Blackstone (NYSE:BX) Given Hold (C) Rating at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "hold (c)" rating for Blackstone (NYSE:BX), indicating a neutral outlook for the company's stock.
• Research firms have varying ratings on Blackstone, with a consensus "Moderate Buy" and a target price averaging around $179.67, reflecting a range of analyst opinions.
• Blackstone's recent quarterly earnings report showed an EPS of $1.21, exceeding expectations, with a revenue increase of 32.7% year-over-year.

Blackstone (NYSE:BX - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other research firms have also recently issued reports on BX. Evercore ISI lifted their target price on Blackstone from $165.00 to $197.00 and gave the company an "outperform" rating in a report on Friday, July 25th. BMO Capital Markets began coverage on Blackstone in a research report on Friday, October 3rd. They set an "outperform" rating and a $190.00 price objective for the company. JMP Securities lifted their target price on Blackstone from $180.00 to $195.00 and gave the stock a "market outperform" rating in a report on Friday, July 25th. Keefe, Bruyette & Woods boosted their target price on shares of Blackstone from $168.00 to $180.00 and gave the company a "market perform" rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company increased their target price on shares of Blackstone from $153.00 to $167.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $179.67.

Blackstone Stock Performance

Shares of Blackstone stock traded down $2.43 during trading hours on Wednesday, reaching $162.48. 2,992,596 shares of the stock traded hands, compared to its average volume of 4,111,061. The company has a 50 day moving average price of $173.37 and a 200 day moving average price of $154.03. The firm has a market capitalization of $119.76 billion, a price-to-earnings ratio of 43.68, a P/E/G ratio of 1.36 and a beta of 1.77. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone has a one year low of $115.66 and a one year high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.11. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The business's revenue was up 32.7% compared to the same quarter last year. On average, equities research analysts expect that Blackstone will post 5.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joseph Baratta sold 113,000 shares of the company's stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the transaction, the director owned 695,757 shares in the company, valued at $122,237,547.33. This represents a 13.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings I. L.P. Blackstone purchased 1,189,532 shares of the company's stock in a transaction dated Friday, July 18th. The stock was purchased at an average cost of $25.22 per share, with a total value of $29,999,997.04. Following the purchase, the insider owned 4,178,771 shares in the company, valued at approximately $105,388,604.62. This trade represents a 39.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 3,727,877 shares of company stock worth $95,046,625 and have sold 16,984,634 shares worth $155,181,346. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Blackstone

A number of institutional investors have recently bought and sold shares of BX. 1248 Management LLC acquired a new position in shares of Blackstone in the 1st quarter worth approximately $25,000. Traub Capital Management LLC bought a new stake in Blackstone in the 2nd quarter valued at $27,000. von Borstel & Associates Inc. acquired a new position in Blackstone during the 1st quarter worth about $28,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Blackstone in the 1st quarter valued at approximately $28,000. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Blackstone in the 1st quarter valued at approximately $28,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

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.

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