Evercore ISI Forecasts Strong Price Appreciation for TPG (NASDAQ:TPG) Stock

TPG (NASDAQ:TPG) had its price target raised by equities researchers at Evercore ISI from $60.00 to $65.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s target price would suggest a potential downside of 3.03% from the stock’s current price.

Several other analysts have also weighed in on the company. BMO Capital Markets boosted their price objective on TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of TPG from $67.00 to $69.00 and gave the company a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group lifted their price objective on TPG from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. TD Cowen decreased their price objective on shares of TPG from $62.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Finally, Wells Fargo & Company lowered their price objective on TPG from $83.00 to $78.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $63.00.

TPG Price Performance

Shares of NASDAQ TPG opened at $67.03 on Friday. The firm has a market capitalization of $24.46 billion, a P/E ratio of -197.14, a PEG ratio of 0.80 and a beta of 1.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.25. TPG has a one year low of $38.50 and a one year high of $72.98. The company’s fifty day moving average is $66.58 and its two-hundred day moving average is $58.32.

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

Insider Activity

In other news, Director Deborah M. Messemer sold 1,695 shares of TPG stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $61.91, for a total transaction of $104,937.45. Following the completion of the sale, the director now directly owns 15,841 shares of the company’s stock, valued at approximately $980,716.31. The trade was a 9.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 76.48% of the company’s stock.

Hedge Funds Weigh In On TPG

Hedge funds and other institutional investors have recently modified their holdings of the stock. ORG Wealth Partners LLC bought a new position in shares of TPG in the fourth quarter worth about $33,000. Signaturefd LLC boosted its stake in TPG by 21.3% in the third quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock valued at $62,000 after acquiring an additional 188 shares in the last quarter. Covestor Ltd boosted its stake in TPG by 1,128.3% in the 3rd quarter. Covestor Ltd now owns 1,867 shares of the company’s stock worth $107,000 after purchasing an additional 1,715 shares in the last quarter. KBC Group NV raised its position in TPG by 25.1% during the 3rd quarter. KBC Group NV now owns 2,405 shares of the company’s stock worth $138,000 after buying an additional 482 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of TPG by 136.2% during the 3rd quarter. Quarry LP now owns 3,201 shares of the company’s stock valued at $184,000 after purchasing an additional 1,846 shares in the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

About TPG

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.