Keefe Bruyette slashes price target on Blackstone Inc. [BX] – find out why.

Blackstone Inc. [NYSE: BX] gained 7.06% or 7.12 points to close at $107.94 with a heavy trading volume of 5767308 shares. The company report on August 9, 2022 that Blackstone Funds Complete $13 Billion Acquisition of American Campus Communities.

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Blackstone (NYSE: BX) today announced that Blackstone Core+ perpetual capital vehicles, primarily comprising Blackstone Real Estate Income Trust, Inc. (“BREIT”) and Blackstone Property Partners (“BPP”), have completed the previously announced acquisition of all of the outstanding shares of common stock of American Campus Communities, Inc. (“ACC”), the largest developer, owner and manager of high-quality student housing communities in the United States, for approximately $12.8 billion, including the assumption of debt.

“We are proud and excited to have our best-in-class company join Blackstone, whose expertise, resources and consistent access to capital will allow us to grow and continue to lead the student housing industry,” said Bill Bayless, American Campus Communities Co-founder and Chief Executive Officer. “This transaction created significant value for our shareholders and represents the culmination of our team’s passionate and dedicated service to our student residents and university partners.”.

It opened the trading session at $103.75, the shares rose to $108.84 and dropped to $103.64, the range by which the price of stock traded the whole day. The daily chart for BX points out that the company has recorded -16.14% loss over the past six months. However, it is still -24.11% lower than its most recent low trading price.

If we look at the average trading volume of 4.77M shares, BX reached to a volume of 5767308 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Blackstone Inc. [BX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BX shares is $121.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BX stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Keefe Bruyette have made an estimate for Blackstone Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on July 25, 2022. The new note on the price target was released on April 07, 2022, representing the official price target for Blackstone Inc. stock. Previously, the target price had yet another raise to $182, while BofA Securities analysts kept a Buy rating on BX stock.

The Average True Range (ATR) for Blackstone Inc. is set at 4.14, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 7.53. The Price to Book ratio for the last quarter was 8.21, with the Price to Cash per share for the same quarter was set at 3.22.

Trading performance analysis for BX stock

Blackstone Inc. [BX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.78. With this latest performance, BX shares gained by 14.81% in over the last four-week period, additionally sinking by -16.14% over the last 6 months – not to mention a drop of -5.17% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BX stock in for the last two-week period is set at 62.25, with the RSI for the last a single of trading hit 67.51, and the three-weeks RSI is set at 58.00 for Blackstone Inc. [BX]. The present Moving Average for the last 50 days of trading for this stock 100.23, while it was recorded at 103.10 for the last single week of trading, and 117.99 for the last 200 days.

Blackstone Inc. [BX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Blackstone Inc. [BX] shares currently have an operating margin of +109.08 and a Gross Margin at +98.91. Blackstone Inc.’s Net Margin is presently recorded at +46.52.

Return on Equity for this stock inclined to 72.88, with Return on Assets sitting at 17.36.

Blackstone Inc. [BX]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Blackstone Inc. go to 15.31%.

An analysis of insider ownership at Blackstone Inc. [BX]

There are presently around $47,492 million, or 64.70% of BX stock, in the hands of institutional investors. The top three institutional holders of BX stocks are: VANGUARD GROUP INC with ownership of 44,984,296, which is approximately 12.641% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 38,236,401 shares of the stock with an approximate value of $4.13 billion in BX stocks shares; and MORGAN STANLEY, currently with $2.15 billion in BX stock with ownership of nearly -4.579% of the company’s market capitalization.

Positions in Blackstone Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 861 institutional holders increased their position in Blackstone Inc. [NYSE:BX] by around 50,210,678 shares. Additionally, 687 investors decreased positions by around 40,860,871 shares, while 248 investors held positions by with 348,917,636 shares. The mentioned changes placed institutional holdings at 439,989,185 shares, according to the latest SEC report filing. BX stock had 138 new institutional investments in for a total of 22,796,709 shares, while 161 institutional investors sold positions of 7,758,580 shares during the same period.


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