BlackRock (NYSE:BLK) Stock Rating Reaffirmed by Evercore ISI

BlackRock (NYSE:BLK)‘s stock had its “buy” rating reissued by analysts at Evercore ISI in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. They presently have a $956.00 price objective on the asset manager’s stock. Evercore ISI’s price target indicates a potential upside of 10.16% from the stock’s previous close.

Other analysts have also issued research reports about the company. Morgan Stanley lifted their price objective on BlackRock from $944.00 to $1,017.00 and gave the stock an “overweight” rating in a report on Friday, July 9th. Citigroup boosted their price target on BlackRock from $1,030.00 to $1,035.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets boosted their price target on BlackRock from $773.00 to $803.00 and gave the company a “market perform” rating in a report on Thursday, July 15th. UBS Group boosted their price target on BlackRock from $890.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, July 8th. Finally, Argus boosted their target price on BlackRock from $950.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, July 15th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, BlackRock has an average rating of “Buy” and an average price target of $952.93.

Shares of NYSE:BLK opened at $867.81 on Thursday. The stock has a market capitalization of $132.08 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 2.40 and a beta of 1.15. The stock has a fifty day simple moving average of $895.01 and a two-hundred day simple moving average of $866.24. BlackRock has a 12-month low of $587.90 and a 12-month high of $959.89. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, October 13th. The asset manager reported $10.95 EPS for the quarter, topping the Zacks’ consensus estimate of $9.81 by $1.14. The business had revenue of $5.05 billion during the quarter, compared to analyst estimates of $4.82 billion. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the company earned $9.22 EPS. As a group, equities research analysts predict that BlackRock will post 38.24 EPS for the current year.

In other BlackRock news, General Counsel Christopher J. Meade sold 2,106 shares of the company’s stock in a transaction on Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total transaction of $1,847,467.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.16% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Moser Wealth Advisors LLC purchased a new position in BlackRock in the 2nd quarter worth $26,000. Atlas Private Wealth Advisors raised its stake in BlackRock by 130.8% in the 2nd quarter. Atlas Private Wealth Advisors now owns 30 shares of the asset manager’s stock worth $26,000 after acquiring an additional 17 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in BlackRock during the 2nd quarter worth about $31,000. Clean Yield Group acquired a new stake in BlackRock during the 2nd quarter worth about $35,000. Finally, KB Financial Partners LLC acquired a new stake in BlackRock during the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 78.13% of the company’s stock.

About BlackRock

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Analyst Recommendations for BlackRock (NYSE:BLK)

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