Barclays Lowers Blackstone (NYSE:BX) Price Target to $129.00

Blackstone (NYSE:BX) had its target price lowered by research analysts at Barclays from $186.00 to $129.00 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 target indicates a potential upside of 4.19% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and boosted their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. BMO Capital Markets boosted their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Bank of America reduced their price target on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Wells Fargo & Company cut their target price on shares of Blackstone from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 20th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $168.50.

Blackstone Price Performance

NYSE:BX traded down $1.23 during mid-day trading on Monday, hitting $123.81. 4,086,115 shares of the company’s stock traded hands, compared to its average volume of 3,545,066. Blackstone has a 1 year low of $115.24 and a 1 year high of $200.96. The company has a market cap of $90.31 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm’s 50 day simple moving average is $156.29 and its 200 day simple moving average is $167.20.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Sell-side analysts expect that Blackstone will post 5.87 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ruth Porat purchased 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blackstone

Hedge funds have recently made changes to their positions in the business. Morse Asset Management Inc boosted its position in shares of Blackstone by 0.7% in the third quarter. Morse Asset Management Inc now owns 11,232 shares of the asset manager’s stock worth $1,720,000 after buying an additional 80 shares during the period. Wellington Management Group LLP grew its holdings in Blackstone by 29.7% during the third quarter. Wellington Management Group LLP now owns 246,998 shares of the asset manager’s stock valued at $37,823,000 after purchasing an additional 56,559 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in Blackstone by 25.3% during the third quarter. EP Wealth Advisors LLC now owns 27,445 shares of the asset manager’s stock valued at $4,203,000 after acquiring an additional 5,536 shares during the period. Orion Portfolio Solutions LLC boosted its position in shares of Blackstone by 3.6% in the third quarter. Orion Portfolio Solutions LLC now owns 28,456 shares of the asset manager’s stock valued at $4,357,000 after acquiring an additional 982 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in Blackstone in the 3rd quarter valued at $3,225,000. 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.