Credit Suisse Group Cuts TPG (NASDAQ:TPG) Price Target to $32.50

TPG (NASDAQ:TPG – Get Rating) had its target price cut by analysts at Credit Suisse Group from $33.00 to $32.50 in a research note issued on Friday, The Fly reports. Credit Suisse Group’s price objective suggests a potential upside of 21.54% from the company’s current price.

Several other research analysts also recently issued reports on the company. Wells Fargo & Company lifted their price target on TPG from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 16th. JPMorgan Chase & Co. cut TPG from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $35.00 to $34.00 in a research report on Tuesday, January 24th. Keefe, Bruyette & Woods lifted their price objective on TPG from $37.00 to $38.00 and gave the stock a “market perform” rating in a research report on Thursday, February 16th. Evercore ISI dropped their price objective on TPG from $34.00 to $33.00 in a research report on Tuesday, May 16th. Finally, Bank of America dropped their price objective on TPG from $34.00 to $28.00 in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.32.

TPG Price Performance

TPG stock opened at $26.74 on Friday. The company has a market cap of $8.27 billion, a P/E ratio of -83.56, a price-to-earnings-growth ratio of 1.25 and a beta of 1.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.33 and a current ratio of 0.28. TPG has a one year low of $23.09 and a one year high of $44.43. The business has a fifty day moving average of $28.22 and a two-hundred day moving average of $31.04.

TPG (NASDAQ:TPG – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.06. The firm had revenue of $350.18 million for the quarter, compared to analyst estimates of $303.48 million. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. As a group, analysts predict that TPG will post 1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TPG

Hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. acquired a new position in shares of TPG in the 1st quarter valued at about $33,000. Hexagon Capital Partners LLC acquired a new position in shares of TPG in the 1st quarter valued at about $39,000. Advanced Research Investment Solutions LLC acquired a new position in shares of TPG in the 3rd quarter valued at about $56,000. BNP Paribas Arbitrage SNC acquired a new position in shares of TPG in the 3rd quarter valued at about $61,000. Finally, Deutsche Bank AG acquired a new position in TPG during the 4th quarter worth approximately $64,000. 12.94% of the stock is owned by institutional investors and hedge funds.

TPG Company Profile

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TPG Inc operates as an alternative asset manager worldwide. It offers investment management services to unconsolidated funds, collateralized loan obligations, and other vehicles; monitoring services to portfolio companies; advisory services, debt and equity arrangements, and underwriting and placement services; and capital structuring and other advisory services to portfolio companies.