Barclays Cuts Blackstone (NYSE:BX) Price Target to $192.00

Blackstone (NYSE:BX) had its target price reduced by equities researchers at Barclays from $199.00 to $192.00 in a report released on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Barclays‘s price objective suggests a potential upside of 18.93% from the company’s previous close.

BX has been the topic of several other reports. UBS Group boosted their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Piper Sandler lifted their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. BMO Capital Markets increased their target price on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods increased their price objective on shares of Blackstone from $169.00 to $175.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, Evercore ISI upped their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $170.56.

Blackstone Price Performance

Shares of Blackstone stock opened at $161.44 on Monday. Blackstone has a twelve month low of $114.88 and a twelve month high of $200.96. The company has a 50-day simple moving average of $180.73 and a two-hundred day simple moving average of $156.98. The stock has a market capitalization of $116.56 billion, a price-to-earnings ratio of 55.48, a price-to-earnings-growth ratio of 1.63 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Analysts forecast that Blackstone will post 4.43 EPS for the current year.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blackstone

Large investors have recently added to or reduced their stakes in the company. Quest Partners LLC increased its position in shares of Blackstone by 12,090.0% during the second quarter. Quest Partners LLC now owns 1,219 shares of the asset manager’s stock valued at $151,000 after buying an additional 1,209 shares during the period. American Century Companies Inc. boosted its holdings in Blackstone by 3.5% in the 2nd quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock valued at $7,277,000 after purchasing an additional 2,002 shares during the period. BOKF NA raised its position in shares of Blackstone by 12.0% in the second quarter. BOKF NA now owns 8,764 shares of the asset manager’s stock worth $1,085,000 after buying an additional 940 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Blackstone by 12.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 60,445 shares of the asset manager’s stock worth $7,483,000 after buying an additional 6,788 shares in the last quarter. Finally, Greenwich Wealth Management LLC raised its holdings in shares of Blackstone by 1.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 41,125 shares of the asset manager’s stock valued at $5,091,000 after acquiring an additional 399 shares in the last quarter. Hedge funds and other 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.