KKR & Co. L.P. (KKR) Upgraded to Buy 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 report issued on Thursday. The firm currently has a $21.00 price target on the asset manager’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 14.63% 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. “
Several other analysts have also recently commented on KKR. Morgan Stanley boosted their price target on shares of KKR & Co. L.P. from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 8th. BidaskClub cut shares of KKR & Co. L.P. from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Jefferies Group LLC reiterated a “buy” rating on shares of KKR & Co. L.P. in a research note on Friday, June 30th. Oppenheimer Holdings, Inc. boosted their price target on shares of KKR & Co. L.P. from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $23.00 price target on shares of KKR & Co. L.P. in a research note on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $21.30.
KKR & Co. L.P. (NYSE:KKR) opened at 18.32 on Thursday. The firm has a market capitalization of $8.61 billion, a PE ratio of 7.85 and a beta of 1.53. The firm has a 50-day moving average price of $18.89 and a 200 day moving average price of $18.46. KKR & Co. L.P. has a one year low of $13.57 and a one year high of $20.34. KKR & Co. L.P. also was the target of unusually large options trading activity on Tuesday. Investors bought 28,076 put options on the stock. This represents an increase of approximately 1,256% compared to the typical daily volume of 2,070 put options.
KKR & Co. L.P. (NYSE:KKR) last announced its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.89 EPS for the quarter, topping the consensus estimate of $0.63 by $0.26. The business had revenue of $365.16 million for the quarter, compared to analysts’ expectations of $300.74 million. KKR & Co. L.P. had a net margin of 93.21% and a return on equity of 27.19%. During the same quarter in the previous year, the company earned $0.19 EPS. Analysts anticipate that KKR & Co. L.P. will post $2.62 EPS for the current fiscal year.
In other KKR & Co. L.P. news, Director Robert W. Scully bought 55,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average cost of $18.21 per share, for a total transaction of $1,001,550.00. Following the transaction, the director now owns 49,495 shares of the company’s stock, valued at $901,303.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Harbour Capital Advisors LLC raised its position in shares of KKR & Co. L.P. by 1,760.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 4,185 shares of the asset manager’s stock valued at $225,000 after buying an additional 3,960 shares in the last quarter. Advisory Services Network LLC purchased a new stake in KKR & Co. L.P. in the 1st quarter worth about $115,000. Investment Centers of America Inc. purchased a new stake in KKR & Co. L.P. in the 1st quarter worth about $184,000. Fairview Capital Investment Management LLC purchased a new stake in KKR & Co. L.P. in the 1st quarter worth about $198,000. Finally, Laurel Wealth Advisors Inc. raised its position in KKR & Co. L.P. by 0.6% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 10,917 shares of the asset manager’s stock worth $203,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 66.61% of the company’s stock.
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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