BMO Capital Markets Forecasts Strong Price Appreciation for TPG (NASDAQ:TPG) Stock

TPG (NASDAQ:TPG) had its price objective increased by equities researchers at BMO Capital Markets from $60.00 to $73.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 13.57% from the company’s current price.

A number of other equities analysts have also issued reports on TPG. Evercore ISI increased their price target on TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. Wells Fargo & Company upped their price objective on TPG from $68.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Morgan Stanley lifted their target price on TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. The Goldman Sachs Group upped their price target on shares of TPG from $67.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of TPG from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $61.17.

TPG Stock Performance

Shares of TPG traded up $1.03 during trading hours on Thursday, reaching $64.28. 480,286 shares of the company’s stock traded hands, compared to its average volume of 902,612. TPG has a twelve month low of $38.20 and a twelve month high of $72.98. The business’s fifty day simple moving average is $66.94 and its two-hundred day simple moving average is $54.73. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.25 and a quick ratio of 0.25. The firm has a market capitalization of $23.46 billion, a price-to-earnings ratio of -189.05, a P/E/G ratio of 1.11 and a beta of 1.46.

TPG (NASDAQ:TPG) last released its quarterly earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. The company had revenue of $855.40 million for the quarter, compared to the consensus estimate of $449.98 million. TPG had a net margin of 0.69% and a return on equity of 23.45%. During the same period in the previous year, the firm earned $0.56 EPS. Analysts predict that TPG will post 1.95 earnings per share for the current year.

Institutional Investors Weigh In On TPG

Hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC grew its position in TPG by 146.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company’s stock worth $96,166,000 after acquiring an additional 992,818 shares in the last quarter. Millennium Management LLC increased its position in TPG by 32.4% during the second quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock worth $156,188,000 after acquiring an additional 922,571 shares during the period. Barclays PLC increased its holdings in shares of TPG by 14,739.3% during the 3rd quarter. Barclays PLC now owns 602,029 shares of the company’s stock worth $34,652,000 after purchasing an additional 597,972 shares during the period. Thrivent Financial for Lutherans raised its position in shares of TPG by 902.4% during the second quarter. Thrivent Financial for Lutherans now owns 418,608 shares of the company’s stock valued at $17,352,000 after buying an additional 376,848 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of TPG by 5.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock valued at $278,161,000 after buying an additional 366,306 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.