TD Cowen Trims Blackstone (NYSE:BX) Target Price to $114.00

Blackstone (NYSE:BX) had its target price lowered by equities research analysts at TD Cowen from $117.00 to $114.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the asset manager’s stock. TD Cowen’s price target suggests a potential downside of 3.72% from the company’s current price.

A number of other research firms also recently commented on BX. Morgan Stanley boosted their target price on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Friday. TheStreet lowered shares of Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. Barclays reaffirmed an “equal weight” rating and issued a $125.00 target price (down previously from $129.00) on shares of Blackstone in a research note on Friday. Finally, JMP Securities reissued a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $118.92.

Blackstone Trading Down 1.6 %

Shares of BX stock opened at $118.40 on Friday. Blackstone has a 1-year low of $79.92 and a 1-year high of $133.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.80. The business’s fifty day moving average price is $126.47 and its 200 day moving average price is $117.84. The firm has a market capitalization of $84.61 billion, a PE ratio of 41.84, a P/E/G ratio of 0.99 and a beta of 1.51.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, hitting analysts’ consensus estimates of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the firm earned $0.97 earnings per share. The firm’s revenue was up 166.9% on a year-over-year basis. As a group, sell-side analysts forecast that Blackstone will post 4.86 EPS for the current fiscal year.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the sale, the insider now directly owns 393,143 shares in the company, valued at $50,294,783.99. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider John G. Finley sold 49,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total value of $6,268,570.00. Following the completion of the sale, the insider now owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ruth Porat purchased 232 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was bought at an average price of $127.08 per share, with a total value of $29,482.56. Following the acquisition, the director now owns 34,225 shares in the company, valued at $4,349,313. The disclosure for this purchase can be found here. In the last quarter, insiders sold 2,587,168 shares of company stock worth $37,816,476. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Northwest Financial Advisors acquired a new position in shares of Blackstone in the 4th quarter valued at approximately $25,000. Coppell Advisory Solutions LLC acquired a new stake in Blackstone in the second quarter valued at $25,000. Bourgeon Capital Management LLC increased its position in shares of Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Roble Belko & Company Inc acquired a new stake in shares of Blackstone in the 4th quarter valued at about $30,000. Finally, Advantage Trust Co acquired a new position in Blackstone in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

About Blackstone

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.