TPG (NASDAQ:TPG) Stock Price Expected to Rise, TD Cowen Analyst Says

TPG (NASDAQ:TPG) had its target price increased by equities researchers at TD Cowen from $60.00 to $63.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price indicates a potential downside of 6.35% from the company’s previous close.

Several other equities analysts also recently issued reports on TPG. UBS Group increased their price objective on shares of TPG from $82.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of TPG in a research report on Monday, December 29th. JPMorgan Chase & Co. lowered their price objective on TPG from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Citigroup cut their price objective on TPG from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Finally, Bank of America raised their target price on TPG from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.58.

TPG Stock Up 2.3%

Shares of TPG opened at $67.27 on Wednesday. The firm has a market cap of $25.43 billion, a P/E ratio of 747.44, a PEG ratio of 0.98 and a beta of 1.51. TPG has a 12 month low of $37.52 and a 12 month high of $70.38. The stock’s 50 day moving average is $62.30 and its two-hundred day moving average is $59.56. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47.

TPG (NASDAQ:TPG) last announced its earnings results on Tuesday, November 4th. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). TPG had a return on equity of 25.79% and a net margin of 2.83%.The business had revenue of $509.40 million for the quarter, compared to analyst estimates of $510.32 million. During the same period in the previous year, the company earned $0.45 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Analysts predict that TPG will post 2.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TPG

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in TPG during the fourth quarter worth $286,000. Wedmont Private Capital purchased a new position in shares of TPG during the 4th quarter worth $284,000. GAMMA Investing LLC raised its holdings in shares of TPG by 32.0% during the 4th quarter. GAMMA Investing LLC now owns 1,286 shares of the company’s stock worth $82,000 after acquiring an additional 312 shares during the period. Tudor Investment Corp ET AL acquired a new position in shares of TPG during the 3rd quarter valued at about $3,221,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of TPG in the third quarter valued at about $2,059,000. Institutional investors and hedge funds own 94.03% of the company’s stock.

About TPG

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.