BNP Paribas Exane Lowers Blackstone (NYSE:BX) Price Target to $125.00

Blackstone (NYSE:BX) had its price objective cut by stock analysts at BNP Paribas Exane from $126.00 to $125.00 in a note issued to investors on Tuesday,MarketScreener reports. The firm presently has a “neutral” rating on the asset manager’s stock. BNP Paribas Exane’s price target indicates a potential upside of 8.15% from the company’s current price.

Several other research firms have also recently commented on BX. Deutsche Bank Aktiengesellschaft started coverage on shares of Blackstone in a report on Monday, June 8th. They set a “buy” rating for the company. JPMorgan Chase & Co. decreased their target price on shares of Blackstone from $142.00 to $136.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. The Goldman Sachs Group dropped their price target on shares of Blackstone from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Piper Sandler boosted their target price on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, Oppenheimer raised their price objective on shares of Blackstone from $154.00 to $156.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $149.36.

Blackstone Stock Performance

NYSE:BX opened at $115.58 on Tuesday. The company has a 50-day moving average of $120.36 and a 200-day moving average of $128.78. The firm has a market cap of $85.86 billion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 1.25 and a beta of 1.59. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone has a twelve month low of $101.73 and a twelve month high of $190.09.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the prior year, the company earned $1.11 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Analysts forecast that Blackstone will post 5.9 earnings per share for the current fiscal year.

Insider Transactions at Blackstone

In other news, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the purchase, the insider directly owned 9,111,800 shares of the company’s stock, valued at $182,236,000. The trade was a -2,529.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ruth Porat bought 355 shares of the company’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $123.04 per share, with a total value of $43,679.20. Following the transaction, the director directly owned 41,818 shares in the company, valued at approximately $5,145,286.72. The trade was a 0.86% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 10,252,345 shares of company stock valued at $209,789,893 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BX. Strive Asset Management LLC bought a new stake in Blackstone in the 3rd quarter valued at approximately $30,000. Family CFO Inc acquired a new position in Blackstone in the 4th quarter valued at $28,000. Ares Financial Consulting LLC bought a new stake in Blackstone during the fourth quarter worth about $28,000. Richardson Financial Services Inc. acquired a new position in Blackstone in the 4th quarter worth about $29,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Blackstone in the third quarter valued at about $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.