Blackstone (NYSE:BX) Price Target Raised to $165.00

Blackstone (NYSE:BX - Get Free Report) had its target price increased by analysts at Evercore ISI from $152.00 to $165.00 in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm currently has an "outperform" rating on the asset manager's stock. Evercore ISI's target price would suggest a potential upside of 1.72% from the company's previous close.

Several other equities analysts have also weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $165.00 target price on shares of Blackstone in a report on Thursday, April 24th. Piper Sandler lifted their target price on shares of Blackstone from $140.00 to $157.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Morgan Stanley cut their price target on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Citigroup cut their price target 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. Finally, Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a report on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $161.29.

Blackstone Stock Performance

NYSE BX traded down $1.85 on Thursday, hitting $162.21. 3,976,798 shares of the company's stock traded hands, compared to its average volume of 3,889,852. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. Blackstone has a 1-year low of $115.66 and a 1-year high of $200.96. The firm's 50-day moving average price is $143.68 and its two-hundred day moving average price is $150.80. The firm has a market capitalization of $118.36 billion, a PE ratio of 48.86, a P/E/G ratio of 1.48 and a beta of 1.65.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share 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 19.83% and a return on equity of 19.84%. During the same period last year, the firm earned $0.98 earnings per share. As a group, analysts expect that Blackstone will post 5.87 EPS for the current year.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of Blackstone stock in a transaction dated Thursday, May 1st. The shares were acquired at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the transaction, the insider owned 1,666,667 shares of the company's stock, valued at $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ruth Porat purchased 237 shares of Blackstone stock in a transaction dated Monday, May 5th. The shares were acquired at an average cost of $136.33 per share, for a total transaction of $32,310.21. Following the transaction, the director directly owned 37,067 shares of the company's stock, valued at approximately $5,053,344.11. This represents a 0.64% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Blackstone

Hedge funds have recently made changes to their positions in the business. 1248 Management LLC purchased a new stake in shares of Blackstone during the first quarter worth approximately $25,000. von Borstel & Associates Inc. purchased a new stake in shares of Blackstone during the first quarter worth approximately $28,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Blackstone during the first quarter worth approximately $28,000. Anderson Financial Strategies LLC purchased a new position in Blackstone in the first quarter valued at approximately $28,000. Finally, Livelsberger Financial Advisory purchased a new position in Blackstone in the second quarter valued at approximately $30,000. Institutional investors and hedge funds 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.