Barclays Initiates Coverage on TPG (NASDAQ:TPG)

Analysts at Barclays initiated coverage on shares of TPG (NASDAQ:TPG) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $78.00 price target on the stock. Barclays‘s target price indicates a potential upside of 32.52% from the company’s current price.

A number of other research analysts have also issued reports on the company. Evercore ISI increased their target price on TPG from $55.00 to $62.00 and gave the company an “in-line” rating in a research report on Thursday, January 22nd. JPMorgan Chase & Co. reduced their price objective on shares of TPG from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Wolfe Research reiterated an “outperform” rating and issued a $80.00 target price on shares of TPG in a research report on Wednesday, January 7th. Citigroup reduced their price target on shares of TPG from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Finally, UBS Group raised their price target on shares of TPG from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, TPG has an average rating of “Moderate Buy” and an average target price of $70.69.

TPG Trading Down 0.9%

TPG stock opened at $58.86 on Wednesday. TPG has a 52-week low of $37.52 and a 52-week high of $70.38. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The firm has a market cap of $22.25 billion, a P/E ratio of 654.00, a PEG ratio of 0.90 and a beta of 1.51. The company’s 50-day simple moving average is $63.55 and its 200-day simple moving average is $60.16.

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 analysts’ consensus estimates of $0.55 by ($0.02). TPG had a return on equity of 25.79% and a net margin of 2.83%.The business had revenue of $509.40 million during the quarter, compared to analyst estimates of $510.32 million. During the same period in the previous year, the company posted $0.45 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities analysts forecast that TPG will post 2.52 EPS for the current fiscal year.

Institutional Investors Weigh In On TPG

Large investors have recently made changes to their positions in the stock. CWM LLC increased its holdings in shares of TPG by 19.5% in the third quarter. CWM LLC now owns 1,227 shares of the company’s stock valued at $70,000 after purchasing an additional 200 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of TPG by 12.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,173 shares of the company’s stock worth $114,000 after acquiring an additional 234 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of TPG by 3.1% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,828 shares of the company’s stock worth $411,000 after acquiring an additional 238 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of TPG by 3.1% during the 2nd quarter. Lazard Asset Management LLC now owns 7,828 shares of the company’s stock worth $410,000 after acquiring an additional 238 shares during the period. Finally, QRG Capital Management Inc. boosted its position in shares of TPG by 3.0% during the 2nd quarter. QRG Capital Management Inc. now owns 8,251 shares of the company’s stock valued at $433,000 after acquiring an additional 241 shares during the last quarter. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

TPG Company Profile

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.