TPG (NASDAQ:TPG) Upgraded to Strong-Buy at Zacks Research

Key Points

• TPG has been upgraded from a "hold" rating to a "strong-buy" rating by Zacks Research, indicating confidence in the company’s potential for growth.
• The stock has attracted multiple upgrades from various analysts, with the highest target price set at $69.00 by BNP Paribas Exane.
• TPG reported an earnings per share (EPS) of $0.69 for the last quarter, surpassing analysts' expectations and reflecting an 8.9% year-over-year revenue increase.

TPG (NASDAQ:TPG - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Several other analysts have also weighed in on the stock. BNP Paribas Exane upgraded shares of TPG from a "neutral" rating to an "outperform" rating and set a $69.00 target price for the company in a research note on Wednesday, July 30th. Evercore ISI boosted their target price on shares of TPG from $52.00 to $60.00 and gave the company an "in-line" rating in a research note on Friday, August 8th. Wells Fargo & Company boosted their price target on shares of TPG from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, July 11th. JPMorgan Chase & Co. boosted their price target on shares of TPG from $56.00 to $65.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, BNP Paribas raised shares of TPG to a "strong-buy" rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $62.57.

TPG Stock Performance

Shares of TPG stock opened at $59.60 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.40. TPG has a 1 year low of $37.52 and a 1 year high of $72.98. The firm's 50-day simple moving average is $58.37 and its 200-day simple moving average is $52.00. The firm has a market cap of $22.52 billion, a PE ratio of -312.74, a price-to-earnings-growth ratio of 1.24 and a beta of 1.56.

TPG (NASDAQ:TPG - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.24. The company had revenue of $495.12 million for the quarter, compared to the consensus estimate of $470.57 million. TPG had a return on equity of 25.79% and a net margin of 1.60%.TPG's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 EPS. Equities analysts forecast that TPG will post 2.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TPG news, Director Deborah M. Messemer sold 1,796 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total value of $101,150.72. Following the completion of the sale, the director directly owned 16,807 shares of the company's stock, valued at approximately $946,570.24. This represents a 9.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 76.48% of the company's stock.

Institutional Trading of TPG

A number of hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its stake in TPG by 12.1% during the second quarter. Osaic Holdings Inc. now owns 2,173 shares of the company's stock valued at $114,000 after buying an additional 234 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in shares of TPG by 76.0% in the 2nd quarter. Neuberger Berman Group LLC now owns 577,459 shares of the company's stock valued at $30,288,000 after purchasing an additional 249,347 shares during the period. Westwood Holdings Group Inc. acquired a new position in shares of TPG in the 2nd quarter valued at about $1,550,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of TPG by 10.2% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 106,959 shares of the company's stock valued at $5,618,000 after purchasing an additional 9,867 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of TPG by 800.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,123 shares of the company's stock valued at $216,000 after purchasing an additional 3,665 shares during the period. 94.03% of the stock is owned by hedge funds and other institutional investors.

TPG Company Profile

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.

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