JPMorgan Chase & Co. Cuts TPG (NASDAQ:TPG) Price Target to $76.00

TPG (NASDAQ:TPG) had its price target cut by investment analysts at JPMorgan Chase & Co. from $78.00 to $76.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 41.70% from the stock’s current price.

Several other analysts have also issued reports on the stock. Evercore ISI upped their price target on shares of TPG from $52.00 to $60.00 and gave the company an “in-line” rating in a research report on Friday, August 8th. TD Cowen upped their price target on shares of TPG from $58.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday. Zacks Research lowered shares of TPG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Weiss Ratings restated a “hold (c-)” rating on shares of TPG in a research report on Wednesday, October 8th. Finally, BNP Paribas Exane upgraded shares of TPG from a “neutral” rating to an “outperform” rating and set a $69.00 price target for the company in a research report on Wednesday, July 30th. Two 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 stock. According to MarketBeat.com, TPG presently has an average rating of “Moderate Buy” and an average target price of $66.79.

TPG Price Performance

NASDAQ:TPG traded up $0.22 during midday trading on Wednesday, hitting $53.63. The company had a trading volume of 1,443,358 shares, compared to its average volume of 1,696,223. TPG has a 52-week low of $37.52 and a 52-week high of $72.98. The stock’s fifty day moving average price is $58.51 and its 200-day moving average price is $54.93. The company has a market capitalization of $20.27 billion, a PE ratio of -283.26, a P/E/G ratio of 1.00 and a beta of 1.52. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.45.

TPG (NASDAQ:TPG) last announced its earnings results on Tuesday, November 4th. The company reported $0.53 earnings per share (EPS) 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 1.60%.The company had revenue of $596.50 million during the quarter, compared to analysts’ expectations of $510.32 million. During the same quarter last year, the firm posted $0.45 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. As a group, research analysts expect that TPG will post 2.52 earnings per share for the current year.

Hedge Funds Weigh In On TPG

A number of institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in shares of TPG by 69.1% during the first quarter. Wellington Management Group LLP now owns 10,693,179 shares of the company’s stock valued at $507,177,000 after buying an additional 4,369,618 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of TPG by 12.5% during the first quarter. Vanguard Group Inc. now owns 9,303,272 shares of the company’s stock valued at $441,254,000 after buying an additional 1,037,225 shares during the last quarter. Temasek Holdings Private Ltd grew its holdings in shares of TPG by 114.2% during the first quarter. Temasek Holdings Private Ltd now owns 8,529,631 shares of the company’s stock valued at $404,560,000 after buying an additional 4,548,452 shares during the last quarter. Darlington Partners Capital Management LP purchased a new stake in shares of TPG during the second quarter valued at approximately $258,581,000. Finally, Geode Capital Management LLC grew its holdings in shares of TPG by 30.8% during the second quarter. Geode Capital Management LLC now owns 3,529,402 shares of the company’s stock valued at $185,136,000 after buying an additional 831,865 shares during the last quarter. 94.03% of the stock is owned by institutional investors.

About TPG

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.