Blackstone (NYSE:BX) Price Target Lowered to $180.00 at Evercore ISI

Key Points

• Evercore ISI has lowered its price target for Blackstone from $197.00 to $180.00, maintaining an "outperform" rating which indicates a potential upside of 11.73% from the current price.
• Other analysts, including Barclays and Keefe, Bruyette & Woods, have also adjusted their price targets downward, with Barclays setting a new target of $171.00.
• Blackstone's stock has seen a slight decline of 0.2%, currently trading at $161.10, with an overall market capitalization of $118.75 billion.

Blackstone (NYSE:BX - Get Free Report) had its price target lowered by analysts at Evercore ISI from $197.00 to $180.00 in a research note issued on Wednesday,MarketScreener reports. The firm presently has an "outperform" rating on the asset manager's stock. Evercore ISI's price target suggests a potential upside of 11.73% from the stock's current price.

Other analysts have also issued research reports about the company. Barclays dropped their price objective on Blackstone from $181.00 to $171.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods dropped their price objective on Blackstone from $180.00 to $171.00 and set a "market perform" rating on the stock in a research note on Monday, October 13th. The Goldman Sachs Group upped their target price on Blackstone from $172.00 to $173.00 and gave the company a "neutral" rating in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft decreased their target price on Blackstone from $194.00 to $188.00 and set a "buy" rating on the stock in a research report on Thursday, October 9th. Finally, BMO Capital Markets assumed coverage on Blackstone in a research report on Friday, October 3rd. They issued an "outperform" rating and a $190.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Blackstone currently has a consensus rating of "Moderate Buy" and an average target price of $182.79.

Blackstone Stock Down 0.2%

BX traded down $0.33 on Wednesday, hitting $161.10. 190,317 shares of the company were exchanged, compared to its average volume of 4,092,827. Blackstone has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a market cap of $118.75 billion, a PE ratio of 43.31, a PEG ratio of 1.30 and a beta of 1.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. The stock's fifty day moving average is $171.23 and its 200-day moving average is $155.27.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The business had revenue of $2.49 billion for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. Equities research analysts predict that Blackstone will post 5.87 EPS for the current fiscal year.

Insider Activity

In other Blackstone news, insider John G. Finley sold 21,500 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the completion of the sale, the insider directly owned 453,836 shares in the company, valued at $77,814,720.56. This represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of the business's stock in a transaction on Monday, September 22nd. The shares were acquired at an average price of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the purchase, the insider directly owned 7,506,209 shares of the company's stock, valued at approximately $192,234,012.49. The trade was a 51.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. Company insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

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

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.

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