Blackstone (NYSE:BX) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Key Points

• Deutsche Bank raised its price target for Blackstone's stock from $170.00 to $192.00, indicating a potential upside of 7.88% based on the current price.
• Blackstone's latest quarterly earnings exceeded estimates, reporting $1.21 EPS compared to a consensus of $1.10 and revenues of $3.07 billion, up 32.7% year-over-year.
• Insider trading activity has been significant, with insiders purchasing nearly 2.85 million shares valued at approximately $54.93 million in the last three months.

Blackstone (NYSE:BX - Get Free Report) had its price target raised by equities research analysts at Deutsche Bank Aktiengesellschaft from $170.00 to $192.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the asset manager's stock. Deutsche Bank Aktiengesellschaft's price objective indicates a potential upside of 7.88% from the company's current price.

Other equities analysts also recently issued reports about the stock. TD Cowen cut their price target on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research note on Tuesday, April 8th. JMP Securities boosted their price objective on Blackstone from $165.00 to $180.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Wells Fargo & Company upped their price target on Blackstone from $153.00 to $167.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Finally, UBS Group decreased their price target on Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $162.76.

Blackstone Stock Performance

NYSE BX opened at $177.97 on Friday. 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 company has a market cap of $129.85 billion, a P/E ratio of 53.61, a PEG ratio of 1.55 and a beta of 1.65. The company has a fifty day simple moving average of $148.47 and a 200 day simple moving average of $150.63. Blackstone has a 12-month low of $115.66 and a 12-month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.77 billion. Blackstone had a net margin of 19.83% and a return on equity of 19.84%. The business's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. Sell-side analysts predict that Blackstone will post 5.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Ruth Porat bought 237 shares of the company's stock in a transaction on Monday, May 5th. The shares were acquired at an average cost of $136.33 per share, with a total value of $32,310.21. Following the completion of the transaction, the director owned 37,067 shares of the company's stock, valued at approximately $5,053,344.11. This trade represents a 0.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the transaction, the insider directly owned 1,666,667 shares of the company's stock, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 2,849,769 shares of company stock valued at $54,932,307 over the last ninety days. Insiders own 1.00% of the company's stock.

Institutional Trading of Blackstone

Several institutional investors and hedge funds have recently added to or reduced their stakes in BX. 1248 Management LLC bought a new stake in Blackstone during the 1st quarter valued at approximately $25,000. von Borstel & Associates Inc. bought a new position in shares of Blackstone during the 1st quarter valued at approximately $28,000. Wealth Preservation Advisors LLC bought a new position in shares of Blackstone during the 1st quarter valued at approximately $28,000. Anderson Financial Strategies LLC bought a new position in shares of Blackstone during the 1st quarter valued at approximately $28,000. Finally, Family CFO Inc bought a new position in Blackstone in the 2nd quarter valued at $28,000. Institutional investors own 70.00% of the company's stock.

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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