Oppenheimer Increases The Carlyle Group (NASDAQ:CG) Price Target to $78.00

The Carlyle Group (NASDAQ:CG) had its price target lifted by analysts at Oppenheimer from $64.00 to $78.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s target price would suggest a potential upside of 51.93% from the company’s previous close.

A number of other research firms also recently issued reports on CG. Redburn Atlantic began coverage on The Carlyle Group in a research report on Tuesday, August 27th. They issued a “buy” rating and a $55.00 target price on the stock. JPMorgan Chase & Co. downgraded The Carlyle Group from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $46.00 to $44.00 in a report on Tuesday, August 6th. UBS Group lowered their target price on shares of The Carlyle Group from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price target on shares of The Carlyle Group in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of The Carlyle Group from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, The Carlyle Group has a consensus rating of “Hold” and a consensus price target of $50.27.

The Carlyle Group Price Performance

Shares of CG opened at $51.34 on Wednesday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.55 and a current ratio of 2.55. The firm has a market capitalization of $18.48 billion, a PE ratio of -28.68, a P/E/G ratio of 1.25 and a beta of 1.73. The stock has a 50 day simple moving average of $42.26 and a 200 day simple moving average of $42.93. The Carlyle Group has a 52-week low of $27.13 and a 52-week high of $51.40.

The Carlyle Group (NASDAQ:CG) last announced its earnings results on Monday, August 5th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The Carlyle Group had a positive return on equity of 24.30% and a negative net margin of 11.67%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $808.73 million. During the same period in the previous year, the company posted $0.88 earnings per share. The Carlyle Group’s revenue for the quarter was up 131.5% on a year-over-year basis. Sell-side analysts predict that The Carlyle Group will post 3.76 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Carlyle Group Inc. sold 214,732 shares of The Carlyle Group stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $38.97, for a total value of $8,368,106.04. Following the transaction, the insider now owns 10,113,040 shares in the company, valued at approximately $394,105,168.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 2,818,699 shares of company stock worth $48,506,781. Corporate insiders own 27.20% of the company’s stock.

Institutional Investors Weigh In On The Carlyle Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CG. Tobam bought a new stake in The Carlyle Group during the 2nd quarter worth approximately $27,000. Blue Trust Inc. grew its stake in shares of The Carlyle Group by 506.3% in the second quarter. Blue Trust Inc. now owns 770 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 643 shares during the last quarter. Rothschild Investment LLC acquired a new stake in The Carlyle Group in the second quarter valued at $50,000. GAMMA Investing LLC lifted its holdings in The Carlyle Group by 22.8% during the 1st quarter. GAMMA Investing LLC now owns 1,156 shares of the financial services provider’s stock worth $54,000 after buying an additional 215 shares during the period. Finally, 1832 Asset Management L.P. bought a new stake in shares of The Carlyle Group in the 1st quarter valued at about $55,000. Institutional investors own 55.88% of the company’s stock.

The Carlyle Group Company Profile

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.