Blackstone Inc (NYSE: BX) has experienced a rise in its stock price by 1.55 compared to its previous closing price of 169.73. However, the company has seen a gain of 12.62% in its stock price over the last five trading days. benzinga.com reported 2024-10-18 that Blackstone Inc BX reported better-than-expected third-quarter financial results on Thursday.
Is It Worth Investing in Blackstone Inc (NYSE: BX) Right Now?
The price-to-earnings ratio for Blackstone Inc (NYSE: BX) is above average at 59.25x, Company’s 36-month beta value is 1.50.Analysts have differing opinions on the stock, with 6 analysts rating it as a “buy,” 6 as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for BX is 712.88M, and currently, short sellers hold a 2.53% ratio of that floaft. The average trading volume of BX on October 21, 2024 was 3.37M shares.
BX’s Market Performance
The stock of Blackstone Inc (BX) has seen a 12.62% increase in the past week, with a 7.95% rise in the past month, and a 22.48% gain in the past quarter. The volatility ratio for the week is 2.69%, and the volatility levels for the past 30 days are at 2.21% for BX.. The simple moving average for the past 20 days is 11.24% for BX’s stock, with a 32.26% simple moving average for the past 200 days.
Analysts’ Opinion of BX
Many brokerage firms have already submitted their reports for BX stocks, with Piper Sandler repeating the rating for BX by listing it as a “Neutral.” The predicted price for BX in the upcoming period, according to Piper Sandler is $149 based on the research report published on October 09, 2024 of the current year 2024.
Wells Fargo, on the other hand, stated in their research note that they expect to see BX reach a price target of $163. The rating they have provided for BX stocks is “Overweight” according to the report published on September 12th, 2024.
Redburn Atlantic gave a rating of “Neutral” to BX, setting the target price at $134 in the report published on August 27th of the current year.
BX Trading at 17.44% from the 50-Day Moving Average
After a stumble in the market that brought BX to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 0.06% of gains for the given period.
Volatility was left at 2.21%, however, over the last 30 days, the volatility rate increased by 2.69%, as shares surge +9.01% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +31.92% upper at present.
During the last 5 trading sessions, BX rose by +12.62%, which changed the moving average for the period of 200-days by +40.87% in comparison to the 20-day moving average, which settled at $154.94. In addition, Blackstone Inc saw 33.21% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BX starting from Baratta Joseph, who sale 116,448 shares at the price of $150.81 back on Oct 01 ’24. After this action, Baratta Joseph now owns 799,749 shares of Blackstone Inc, valued at $17,561,066 using the latest closing price.
Baratta Joseph, the Officer of Blackstone Inc, proposed sale 116,448 shares at $150.81 during a trade that took place back on Oct 01 ’24, which means that Baratta Joseph is holding shares at $17,561,242 based on the most recent closing price.
Stock Fundamentals for BX
Current profitability levels for the company are sitting at:
- 0.53 for the present operating margin
- 0.99 for the gross margin
The net margin for Blackstone Inc stands at 0.22. The total capital return value is set at 0.14. Equity return is now at value 31.46, with 5.28 for asset returns.
Based on Blackstone Inc (BX), the company’s capital structure generated 0.61 points at debt to capital in total, while cash flow to debt ratio is standing at 0.23. The debt to equity ratio resting at 1.58. The interest coverage ratio of the stock is 11.12.
Currently, EBITDA for the company is 3.48 billion with net debt to EBITDA at 1.89. When we switch over and look at the enterprise to sales, we see a ratio of 25.36. The receivables turnover for the company is 1.78for trailing twelve months and the total asset turnover is 0.22.
Conclusion
In a nutshell, Blackstone Inc (BX) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
