Blackstone (NYSE:BX) Price Target Increased to $155.00 by Analysts at Evercore ISI

Blackstone (NYSE:BX) had its price objective boosted by analysts at Evercore ISI from $148.00 to $155.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Evercore ISI’s target price indicates a potential upside of 0.65% from the stock’s previous close.

A number of other research analysts have also commented on BX. Deutsche Bank Aktiengesellschaft increased their price objective on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Barclays boosted their price objective on shares of Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Wells Fargo & Company upped their price target on Blackstone from $163.00 to $169.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Redburn Atlantic initiated coverage on Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective on the stock. Finally, Bank of America lifted their price target on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $136.18.

Blackstone Stock Performance

Shares of NYSE BX opened at $154.00 on Monday. Blackstone has a 52-week low of $88.59 and a 52-week high of $161.25. The stock’s fifty day simple moving average is $143.72 and its 200 day simple moving average is $132.14. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $110.06 billion, a price-to-earnings ratio of 54.42, a PEG ratio of 1.24 and a beta of 1.51.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the company earned $0.93 earnings per share. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Blackstone will post 4.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. West Financial Advisors LLC bought a new position in shares of Blackstone during the 3rd quarter valued at about $27,000. Chilton Capital Management LLC bought a new position in Blackstone in the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Blackstone during the second quarter worth $26,000. EdgeRock Capital LLC bought a new stake in Blackstone in the 2nd quarter valued at $27,000. Finally, Bank & Trust Co bought a new position in Blackstone during the 2nd quarter worth about $29,000. 70.00% of the stock is currently owned by institutional investors.

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.