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

Blackstone (NYSE:BX) had its price target cut by research analysts at Barclays from $199.00 to $192.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Barclays‘s price target points to a potential upside of 13.43% from the company’s previous close.

BX has been the subject of several other research reports. Morgan Stanley raised their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group raised their price objective on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Blackstone has an average rating of “Hold” and an average price target of $169.56.

Blackstone Trading Up 2.1 %

Shares of BX stock opened at $169.27 on Monday. Blackstone has a twelve month low of $114.88 and a twelve month high of $200.96. The stock has a market cap of $122.21 billion, a price-to-earnings ratio of 58.17, a PEG ratio of 1.63 and a beta of 1.53. The company’s 50-day moving average price is $180.70 and its 200-day moving average price is $157.59. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, equities analysts predict that Blackstone will post 4.43 earnings per share for the current year.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BX. West Financial Advisors LLC acquired a new stake in Blackstone during the third quarter worth approximately $27,000. Bangor Savings Bank grew its position in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in Blackstone during the second quarter worth about $39,000. Raleigh Capital Management Inc. grew its holdings in Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares during the period. Finally, Kieckhefer Group LLC acquired a new position in shares of Blackstone during the 4th quarter valued at about $39,000. 70.00% of the stock is currently owned by hedge funds and other 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.