TPG (NASDAQ:TPG) Stock Price Expected to Rise, Bank of America Analyst Says

TPG (NASDAQ:TPG) had its target price hoisted by stock analysts at Bank of America from $65.00 to $69.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 17.93% from the stock’s previous close.

Several other research firms also recently commented on TPG. The Goldman Sachs Group raised their price objective on TPG from $61.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Evercore ISI lifted their target price on TPG from $52.00 to $60.00 and gave the company an “in-line” rating in a research note on Friday, August 8th. Zacks Research raised TPG from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 8th. Wolfe Research initiated coverage on TPG in a research note on Friday, June 20th. They set an “outperform” rating and a $60.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on TPG from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Three equities 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.07.

TPG Stock Up 3.8%

NASDAQ TPG opened at $58.51 on Friday. The stock’s 50-day moving average price is $60.30 and its 200-day moving average price is $53.23. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.45. TPG has a 52 week low of $37.52 and a 52 week high of $72.98. The company has a market capitalization of $22.11 billion, a P/E ratio of -307.95, a price-to-earnings-growth ratio of 1.23 and a beta of 1.53.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.45 by $0.24. TPG had a return on equity of 25.79% and a net margin of 1.60%.The firm had revenue of $495.12 million for the quarter, compared to the consensus estimate of $470.57 million. During the same quarter last year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities research analysts predict that TPG will post 2.52 earnings per share for the current year.

Insiders Place Their Bets

In other TPG news, Director Deborah M. Messemer sold 1,796 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $56.32, for a total transaction of $101,150.72. Following the completion of the transaction, the director owned 16,807 shares in the company, valued at $946,570.24. This trade represents a 9.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 69.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TPG

Institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in TPG by 132.3% during the 1st quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $30,000 after buying an additional 369 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in TPG during the 2nd quarter valued at approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in TPG by 268.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company’s stock valued at $38,000 after buying an additional 524 shares in the last quarter. GAMMA Investing LLC grew its holdings in TPG by 55.7% during the 2nd quarter. GAMMA Investing LLC now owns 945 shares of the company’s stock valued at $50,000 after buying an additional 338 shares in the last quarter. Finally, MAI Capital Management boosted its holdings in shares of TPG by 572.3% in the 2nd quarter. MAI Capital Management now owns 1,190 shares of the company’s stock worth $62,000 after purchasing an additional 1,013 shares during the period. Hedge funds and other institutional investors own 94.03% of the company’s stock.

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.