KKR & Co. L.P.’s (KKR) “Buy” Rating Reiterated at Jefferies Group
KKR & Co. L.P. (NYSE:KKR)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Group in a research report issued to clients and investors on Wednesday.
KKR has been the topic of several other reports. Zacks Investment Research lowered shares of KKR & Co. L.P. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 29th. Barclays PLC lifted their price target on shares of 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 reiterated a “hold” rating and issued a $20.00 price target (down from $21.00) on shares of KKR & Co. L.P. in a research note on Monday, July 11th. Vetr lowered shares of KKR & Co. L.P. from a “strong-buy” rating to a “buy” rating and set a $13.45 price target on the stock. in a research note on Thursday, July 7th. Finally, Credit Suisse Group AG assumed coverage on shares of KKR & Co. L.P. in a research note on Thursday, July 7th. They set an “outperform” rating and a $16.00 price objective on the stock. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $17.88.
Shares of KKR & Co. L.P. (NYSE:KKR) traded down 1.69% on Wednesday, reaching $14.00. 4,329,058 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $14.52 and its 200 day moving average price is $13.82. The company’s market cap is $6.23 billion. KKR & Co. L.P. has a 12 month low of $10.89 and a 12 month high of $19.20.
KKR & Co. L.P. (NYSE:KKR) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.18. The business earned $576.76 million during the quarter, compared to analyst estimates of $271.50 million. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The firm’s quarterly revenue was up 125.4% on a year-over-year basis. Equities research analysts predict that KKR & Co. L.P. will post $0.50 EPS for the current fiscal year.
In other news, Director Robert W. Scully sold 168,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $14.22, for a total transaction of $2,394,648.00. Following the completion of the sale, the director now owns 43,276 shares of the company’s stock, valued at approximately $615,384.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Several hedge funds have recently modified their holdings of KKR. FCG Advisors LLC bought a new position in shares of KKR & Co. L.P. during the second quarter valued at approximately $136,000. Laurel Wealth Advisors Inc. increased its position in shares of 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 position in shares of 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. Palo Capital Inc. bought a new position in shares of KKR & Co. L.P. during the second quarter valued at approximately $176,000. Finally, BlackRock Japan Co. Ltd increased its position in shares of KKR & Co. L.P. by 15.2% in the first quarter. BlackRock Japan Co. Ltd now owns 14,315 shares of the company’s stock valued at $210,000 after buying an additional 1,890 shares during the last quarter.
About KKR & Co. L.P.
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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