Brokerages Set Blackstone Group LP (BX) Target Price at $42.77

Blackstone Group LP (NYSE:BX) has been assigned a consensus recommendation of “Buy” from the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $42.77.

Several equities analysts recently weighed in on BX shares. Morgan Stanley decreased their target price on shares of Blackstone Group from $42.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, January 4th. Zacks Investment Research raised shares of Blackstone Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd.

In other Blackstone Group news, major shareholder Holdings L.P. Blackstone III purchased 75,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was acquired at an average price of $24.16 per share, with a total value of $1,812,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have acquired a total of 567,316 shares of company stock valued at $13,583,937 in the last ninety days. Insiders own 1.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in BX. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Blackstone Group during the fourth quarter worth $26,000. Sound Income Strategies LLC lifted its holdings in shares of Blackstone Group by 69.4% during the first quarter. Sound Income Strategies LLC now owns 732 shares of the asset manager’s stock worth $26,000 after buying an additional 300 shares in the last quarter. Essex Savings Bank acquired a new stake in shares of Blackstone Group during the fourth quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Blackstone Group during the fourth quarter worth $32,000. Finally, MCF Advisors LLC lifted its holdings in shares of Blackstone Group by 200.0% during the fourth quarter. MCF Advisors LLC now owns 1,500 shares of the asset manager’s stock worth $45,000 after buying an additional 1,000 shares in the last quarter. 50.27% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:BX traded up $0.14 during midday trading on Wednesday, hitting $35.93. The stock had a trading volume of 3,251,053 shares, compared to its average volume of 3,140,587. Blackstone Group has a 12 month low of $26.88 and a 12 month high of $40.60. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $23.57 billion, a PE ratio of 15.90, a P/E/G ratio of 3.63 and a beta of 1.43.

Blackstone Group (NYSE:BX) last released its earnings results on Thursday, January 31st. The asset manager reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). Blackstone Group had a net margin of 22.56% and a return on equity of 16.48%. The firm had revenue of $504.98 million during the quarter, compared to the consensus estimate of $381.19 million. During the same period in the prior year, the business posted $0.71 earnings per share. Blackstone Group’s quarterly revenue was down 74.2% compared to the same quarter last year. On average, equities analysts predict that Blackstone Group will post 2.45 earnings per share for the current fiscal year.

About Blackstone Group

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.

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Analyst Recommendations for Blackstone Group (NYSE:BX)

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