Blackstone (NYSE:BX) Price Target Raised to $167.00

Blackstone (NYSE:BX - Get Free Report) had its price target hoisted by Wells Fargo & Company from $153.00 to $167.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the asset manager's stock. Wells Fargo & Company's price target would indicate a potential upside of 2.95% from the company's current price.

A number of other brokerages have also weighed in on BX. Barclays restated an "equal weight" rating on shares of Blackstone in a research report on Thursday. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods cut their target price on Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. JMP Securities restated a "market outperform" rating and set a $165.00 target price on shares of Blackstone in a research report on Thursday, April 24th. Finally, TD Cowen dropped their price target on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Blackstone presently has a consensus rating of "Hold" and a consensus target price of $161.29.

Blackstone Stock Performance

NYSE:BX traded down $1.85 on Friday, hitting $162.21. The company's stock had a trading volume of 3,976,798 shares, compared to its average volume of 3,887,856. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. The stock has a fifty day moving average of $143.19 and a two-hundred day moving average of $151.07. The firm has a market capitalization of $118.36 billion, a P/E ratio of 48.86, a price-to-earnings-growth ratio of 1.50 and a beta of 1.65. Blackstone has a one year low of $115.66 and a one year high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.13). The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a net margin of 19.83% and a return on equity of 19.84%. During the same quarter in the prior year, the company earned $0.98 EPS. Research analysts predict that Blackstone will post 5.87 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was acquired at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the acquisition, the insider directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ruth Porat acquired 237 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was acquired at an average cost of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the purchase, the director owned 37,067 shares in the company, valued at $5,053,344.11. The trade was a 0.64% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

Institutional Trading of Blackstone

A number of hedge funds and other institutional investors have recently made changes to their positions in BX. 1248 Management LLC purchased a new position in Blackstone in the 1st quarter worth about $25,000. von Borstel & Associates Inc. bought a new stake in shares of Blackstone in the 1st quarter valued at approximately $28,000. Wealth Preservation Advisors LLC bought a new stake in Blackstone during the first quarter worth approximately $28,000. Anderson Financial Strategies LLC bought a new stake in Blackstone during the first quarter worth approximately $28,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Blackstone in the second quarter valued at approximately $30,000. 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.