TPG (NASDAQ:TPG) Cut to “Sell” at Wall Street Zen

TPG (NASDAQ:TPG) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other research firms also recently weighed in on TPG. BMO Capital Markets reduced their target price on shares of TPG from $60.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, March 24th. Citigroup raised shares of TPG to an “outperform” rating in a research report on Monday, February 9th. Weiss Ratings downgraded shares of TPG from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Evercore set a $47.00 target price on shares of TPG in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $61.00 target price on shares of TPG in a research report on Tuesday, May 5th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, TPG has a consensus rating of “Moderate Buy” and an average price target of $61.75.

TPG Stock Performance

Shares of TPG stock opened at $42.57 on Friday. The firm has a market cap of $16.36 billion, a price-to-earnings ratio of 193.51, a P/E/G ratio of 0.75 and a beta of 1.47. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.33 and a current ratio of 0.33. TPG has a 52 week low of $36.95 and a 52 week high of $70.38. The firm’s 50-day simple moving average is $41.73 and its two-hundred day simple moving average is $51.49.

TPG (NASDAQ:TPG) last released its earnings results on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. TPG had a net margin of 3.81% and a return on equity of 28.13%. The firm had revenue of $557.18 million during the quarter, compared to the consensus estimate of $608.07 million. During the same period in the prior year, the firm earned $0.48 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts forecast that TPG will post 2.86 earnings per share for the current year.

Hedge Funds Weigh In On TPG

Several large investors have recently modified their holdings of TPG. Darlington Partners Capital Management LP purchased a new position in shares of TPG in the second quarter worth about $258,581,000. Millennium Management LLC increased its stake in shares of TPG by 66.9% in the fourth quarter. Millennium Management LLC now owns 4,584,733 shares of the company’s stock worth $292,689,000 after purchasing an additional 1,837,799 shares in the last quarter. Norges Bank purchased a new position in shares of TPG in the fourth quarter worth about $106,755,000. Bank of America Corp DE increased its stake in shares of TPG by 72.7% in 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 in the last quarter. Finally, Temasek Holdings Private Ltd increased its stake in shares of TPG by 14.1% in the first quarter. Temasek Holdings Private Ltd now owns 10,028,107 shares of the company’s stock worth $406,239,000 after purchasing an additional 1,236,526 shares in the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

TPG Company Profile

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.