Evercore ISI Issues Positive Forecast for BlackRock (NYSE:BLK) Stock Price

BlackRock (NYSE:BLK) had its price target lifted by Evercore ISI from $1,200.00 to $1,300.00 in a report issued on Friday,MarketScreener reports. They currently have an outperform rating on the asset manager’s stock.

A number of other research firms have also commented on BLK. BNP Paribas Exane raised their price objective on shares of BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Cowen reaffirmed a “buy” rating on shares of BlackRock in a research note on Wednesday, October 15th. Barclays boosted their price objective on BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. BMO Capital Markets raised their target price on BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Finally, Deutsche Bank Aktiengesellschaft set a $1,320.00 price target on shares of BlackRock and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,303.41.

BlackRock Stock Performance

Shares of BLK traded up $12.22 during trading hours on Friday, reaching $1,081.66. 470,150 shares of the company’s stock traded hands, compared to its average volume of 718,853. The firm has a market capitalization of $167.50 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 1.90 and a beta of 1.48. The business’s fifty day simple moving average is $1,130.62 and its two-hundred day simple moving average is $1,068.02. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The company had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter in the prior year, the company earned $11.46 EPS. The business’s quarterly revenue was up 25.2% on a year-over-year basis. Analysts predict that BlackRock will post 47.41 earnings per share for the current year.

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the sale, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On BlackRock

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacifica Partners Inc. raised its position in BlackRock by 450.0% during the third quarter. Pacifica Partners Inc. now owns 22 shares of the asset manager’s stock valued at $25,000 after buying an additional 18 shares during the period. TruNorth Capital Management LLC increased its holdings in shares of BlackRock by 1,000.0% in the 3rd quarter. TruNorth Capital Management LLC now owns 22 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 20 shares during the period. Garde Capital Inc. lifted its position in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after purchasing an additional 18 shares in the last quarter. Traub Capital Management LLC acquired a new stake in shares of BlackRock during the second quarter worth approximately $28,000. Finally, Whipplewood Advisors LLC grew its position in BlackRock by 107.1% during the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 15 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

About BlackRock

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.