors own 70.00% of the company's stock.

Blackstone Company Profile

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.