Wells Fargo & Company Forecasts Strong Price Appreciation for TPG (NASDAQ:TPG) Stock

TPG (NASDAQ:TPG) had its price objective increased by research analysts at Wells Fargo & Company from $68.00 to $83.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 24.10% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Morgan Stanley increased their price target on TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. The Goldman Sachs Group raised their price objective on TPG from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Evercore ISI raised their price objective on TPG from $46.00 to $60.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. TD Cowen decreased their price objective on TPG from $62.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Finally, BMO Capital Markets raised their price objective on TPG from $45.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $60.08.

TPG Trading Down 2.2 %

NASDAQ:TPG opened at $66.88 on Thursday. 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 has a 1-year low of $38.20 and a 1-year high of $72.98. The firm has a market capitalization of $24.41 billion, a price-to-earnings ratio of -196.70, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46. The stock has a fifty day simple moving average of $66.58 and a 200 day simple moving average of $54.16.

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

Institutional Investors Weigh In On TPG

Hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of TPG during the 2nd quarter worth about $25,000. Signaturefd LLC raised its stake in shares of TPG by 21.3% in the 3rd 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 raised its stake in shares of TPG by 1,128.3% in the 3rd quarter. Covestor Ltd now owns 1,867 shares of the company’s stock valued at $107,000 after acquiring an additional 1,715 shares in the last quarter. KBC Group NV raised its stake in shares of TPG by 25.1% in the 3rd quarter. KBC Group NV now owns 2,405 shares of the company’s stock valued at $138,000 after acquiring an additional 482 shares in the last quarter. Finally, Quarry LP raised its stake in shares of TPG by 136.2% in the 3rd quarter. Quarry LP now owns 3,201 shares of the company’s stock valued at $184,000 after acquiring an additional 1,846 shares in the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.

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.