Piper Sandler Has Lowered Expectations for Blackstone (NYSE:BX) Stock Price

Blackstone (NYSE:BX) had its target price dropped by stock analysts at Piper Sandler from $182.00 to $140.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. Piper Sandler’s price target would indicate a potential upside of 12.57% from the stock’s current price.

Other equities analysts have also issued research reports about the company. UBS Group upgraded Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Monday, March 17th. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Bank of America cut their price target on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a report on Friday. Citizens Jmp upgraded shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a research report on Tuesday. Finally, BMO Capital Markets upped their price target on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $166.00.

Blackstone Stock Down 0.5 %

Blackstone stock opened at $124.37 on Tuesday. Blackstone has a 52 week low of $115.66 and a 52 week high of $200.96. The firm has a market cap of $90.72 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. The business’s 50-day moving average price is $155.13 and its 200 day moving average price is $166.95. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. As a group, sell-side analysts anticipate that Blackstone will post 5.87 earnings per share for the current year.

Insider Activity

In other Blackstone news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bangor Savings Bank raised its stake in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares during the period. Hager Investment Management Services LLC purchased a new stake in Blackstone in the fourth quarter valued at approximately $28,000. Centricity Wealth Management LLC purchased a new position in shares of Blackstone during the fourth quarter worth $30,000. Roxbury Financial LLC purchased a new stake in shares of Blackstone in the 4th quarter valued at $34,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in Blackstone during the 4th quarter valued at about $33,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

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.