TPG (NASDAQ:TPG) Price Target Cut to $68.00 by Analysts at Citizens Jmp

Key Points

• Citizens JMP cut TPG’s price target from $75 to $68 while keeping a “market outperform” rating, implying about 59% upside from the prior close.
• TPG’s stock was up 2.6% in Thursday trading to $42.69, well below its 12-month high of $70.38 and near its 50-day average of $42.06.
• The broader analyst view remains constructive: TPG has a consensus “Moderate Buy” rating, with 12 Buy ratings, four Holds, and one Sell, and a consensus price target of $61.31.

TPG (NASDAQ:TPG - Get Free Report) had its target price decreased by stock analysts at Citizens Jmp from $75.00 to $68.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. Citizens Jmp's price target points to a potential upside of 59.28% from the company's previous close.

A number of other brokerages have also commented on TPG. Evercore set a $47.00 price target on TPG in a research note on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft set a $55.00 price objective on shares of TPG in a report on Monday, May 4th. TD Cowen dropped their target price on shares of TPG from $48.00 to $45.00 and set a "hold" rating for the company in a research report on Monday, May 18th. Barclays lifted their target price on shares of TPG from $56.00 to $58.00 and gave the company an "overweight" rating in a research note on Monday, May 4th. Finally, Citigroup reiterated an "outperform" rating on shares of TPG in a research report on Thursday. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.31.

TPG Trading Up 2.6%

NASDAQ:TPG traded up $1.08 during mid-day trading on Thursday, reaching $42.69. 102,029 shares of the company's stock traded hands, compared to its average volume of 3,117,993. TPG has a 12-month low of $36.95 and a 12-month high of $70.38. The firm has a market capitalization of $16.41 billion, a price-to-earnings ratio of 194.56, a PEG ratio of 0.76 and a beta of 1.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.33 and a quick ratio of 0.33. The company has a 50 day moving average price of $42.06 and a 200-day moving average price of $47.77.

TPG (NASDAQ:TPG - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.09. TPG had a return on equity of 28.13% and a net margin of 3.81%.The business had revenue of $557.18 million during the quarter, compared to analysts' expectations of $608.07 million. During the same quarter last year, the business posted $0.48 EPS. The business's revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts predict that TPG will post 2.86 earnings per share for the current year.

Institutional Investors Weigh In On TPG

A number of institutional investors have recently made changes to their positions in the company. CX Institutional increased its position in shares of TPG by 481.4% during 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. International Assets Investment Management LLC bought a new position in TPG in the 4th quarter valued at approximately $38,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in TPG by 268.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company's stock valued at $38,000 after acquiring an additional 524 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in TPG by 2,496.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 675 shares of the company's stock valued at $43,000 after purchasing an additional 649 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in TPG by 252.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 790 shares of the company's stock valued at $45,000 after purchasing an additional 566 shares during the last quarter. Hedge funds and other institutional investors own 94.03% of the company's stock.

About TPG

TPG Inc NASDAQ: TPG is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.

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