Carlyle Group (NASDAQ:CG) Upgraded by Citigroup to Buy Rating

Carlyle Group (NASDAQ:CG - Get Free Report) was upgraded by equities researchers at Citigroup from a "neutral" rating to a "buy" rating in a note issued to investors on Thursday, MarketBeat.com reports. The firm currently has a $65.00 target price on the financial services provider's stock, up from their previous target price of $44.00. Citigroup's price target would indicate a potential upside of 11.11% from the company's current price.

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods raised their price target on shares of Carlyle Group from $43.00 to $45.00 and gave the company a "market perform" rating in a research report on Monday, May 12th. Wells Fargo & Company raised their target price on Carlyle Group from $45.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. TD Cowen upgraded Carlyle Group from a "hold" rating to a "buy" rating and set a $56.00 price objective on the stock in a research report on Wednesday, May 14th. Cowen raised Carlyle Group from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, Bank of America reduced their price target on Carlyle Group from $47.00 to $46.00 and set an "underperform" rating on the stock in a research report on Friday, April 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $56.13.

Carlyle Group Stock Up 2.9%

Shares of NASDAQ CG traded up $1.63 during trading hours on Thursday, hitting $58.50. The company had a trading volume of 3,308,978 shares, compared to its average volume of 2,673,950. The firm's 50 day moving average is $47.03 and its 200-day moving average is $46.90. Carlyle Group has a 1-year low of $33.02 and a 1-year high of $58.85. The stock has a market capitalization of $21.13 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 1.21 and a beta of 1.86. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 1.56.

Carlyle Group (NASDAQ:CG - Get Free Report) last announced its earnings results on Friday, May 9th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $0.97 by $0.17. The company had revenue of $973.10 million for the quarter, compared to analysts' expectations of $972.27 million. Carlyle Group had a net margin of 19.00% and a return on equity of 23.78%. The business's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share. On average, analysts expect that Carlyle Group will post 4.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carlyle Group

Hedge funds have recently made changes to their positions in the business. Whipplewood Advisors LLC increased its stake in shares of Carlyle Group by 5,100.0% during the 1st quarter. Whipplewood Advisors LLC now owns 572 shares of the financial services provider's stock worth $25,000 after purchasing an additional 561 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Carlyle Group by 101.9% during the 1st quarter. Private Trust Co. NA now owns 636 shares of the financial services provider's stock worth $28,000 after purchasing an additional 321 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Carlyle Group by 755.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 574 shares during the period. Main Street Group LTD acquired a new position in shares of Carlyle Group during the fourth quarter worth about $29,000. Finally, LRI Investments LLC purchased a new stake in shares of Carlyle Group during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 55.88% of the company's stock.

About Carlyle Group

The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.