Piper Sandler has recently reduced Blackstone Inc (BX) stock to Neutral rating, as announced on October 9, 2024, according to Finviz. Earlier, on September 12, 2024, Wells Fargo had initiated the stock to Overweight, setting a price target of $163. Redburn Atlantic also initiated Neutral rating with a price target of $134. Additionally, UBS reduced Neutral rating on April 2, 2024, with a target price of $135. Citigroup analysts, in their report published on January 19, 2024, also reduced Neutral rating and set a price target of $116 for Blackstone Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Blackstone Inc (BX) Stock Trading Recap
On Wednesday, Blackstone Inc (BX) stock saw a decline, ending the day at $166.92 which represents a decrease of $-1.58 or -0.94% from the prior close of $168.5. The stock opened at $168.37 and touched a low of $165.04 during the day, reaching a high of $170.45. The volume of shares traded was 3.17 million falling short of the average volume of 3.26 million.
Sponsored
BX Stock Performance and Moving Averages
In recent trading, Blackstone Inc (BX) stock price has shown some volatility, fluctuating 4.51% over the last five trades and 5.95% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 35.78%, and it has gained 19.60% in the previous three months. Currently, BX is trading at 6.40%, 12.01%, and 27.38% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, BX, a Financial sector stock, is trading -5.13% below its 52-week high but remains 90.65% above its 52-week low. The Average True Range (ATR) (14 days) of 4.23 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Blackstone Inc’s Profitability and Valuation Ratios
Blackstone Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 47.01% and a profit margin of 19.00%, with a gross margin of 35.78%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Blackstone Inc’s market capitalization stands at $202.13 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 57.38, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 28.87. Additionally, the Price-to-Sales Ratio is 17.27, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 29.1, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 41.13% of Blackstone Inc (BX)’s shares, while financial institutions hold 41.56%.
Notable insider trades include Baratta Joseph, Director at Blackstone Inc (BX), who sold 116448 shares on Oct 01 ’24, at $150.81 each, totaling $17.56 million. On Aug 21 ’24, Blackstone Inc., 10% Owner, sold 30539203 shares for $16.58 each, amounting to $506.34 million. Additionally, on Aug 07 ’24, Finley John G sold 35000 shares at $131.74 each, generating $4.61 million.
