The Goldman Sachs Group Forecasts Strong Price Appreciation for TPG (NASDAQ:TPG) Stock

TPG (NASDAQ:TPG) had its price objective lifted by equities researchers at The Goldman Sachs Group from $67.00 to $77.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 13.75% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. boosted their target price on TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Evercore ISI upped their price objective on shares of TPG from $46.00 to $60.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Morgan Stanley raised their target price on shares of TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Wells Fargo & Company boosted their target price on shares of TPG from $67.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on TPG from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Seven investment 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 has an average rating of “Hold” and an average price target of $58.83.

TPG Stock Up 1.9 %

TPG stock traded up $1.26 during trading hours on Tuesday, hitting $67.69. The company’s stock had a trading volume of 414,405 shares, compared to its average volume of 877,738. The stock has a 50 day moving average price of $62.01 and a two-hundred day moving average price of $50.85. TPG has a 12 month low of $34.07 and a 12 month high of $70.67. The company has a market capitalization of $24.70 billion, a PE ratio of -199.08, a price-to-earnings-growth ratio of 1.08 and a beta of 1.49. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.39.

TPG (NASDAQ:TPG) last posted its earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. TPG had a net margin of 0.69% and a return on equity of 23.45%. The firm had revenue of $855.40 million for the quarter, compared to the consensus estimate of $449.98 million. During the same period in the prior year, the business posted $0.56 earnings per share. On average, equities research analysts expect that TPG will post 1.94 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in TPG by 21.6% during the first quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company’s stock worth $328,826,000 after buying an additional 1,305,799 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of TPG by 32.4% during the 2nd 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 boosted its position in shares of TPG by 14,739.3% during the 3rd quarter. Barclays PLC now owns 602,029 shares of the company’s stock valued at $34,652,000 after acquiring an additional 597,972 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in TPG by 902.4% in the second quarter. Thrivent Financial for Lutherans now owns 418,608 shares of the company’s stock valued at $17,352,000 after acquiring an additional 376,848 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in TPG by 5.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock worth $278,161,000 after purchasing an additional 366,306 shares in the last quarter. 86.79% of the stock is currently owned by institutional investors and hedge funds.

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.