Barclays Lowers TPG (NASDAQ:TPG) Price Target to $56.00

TPG (NASDAQ:TPG) had its price target cut by investment analysts at Barclays from $69.00 to $56.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 26.24% from the company’s previous close.

Several other research firms also recently issued reports on TPG. Citigroup raised TPG to an “outperform” rating in a report on Monday, February 9th. JPMorgan Chase & Co. dropped their target price on TPG from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of TPG in a report on Monday, December 29th. Citizens Jmp upgraded TPG from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Monday, February 9th. Finally, Morgan Stanley set a $67.00 target price on shares of TPG in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, TPG presently has an average rating of “Moderate Buy” and an average price target of $66.80.

TPG Stock Up 0.3%

Shares of NASDAQ TPG opened at $44.36 on Monday. TPG has a 12-month low of $37.52 and a 12-month high of $70.38. The firm’s 50-day simple moving average is $57.53 and its 200 day simple moving average is $58.67. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The company has a market cap of $17.04 billion, a price-to-earnings ratio of 100.82, a price-to-earnings-growth ratio of 0.62 and a beta of 1.55.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.20. TPG had a net margin of 3.95% and a return on equity of 26.02%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $548.40 million. During the same quarter last year, the company posted $0.62 EPS. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. On average, research analysts expect that TPG will post 2.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TPG

Hedge funds and other institutional investors have recently made changes to their positions in the company. Darlington Partners Capital Management LP bought a new stake in shares of TPG in the 2nd quarter valued at $258,581,000. Millennium Management LLC grew its stake in TPG by 66.9% in the fourth quarter. Millennium Management LLC now owns 4,584,733 shares of the company’s stock valued at $292,689,000 after acquiring an additional 1,837,799 shares during the period. Norges Bank bought a new stake in shares of TPG in the fourth quarter worth about $106,755,000. Bank of America Corp DE raised its position in shares of TPG by 72.7% during the third quarter. Bank of America Corp DE now owns 3,567,626 shares of the company’s stock worth $204,960,000 after purchasing an additional 1,501,808 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in shares of TPG during the 2nd quarter valued at about $54,088,000. 94.03% of the stock is owned by institutional investors.

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.