Shares of alternative investments management firm Blackstone continued a multiyear run after the coronavirus crash last year. It’s among the top-rated companies in the finance sector. And on Thursday the IBD SmartSelect Composite Rating for Blackstone (BX) climbed to a lofty 96, up from 94 the day before.
The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. Top-performing stocks tend to have a 95 or better grade as they start a significant move, putting the New York-based firm solidly into the watchlist category.
Big Money Buying Blackstone Shares
Its Accumulation/Distribution Rating of B+, on an A+ to E scale with A+ tops, shows moderately strong buying by institutional investors over the last 13 weeks.
However, one weak spot is the company’s 78 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it’s in the top 20% of all stocks.
Blackstone stock was sitting on a 26.88 share price in December 2018. It began to climb and hit 65 in mid-February last year. Then it plunged with the rest of the market but quickly resumed its rise. It closed Thursday at 76.75, up 2% for the day and up nearly 200% in a little over two years.
And in Q4, the company posted 51% earnings-per-share growth, to $1.07. Sales climbed 74% to $3.63 billion last quarter. The company’s next quarterly report is expected on or around April 23.
Other Highly Rated Capital Management Firms
Blackstone earns the No. 6 rank among its peers in the Finance-Investment Management industry group. Price T Rowe Group (TROW), Artisan Partners Asset Management (APAM) and FS KKR CapitalCorpII (FSKR) are among the top 5 highly rated stocks within the group.
Blackstone is currently extended beyond a proper buy zone after clearing the 60.30 buy point in a consolidation. See if it creates a new buy opportunity such as a three-weeks-tight pattern or a rebound off its 50-day or 10-week line.
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