Evercore ISI Increases TPG (NASDAQ:TPG) Price Target to $62.00

TPG (NASDAQ:TPG) had its target price boosted by equities researchers at Evercore ISI from $55.00 to $62.00 in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price objective indicates a potential downside of 3.33% from the stock’s current price.

A number of other equities analysts have also commented on TPG. UBS Group increased their price target on shares of TPG from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. JPMorgan Chase & Co. reduced their target price on TPG from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Bank of America lifted their price target on TPG from $65.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Morgan Stanley upped their price objective on TPG from $58.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of TPG in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.75.

TPG Price Performance

Shares of TPG stock traded up $0.59 on Thursday, reaching $64.14. The company’s stock had a trading volume of 205,520 shares, compared to its average volume of 1,729,401. The company has a market capitalization of $24.25 billion, a P/E ratio of 712.64, a PEG ratio of 0.96 and a beta of 1.51. TPG has a 12-month low of $37.52 and a 12-month high of $70.38. The stock’s 50 day simple moving average is $63.00 and its 200-day simple moving average is $59.94. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47.

TPG (NASDAQ:TPG) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The business had revenue of $509.40 million during the quarter, compared to analysts’ expectations of $510.32 million. TPG had a net margin of 2.83% and a return on equity of 25.79%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 EPS. As a group, equities analysts predict that TPG will post 2.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TPG

Several hedge funds and other institutional investors have recently modified their holdings of TPG. Vanguard Group Inc. grew its stake in shares of TPG by 0.5% in the third quarter. Vanguard Group Inc. now owns 12,386,633 shares of the company’s stock worth $711,612,000 after purchasing an additional 56,490 shares during the last quarter. Capital International Investors grew its position in shares of TPG by 3.5% in the 3rd quarter. Capital International Investors now owns 11,682,464 shares of the company’s stock worth $671,158,000 after buying an additional 392,336 shares during the last quarter. Darlington Partners Capital Management LP purchased a new position in shares of TPG during the second quarter valued at approximately $258,581,000. Bank of America Corp DE increased its stake in shares of TPG by 72.7% during the third quarter. Bank of America Corp DE now owns 3,567,626 shares of the company’s stock valued at $204,960,000 after buying an additional 1,501,808 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of TPG by 30.8% during the second quarter. Geode Capital Management LLC now owns 3,529,402 shares of the company’s stock valued at $185,136,000 after acquiring an additional 831,865 shares in the last quarter. 94.03% of the stock is owned by institutional investors.

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.