TD Cowen Issues Pessimistic Forecast for TPG (NASDAQ:TPG) Stock Price

TPG (NASDAQ:TPG) had its target price reduced by analysts at TD Cowen from $64.00 to $60.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective suggests a potential upside of 39.89% from the company’s previous close.

Several other research analysts also recently commented on the company. Wells Fargo & Company initiated coverage on TPG in a report on Friday, October 2nd. They set an “equal weight” rating and a $47.00 target price on the stock. 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. Royal Bank Of Canada boosted their price target on shares of TPG from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Barclays lowered their price target on TPG from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. Finally, Wall Street Zen raised shares of TPG from a “sell” rating to a “hold” rating in a research report on Sunday, July 26th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.07.

TPG Price Performance

NASDAQ:TPG opened at $42.89 on Monday. The stock’s 50 day moving average price is $48.73 and its two-hundred day moving average price is $44.45. TPG has a 12-month low of $36.95 and a 12-month high of $70.38. The firm has a market capitalization of $16.48 billion, a price-to-earnings ratio of 64.99, a P/E/G ratio of 0.80 and a beta of 1.49. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.63.

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

Institutional Investors Weigh In On TPG

A number of large investors have recently modified their holdings of the stock. QRG Capital Management Inc. grew its position in shares of TPG by 3.0% in the 2nd quarter. QRG Capital Management Inc. now owns 8,145 shares of the company’s stock worth $330,000 after acquiring an additional 237 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of TPG by 15.5% in the first quarter. Parallel Advisors LLC now owns 2,089 shares of the company’s stock valued at $85,000 after purchasing an additional 281 shares during the period. Public Employees Retirement System of Ohio raised its stake in TPG by 1.0% during the 1st quarter. Public Employees Retirement System of Ohio now owns 40,859 shares of the company’s stock valued at $1,655,000 after acquiring an additional 404 shares in the last quarter. CX Institutional boosted its holdings in shares of TPG by 481.4% in the second quarter. CX Institutional now owns 657 shares of the company’s stock valued at $27,000 after acquiring an additional 544 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in TPG by 11.9% in the first quarter. NewEdge Advisors LLC now owns 5,201 shares of the company’s stock worth $211,000 after acquiring an additional 555 shares in the last quarter. Institutional investors own 94.03% of the company’s stock.

TPG Company Profile

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.