TPG (NASDAQ:TPG) Given New $48.00 Price Target at BMO Capital Markets

TPG (NASDAQ:TPG) had its price objective lowered by BMO Capital Markets from $60.00 to $48.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 20.05% from the company’s current price.

Several other brokerages have also commented on TPG. Morgan Stanley set a $67.00 target price on shares of TPG in a research report on Tuesday, January 27th. The Goldman Sachs Group reiterated a “buy” rating and issued a $80.00 price objective on shares of TPG in a research note on Tuesday, January 6th. Weiss Ratings reissued a “hold (c)” rating on shares of TPG in a report on Monday, December 29th. Evercore set a $56.00 target price on shares of TPG in a research report on Friday, February 6th. Finally, UBS Group dropped their target price on shares of TPG from $83.00 to $60.00 and set a “buy” rating for the company in a report on Friday, February 20th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, TPG currently has an average rating of “Moderate Buy” and an average price target of $65.67.

TPG Stock Up 0.1%

TPG stock traded up $0.03 during trading on Tuesday, hitting $39.99. 1,888,704 shares of the company’s stock were exchanged, compared to its average volume of 3,848,509. The business has a 50-day moving average price of $50.73 and a two-hundred day moving average price of $56.82. The stock has a market capitalization of $15.36 billion, a price-to-earnings ratio of 90.87, a PEG ratio of 0.59 and a beta of 1.55. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. TPG has a 52-week low of $37.52 and a 52-week high of $70.38.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.20. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $548.40 million. TPG had a return on equity of 26.02% and a net margin of 3.95%.The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. As a group, equities research analysts expect that TPG will post 2.52 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Comerica Bank increased its stake in TPG by 43.1% during the first quarter. Comerica Bank now owns 1,545 shares of the company’s stock worth $73,000 after acquiring an additional 465 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of TPG by 86.3% during the 1st quarter. Royal Bank of Canada now owns 7,901 shares of the company’s stock valued at $375,000 after buying an additional 3,659 shares during the period. Goldman Sachs Group Inc. lifted its position in TPG by 4,109.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 571,004 shares of the company’s stock worth $27,083,000 after acquiring an additional 557,438 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in TPG by 156.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 483,680 shares of the company’s stock worth $22,941,000 after acquiring an additional 294,941 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in TPG by 24.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 8,936 shares of the company’s stock valued at $469,000 after buying an additional 1,762 shares during the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

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.