KKR & Co. L.P. (KKR) Stock Rating Upgraded by Zacks Investment Research
KKR & Co. L.P. (NYSE:KKR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $16.00 price objective on the stock. Zacks Investment Research’s target price would indicate a potential upside of 13.88% from the stock’s previous close.
According to Zacks, “Kohlberg Kravis Roberts & Co. provides a range of asset management services to its investors and provides capital markets services to its firm, its portfolio companies and its clients. The Company operates private equity funds that take either controlling or strategic minority ownership positions for long-term appreciation; invests in leveraged loans, high-yield bonds and less liquid credit products; and, on behalf of portfolio companies, arranges equity and debt financing and offers capital market advice. Kohlberg Kravis Roberts & Co. is based at New York, New York. “
KKR has been the topic of a number of other research reports. Vetr downgraded KKR & Co. L.P. from a “strong-buy” rating to a “buy” rating and set a $14.18 target price on the stock. in a research report on Monday, June 13th. Barclays PLC lifted their price objective on KKR & Co. L.P. from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, July 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $20.00 price objective (down from $21.00) on shares of KKR & Co. L.P. in a research note on Monday, July 11th. Credit Suisse Group AG assumed coverage on KKR & Co. L.P. in a research note on Thursday, July 7th. They issued an “outperform” rating and a $16.00 price objective for the company. Finally, Wells Fargo & Co. reaffirmed a “buy” rating and issued a $16.00 price objective on shares of KKR & Co. L.P. in a research note on Thursday, July 14th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $17.88.
Shares of KKR & Co. L.P. (NYSE:KKR) opened at 14.05 on Wednesday. KKR & Co. L.P. has a 1-year low of $10.89 and a 1-year high of $19.20. The company’s market capitalization is $6.25 billion. The firm’s 50 day moving average price is $14.67 and its 200-day moving average price is $13.84.
KKR & Co. L.P. (NYSE:KKR) last posted its earnings results on Tuesday, July 26th. The company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.18. The business earned $576.76 million during the quarter, compared to analysts’ expectations of $271.50 million. During the same quarter in the prior year, the firm earned $0.88 EPS. KKR & Co. L.P.’s revenue for the quarter was up 125.4% compared to the same quarter last year. Analysts expect that KKR & Co. L.P. will post $0.48 EPS for the current year.
In other news, Director Robert W. Scully sold 168,400 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $14.22, for a total transaction of $2,394,648.00. Following the completion of the transaction, the director now directly owns 43,276 shares of the company’s stock, valued at approximately $615,384.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FCG Advisors LLC acquired a new position in KKR & Co. L.P. during the second quarter valued at about $136,000. Laurel Wealth Advisors Inc. increased its stake in KKR & Co. L.P. by 27.0% in the second quarter. Laurel Wealth Advisors Inc. now owns 13,615 shares of the company’s stock valued at $168,000 after buying an additional 2,895 shares during the last quarter. BOKF NA increased its stake in KKR & Co. L.P. by 16.3% in the second quarter. BOKF NA now owns 13,724 shares of the company’s stock valued at $169,000 after buying an additional 1,925 shares during the last quarter. Feltz Wealth PLAN Inc. purchased a new stake in KKR & Co. L.P. during the second quarter valued at $174,000. Finally, Palo Capital Inc. purchased a new stake in KKR & Co. L.P. during the second quarter valued at $176,000.
KKR & Co. L.P. Company Profile
KKR & CO. L.P. (KKR) is a global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds. The Company’s business offers a range of investment management services to its fund investors, and provides capital markets services to its firm, its portfolio companies and third parties.
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