TPG (NASDAQ:TPG) Stock Price Target Cut by TD Cowen

TPG (NASDAQ:TPG) had its price objective lowered by TD Cowen from $64.00 to $60.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 33.44% from the company’s previous close.

TPG has been the topic of several other research reports. UBS Group boosted their target price on shares of TPG from $59.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings cut shares of TPG from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $62.00 price objective on shares of TPG in a research note on Wednesday, August 5th. BMO Capital Markets dropped their price objective on shares of TPG from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Finally, Citizens Jmp cut their target price on TPG from $75.00 to $68.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $61.33.

TPG Stock Down 0.7%

Shares of TPG stock traded down $0.29 during trading hours on Monday, reaching $44.97. 403,672 shares of the company’s stock were exchanged, compared to its average volume of 2,963,099. TPG has a 1 year low of $36.95 and a 1 year high of $70.38. The stock has a market cap of $17.28 billion, a PE ratio of 68.19, a PEG ratio of 0.80 and a beta of 1.49. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average price is $48.87 and its two-hundred day moving average price is $44.40.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.10. The firm had revenue of $628.19 million for the quarter, compared to the consensus estimate of $596.79 million. TPG had a net margin of 4.67% and a return on equity of 28.10%. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. Research analysts predict that TPG will post 2.83 EPS for the current year.

Hedge Funds Weigh In On TPG

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stableford Capital II LLC purchased a new position in TPG during the 3rd quarter worth approximately $1,288,000. QRG Capital Management Inc. lifted its stake in TPG by 3.0% during the 2nd quarter. QRG Capital Management Inc. now owns 8,145 shares of the company’s stock valued at $330,000 after acquiring an additional 237 shares during the period. Junto Capital Management LP acquired a new stake in TPG during the 2nd quarter valued at approximately $82,794,000. Engineers Gate Manager LP boosted its holdings in shares of TPG by 147.4% in the 2nd quarter. Engineers Gate Manager LP now owns 342,327 shares of the company’s stock valued at $13,881,000 after acquiring an additional 203,956 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of TPG by 189.0% in the 2nd quarter. NewEdge Advisors LLC now owns 15,031 shares of the company’s stock valued at $610,000 after acquiring an additional 9,830 shares during the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

About TPG

TPG Inc is a global alternative asset management firm that invests across private equity, growth equity, impact investing, real estate, and credit strategies. The company manages capital on behalf of institutional investors, sovereign wealth funds, family offices, and other clients, with investments spanning a range of industries and stages of business development.

TPG operates through investment platforms that include TPG Capital, TPG Growth, TPG Rise, TPG Real Estate, and TPG Angelo Gordon.