Blackstone (NYSE:BX) PT Raised to $126.00 at Barclays

Blackstone (NYSE:BX) had its price objective upped by equities researchers at Barclays from $125.00 to $126.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Barclays‘s target price would suggest a potential downside of 0.48% from the company’s current price.

Several other research firms also recently issued reports on BX. Piper Sandler lowered their price objective on Blackstone from $143.00 to $134.00 and set an “overweight” rating for the company in a research note on Wednesday. JMP Securities reissued a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Argus increased their target price on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. TD Cowen decreased their target price on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 19th. Finally, UBS Group increased their target price on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $123.00.

Blackstone Trading Up 1.9 %

BX opened at $126.61 on Wednesday. Blackstone has a twelve month low of $88.59 and a twelve month high of $133.56. The company has a 50-day simple moving average of $122.74 and a 200 day simple moving average of $124.26. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $90.48 billion, a price-to-earnings ratio of 44.74, a P/E/G ratio of 1.01 and a beta of 1.50.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The business’s quarterly revenue was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.97 earnings per share. Analysts predict that Blackstone will post 4.77 EPS for the current fiscal year.

Insider Activity

In other news, Director Ruth Porat acquired 219 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average price of $119.48 per share, with a total value of $26,166.12. Following the acquisition, the director now owns 34,445 shares in the company, valued at approximately $4,115,488.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ruth Porat acquired 219 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average price of $119.48 per share, with a total value of $26,166.12. Following the acquisition, the director now owns 34,445 shares in the company, valued at approximately $4,115,488.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the sale, the director now directly owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BX. OLD National Bancorp IN boosted its position in shares of Blackstone by 1.8% during the 2nd quarter. OLD National Bancorp IN now owns 5,646 shares of the asset manager’s stock valued at $699,000 after acquiring an additional 101 shares during the last quarter. Clarius Group LLC boosted its position in shares of Blackstone by 1.5% during the 2nd quarter. Clarius Group LLC now owns 11,570 shares of the asset manager’s stock valued at $1,432,000 after acquiring an additional 176 shares during the last quarter. CX Institutional boosted its position in shares of Blackstone by 4.7% during the 2nd quarter. CX Institutional now owns 2,541 shares of the asset manager’s stock valued at $315,000 after acquiring an additional 113 shares during the last quarter. Csenge Advisory Group boosted its position in shares of Blackstone by 4.2% during the 2nd quarter. Csenge Advisory Group now owns 6,158 shares of the asset manager’s stock valued at $762,000 after acquiring an additional 250 shares during the last quarter. Finally, Indiana Trust & Investment Management CO boosted its position in shares of Blackstone by 1,339.2% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 1,799 shares of the asset manager’s stock valued at $223,000 after acquiring an additional 1,674 shares during the last quarter. 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.