Piper Sandler Lowers Blackstone (NYSE:BX) Price Target to $140.00

Blackstone (NYSE:BX) had its price objective cut by research analysts at Piper Sandler from $182.00 to $140.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. Piper Sandler’s price target would indicate a potential upside of 1.49% from the stock’s current price.

Several other brokerages have also issued reports on BX. Barclays dropped their price target on Blackstone from $186.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Monday. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and lifted their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Citizens Jmp upgraded Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a research note on Tuesday. UBS Group upgraded Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Monday, March 17th. Finally, BMO Capital Markets boosted their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $157.22.

Blackstone Stock Up 14.9 %

Shares of NYSE BX opened at $137.94 on Tuesday. Blackstone has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a market cap of $100.62 billion, a price-to-earnings ratio of 38.00, a PEG ratio of 1.07 and a beta of 1.61. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $150.91 and a two-hundred day moving average price of $166.02.

Blackstone (NYSE:BX) last released its quarterly 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, analysts forecast that Blackstone will post 5.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ruth Porat bought 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

Several hedge funds have recently added to or reduced their stakes in the business. Chickasaw Capital Management LLC raised its position in shares of Blackstone by 0.6% in the first quarter. Chickasaw Capital Management LLC now owns 14,541 shares of the asset manager’s stock worth $2,033,000 after acquiring an additional 90 shares during the period. Merit Financial Group LLC lifted its stake in Blackstone by 13.0% in the 1st quarter. Merit Financial Group LLC now owns 37,337 shares of the asset manager’s stock valued at $5,219,000 after buying an additional 4,285 shares in the last quarter. Baxter Bros Inc. increased its stake in Blackstone by 71.5% during the 1st quarter. Baxter Bros Inc. now owns 14,948 shares of the asset manager’s stock worth $2,089,000 after buying an additional 6,230 shares in the last quarter. Gradient Investments LLC boosted its stake in shares of Blackstone by 4.7% in the first quarter. Gradient Investments LLC now owns 76,581 shares of the asset manager’s stock worth $10,705,000 after acquiring an additional 3,440 shares during the last quarter. Finally, Arlington Financial Advisors LLC acquired a new position in Blackstone in the 1st quarter valued at $245,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

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.