TD Cowen Boosts TPG (NASDAQ:TPG) Price Target to $60.00

TPG (NASDAQ:TPG) had its target price upped by TD Cowen from $58.00 to $60.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price would indicate a potential upside of 9.75% from the stock’s previous close.

A number of other equities research analysts have also issued reports on TPG. BNP Paribas Exane raised shares of TPG from a “neutral” rating to an “outperform” rating and set a $69.00 price objective for the company in a report on Wednesday, July 30th. Citigroup dropped their target price on shares of TPG from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 13th. BNP Paribas upgraded shares of TPG to a “strong-buy” rating in a report on Wednesday, July 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of TPG in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised shares of TPG from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $65.00 to $78.00 in a report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, TPG has a consensus rating of “Moderate Buy” and a consensus target price of $66.79.

TPG Stock Up 2.6%

TPG opened at $54.67 on Wednesday. The stock has a market cap of $20.66 billion, a price-to-earnings ratio of 607.44, a price-to-earnings-growth ratio of 0.98 and a beta of 1.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.40 and a current ratio of 0.35. The firm’s fifty day moving average is $58.23 and its 200 day moving average is $54.91. TPG has a fifty-two week low of $37.52 and a fifty-two week high of $72.98.

TPG (NASDAQ:TPG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). TPG had a net margin of 2.83% and a return on equity of 25.79%. The business had revenue of $596.50 million during the quarter, compared to analysts’ expectations of $510.32 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. TPG’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts forecast that TPG will post 2.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TPG

Several large investors have recently added to or reduced their stakes in the stock. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of TPG during the 1st quarter worth approximately $237,000. Cresset Asset Management LLC bought a new stake in shares of TPG during the first quarter worth $216,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of TPG by 28.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,201,727 shares of the company’s stock valued at $104,428,000 after purchasing an additional 481,418 shares during the period. Partners Group Holding AG grew its holdings in shares of TPG by 53.2% in the first quarter. Partners Group Holding AG now owns 528,824 shares of the company’s stock worth $25,082,000 after purchasing an additional 183,570 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in shares of TPG in the first quarter worth about $603,000. 94.03% of the stock is owned by institutional investors.

TPG Company Profile

TPG Inc operates as an alternative asset manager in the United States and internationally. The company offers investment management services to TPG Funds, limited partners, and other vehicles. It also offers monitoring services to portfolio companies; advisory, debt and equity arrangement, and underwriting and placement services; and capital structuring and other advisory services to portfolio companies.