BlackRock Inc (NYSE:BLK) close to 52-week high, short interest down

BlackRock Inc (NYSE:BLK) (TREND ANALYSIS) shares were traded with a significant increase in volume. The stock closed last trading session at $351.97, up by 0.6%, with a volume of 1,601,852 shares against an average volume for the last 3 months of 816,720.

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BlackRock Inc (NYSE:BLK) stock is currently trading 8.06% below its 52-week-high, 27.99% above its 52-week-low. The 1-year stock price history is in the range of $275 – $382.84. BlackRock Inc (BLK) has a price to earnings ratio of 18.1 versus Financial sector average of 16.18. BLK stock price has underperformed the S&P 500 by 2.3%. The Invest Management & Advisory Services company is currently valued at $58.45 billion and its share price closed the last trading session at $351.97. The stock has a 50-day moving average of $317.26 and a 200-day moving average of $339.25.

BlackRock Inc (BLK) current short interest stands at 2.49 million shares. It has decreased by 4% from the same period of last month. Around 2% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.85 million shares, the number of days required to cover the short positions stand at 3 days.

BLK reported last quarter earnings on October 14. The Invest Management & Advisory Services company announced earnings per share of $5 against a consensus Street estimate of $4.51, beating the average estimate by $0.49. This corresponds to an increase of $0.05 compared to the same quarter of the previous fiscal year.

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There are currently twenty-one analysts that cover BlackRock Inc stock. Of those twenty-one, thirteen have a Buy rating, eight have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $368.76.

A recent analyst activity consisted of Barclays reiterating their Equal-weight stance on October 8. Barclays decreased price target from $337 to $329. This corresponds to a 6.53% downside from the last closing price. On the date of report, the stock closed at $318.57.

Jefferies reiterated their Hold stance on October 7, and decreased their price target from $370 to $354. This corresponds to a 0.58% upside from the last closing price. On the date of report, the stock closed at $320.64.

Another research firm was UBS who upgraded their Neutral rating to Buy on October 2. UBS decreased price target from $370 to $350. This translates to a 0.56% downside from the last closing price. On the date of report, the stock closed at $303.36.

Company profile

BlackRock, Inc. provides diversified investment management services to institutional clients and to retail investors through various investment vehicles. The Company offers the BlackRock Funds and Blackrock Liquidity Funds, and also provides risk management services to fixed income institutional investors.

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