UBS Group Issues Pessimistic Forecast for Blackstone (NYSE:BX) Stock Price

Blackstone (NYSE:BX) had its price target lowered by equities research analysts at UBS Group from $180.00 to $175.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. UBS Group’s target price suggests a potential upside of 37.74% from the company’s previous close.

BX has been the topic of several other reports. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their price target on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods decreased their target price on Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a report on Tuesday. Piper Sandler cut their price target on Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Blackstone from $160.00 to $139.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $153.72.

Blackstone Stock Up 1.7 %

Shares of BX opened at $127.05 on Tuesday. Blackstone has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $142.84 and a two-hundred day moving average price of $164.19. The stock has a market cap of $92.67 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 1.07 and a beta of 1.61.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the company earned $0.98 earnings per share. Equities analysts predict that Blackstone will post 5.87 EPS for the current fiscal year.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

Hedge funds have recently bought and sold shares of the stock. Morse Asset Management Inc lifted its stake in Blackstone by 0.7% in the 3rd quarter. Morse Asset Management Inc now owns 11,232 shares of the asset manager’s stock valued at $1,720,000 after acquiring an additional 80 shares in the last quarter. McIlrath & Eck LLC lifted its position in shares of Blackstone by 6.5% in the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after purchasing an additional 62 shares in the last quarter. Virtu Financial LLC bought a new position in Blackstone in the third quarter valued at $5,163,000. Stock Yards Bank & Trust Co. lifted its position in Blackstone by 2.5% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 25,865 shares of the asset manager’s stock worth $3,961,000 after buying an additional 624 shares in the last quarter. Finally, World Investment Advisors LLC boosted its stake in shares of Blackstone by 1.8% during the 3rd quarter. World Investment Advisors LLC now owns 69,523 shares of the asset manager’s stock worth $10,646,000 after buying an additional 1,238 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

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.