KKR & Co. L.P. (NYSE:KKR) PT Raised to $20.00 at Morgan Stanley
KKR & Co. L.P. (NYSE:KKR) had its price target lifted by Morgan Stanley from $19.00 to $20.00 in a note issued to investors on Tuesday, August 8th. The firm currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price would suggest a potential upside of 10.25% from the company’s previous close.
A number of other research analysts have also issued reports on KKR. Zacks Investment Research lowered KKR & Co. L.P. from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. BidaskClub upgraded KKR & Co. L.P. from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating on shares of KKR & Co. L.P. in a report on Friday, June 30th. Oppenheimer Holdings, Inc. raised their price objective on KKR & Co. L.P. from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, July 14th. Finally, Deutsche Bank AG raised their price objective on KKR & Co. L.P. from $18.00 to $20.00 and gave the company a “hold” rating in a report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $21.40.
KKR & Co. L.P. (NYSE KKR) traded up 0.61% during trading on Tuesday, hitting $18.14. 3,506,598 shares of the stock traded hands. The stock has a 50 day moving average price of $19.00 and a 200-day moving average price of $18.40. The stock has a market cap of $8.53 billion, a P/E ratio of 7.77 and a beta of 1.53. KKR & Co. L.P. has a 52-week low of $13.58 and a 52-week high of $20.34.
KKR & Co. L.P. (NYSE:KKR) last announced its earnings results on Thursday, July 27th. The asset manager reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.26. KKR & Co. L.P. had a return on equity of 11.45% and a net margin of 42.48%. The firm had revenue of $365.16 million for the quarter, compared to analyst estimates of $300.74 million. During the same quarter last year, the firm posted $0.19 EPS. On average, analysts anticipate that KKR & Co. L.P. will post $2.58 EPS for the current fiscal year.
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In other news, Director Robert W. Scully bought 55,000 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was bought at an average cost of $18.21 per share, with a total value of $1,001,550.00. Following the transaction, the director now directly owns 49,495 shares in the company, valued at approximately $901,303.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
A number of institutional investors have recently added to or reduced their stakes in KKR. WFG Advisors LP increased its position in KKR & Co. L.P. by 24.9% in the second quarter. WFG Advisors LP now owns 169,373 shares of the asset manager’s stock valued at $3,150,000 after buying an additional 33,774 shares in the last quarter. Advisory Services Network LLC increased its position in KKR & Co. L.P. by 1.8% in the second quarter. Advisory Services Network LLC now owns 6,405 shares of the asset manager’s stock valued at $119,000 after buying an additional 115 shares in the last quarter. National Asset Management Inc. increased its position in KKR & Co. L.P. by 8.2% in the second quarter. National Asset Management Inc. now owns 28,344 shares of the asset manager’s stock valued at $528,000 after buying an additional 2,149 shares in the last quarter. Linscomb & Williams Inc. increased its position in KKR & Co. L.P. by 0.3% in the second quarter. Linscomb & Williams Inc. now owns 16,177 shares of the asset manager’s stock valued at $301,000 after buying an additional 53 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of KKR & Co. L.P. by 2.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 65,189 shares of the asset manager’s stock valued at $1,213,000 after buying an additional 1,632 shares during the last quarter. 76.59% of the stock is owned by institutional investors.
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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