Wall Street Zen Upgrades TPG (NASDAQ:TPG) to “Hold”

TPG (NASDAQ:TPG) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group restated a “buy” rating and issued a $61.00 price objective on shares of TPG in a report on Tuesday, May 5th. Weiss Ratings downgraded shares of TPG from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Barclays raised their price objective on shares of TPG from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. TD Cowen cut their price objective on TPG from $48.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. Finally, Evercore set a $47.00 target price on TPG in a report on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.75.

TPG Price Performance

Shares of NASDAQ:TPG opened at $41.43 on Friday. The stock’s 50-day moving average is $42.13 and its 200 day moving average is $48.39. The company has a market cap of $15.92 billion, a PE ratio of 188.33, a P/E/G ratio of 0.75 and a beta of 1.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.33 and a quick ratio of 0.33. TPG has a 1 year low of $36.95 and a 1 year high of $70.38.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The firm had revenue of $557.18 million for the quarter, compared to analyst estimates of $608.07 million. TPG had a return on equity of 28.13% and a net margin of 3.81%.The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. Sell-side analysts anticipate that TPG will post 2.86 EPS for the current year.

Hedge Funds Weigh In On TPG

Several large investors have recently made changes to their positions in the business. Darlington Partners Capital Management LP bought a new stake in shares of TPG in the 2nd quarter worth approximately $258,581,000. Millennium Management LLC increased its position in TPG by 66.9% during the 4th quarter. Millennium Management LLC now owns 4,584,733 shares of the company’s stock valued at $292,689,000 after buying an additional 1,837,799 shares in the last quarter. Norges Bank bought a new position in TPG during the 4th quarter valued at approximately $106,755,000. Bank of America Corp DE raised its stake in TPG by 72.7% during the third quarter. Bank of America Corp DE now owns 3,567,626 shares of the company’s stock valued at $204,960,000 after buying an additional 1,501,808 shares during the last quarter. Finally, Temasek Holdings Private Ltd raised its stake in TPG by 14.1% during the first quarter. Temasek Holdings Private Ltd now owns 10,028,107 shares of the company’s stock valued at $406,239,000 after buying an additional 1,236,526 shares during the last quarter. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

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.