TPG (NASDAQ:TPG) Price Target Cut to $60.00 by Analysts at TD Cowen

Key Points

• TD Cowen lowered its price target for TPG from $64 to $60 while maintaining a “buy” rating, implying approximately 33.44% upside from the stock’s $44.97 price.
• Analyst sentiment remains favorable: TPG has a consensus “Moderate Buy” rating from 16 analysts, with an average price target of $61.33.
• TPG recently exceeded quarterly expectations, reporting $0.69 earnings per share versus the $0.59 consensus and $628.19 million in revenue, up 23.9% year over year.

TPG (NASDAQ:TPG - Get Free Report) had its price target lowered by research analysts at TD Cowen from $64.00 to $60.00 in a report released on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's price objective would suggest a potential upside of 33.44% from the stock's current price.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods raised their price target on TPG from $53.00 to $57.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $62.00 target price on shares of TPG in a report on Wednesday, August 5th. Evercore set a $50.00 target price on shares of TPG in a research report on Wednesday, August 5th. Weiss Ratings lowered shares of TPG from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday. Finally, Wells Fargo & Company initiated coverage on shares of TPG in a research report on Friday, October 2nd. They issued an "equal weight" rating and a $47.00 price target for the company. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $61.33.

TPG Trading Down 0.7%

NASDAQ:TPG traded down $0.29 during midday trading on Monday, hitting $44.97. The stock had a trading volume of 403,672 shares, compared to its average volume of 2,963,099. The stock has a 50-day moving average of $48.87 and a 200 day moving average of $44.40. The company has a market capitalization of $17.28 billion, a price-to-earnings ratio of 68.19, a PEG ratio of 0.80 and a beta of 1.49. TPG has a one year low of $36.95 and a one year high of $70.38. 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 - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.69 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $596.79 million. During the same period in the previous year, the company posted $0.69 EPS. TPG's revenue was up 23.9% on a year-over-year basis. As a group, sell-side analysts forecast that TPG will post 2.83 EPS for the current year.

Hedge Funds Weigh In On TPG

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPG. Wellington Management Group LLP boosted its stake in TPG by 38.1% in the second quarter. Wellington Management Group LLP now owns 11,019,487 shares of the company's stock valued at $446,840,000 after acquiring an additional 3,041,560 shares in the last quarter. Jackson Brooke LLC purchased a new position in TPG in the second quarter worth $92,395,080. Junto Capital Management LP acquired a new position in shares of TPG during the second quarter worth $82,794,000. Millennium Management LLC increased its position in shares of TPG by 66.9% during the fourth quarter. Millennium Management LLC now owns 4,584,733 shares of the company's stock worth $292,689,000 after purchasing an additional 1,837,799 shares in the last quarter. Finally, Temasek Holdings Private Ltd lifted its holdings in shares of TPG by 14.1% during the 1st quarter. Temasek Holdings Private Ltd now owns 10,028,107 shares of the company's stock valued at $406,239,000 after purchasing an additional 1,236,526 shares during the last quarter. Hedge funds and other 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.

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