Blackstone (NYSE:BX) Price Target Cut to $164.00 by Analysts at TD Cowen

Blackstone (NYSE:BX) had its price target lowered by equities research analysts at TD Cowen from $183.00 to $164.00 in a report released on Thursday,MarketScreener reports. The firm presently has a “buy” rating on the asset manager’s stock. TD Cowen’s price target points to a potential upside of 20.81% from the stock’s previous close.

A number of other equities analysts also recently issued reports on BX. Rothschild & Co Redburn lowered their price objective on Blackstone from $165.00 to $158.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. Bank of America dropped their price target on shares of Blackstone from $199.00 to $189.00 in a research report on Wednesday, December 10th. Barclays decreased their price objective on shares of Blackstone from $171.00 to $164.00 and set an “equal weight” rating for the company in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a research report on Wednesday, January 21st. Finally, Argus dropped their price objective on Blackstone from $195.00 to $163.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Eleven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $172.82.

Blackstone Trading Up 1.7%

BX opened at $135.75 on Thursday. The company’s 50 day moving average price is $151.00 and its two-hundred day moving average price is $158.66. The firm has a market capitalization of $100.24 billion, a price-to-earnings ratio of 34.97, a PEG ratio of 1.04 and a beta of 1.76. Blackstone has a fifty-two week low of $115.66 and a fifty-two week high of $190.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.76 and a quick ratio of 0.75.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.21. The company had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. Blackstone’s revenue for the quarter was up 41.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.69 earnings per share. As a group, research analysts predict that Blackstone will post 5.87 earnings per share for the current year.

Insider Activity

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the completion of the transaction, the insider owned 2,161 shares in the company, valued at approximately $21,610. The trade was a 99.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 385,208 shares of the stock in a transaction dated Friday, November 21st. The stock was bought at an average cost of $25.96 per share, with a total value of $9,999,999.68. Following the completion of the purchase, the insider owned 16,332,883 shares of the company’s stock, valued at approximately $424,001,642.68. The trade was a 2.42% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blackstone

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. REAP Financial Group LLC purchased a new stake in shares of Blackstone during the third quarter valued at approximately $26,000. Traub Capital Management LLC bought a new stake in shares of Blackstone during the 2nd quarter worth $27,000. Family CFO Inc bought a new position in Blackstone during the fourth quarter valued at about $28,000. Ares Financial Consulting LLC bought a new stake in Blackstone in the fourth quarter worth about $28,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Blackstone during the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors 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.