KKR & Co. L.P. (KKR) Receives Consensus Recommendation of “Buy” from Analysts
KKR & Co. L.P. (NYSE:KKR) has earned a consensus recommendation of “Buy” from the fourteen brokerages that are currently covering the stock. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $18.31.
Several equities research analysts recently issued reports on the stock. Deutsche Bank AG reaffirmed a “hold” rating on shares of KKR & Co. L.P. in a research note on Sunday, July 10th. Barclays PLC cut their target price on shares of KKR & Co. L.P. from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, July 7th. Vetr lowered shares of KKR & Co. L.P. from a “buy” rating to a “hold” rating and set a $13.02 target price for the company. in a research report on Monday, July 18th. Jefferies Group boosted their target price on shares of KKR & Co. L.P. from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $20.00 target price (down previously from $21.00) on shares of KKR & Co. L.P. in a research report on Monday, July 11th.
Shares of KKR & Co. L.P. (NYSE:KKR) traded down 1.47% during trading on Wednesday, reaching $14.03. The company’s stock had a trading volume of 870,455 shares. KKR & Co. L.P. has a 1-year low of $10.89 and a 1-year high of $19.20. The stock’s market capitalization is $6.24 billion. The company’s 50-day moving average price is $14.53 and its 200 day moving average price is $13.82.
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KKR & Co. L.P. (NYSE:KKR) last released its quarterly earnings data 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 period in the previous year, the firm posted $0.88 EPS. The firm’s revenue for the quarter was up 125.4% on a year-over-year basis. Analysts anticipate that KKR & Co. L.P. will post $0.50 EPS for the current year.
In related news, Director Robert W. Scully sold 168,400 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $14.22, for a total value of $2,394,648.00. Following the sale, the director now owns 43,276 shares of the company’s stock, valued at $615,384.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
A number of hedge funds have recently bought and sold shares of KKR. Wellington Management Group LLP boosted its stake in KKR & Co. L.P. by 38.9% in the first quarter. Wellington Management Group LLP now owns 9,344,724 shares of the company’s stock worth $137,274,000 after buying an additional 2,618,430 shares during the last quarter. Artemis Investment Management LLP boosted its stake in KKR & Co. L.P. by 138.5% in the second quarter. Artemis Investment Management LLP now owns 7,196,826 shares of the company’s stock worth $88,844,000 after buying an additional 4,179,496 shares during the last quarter. NewSquare Capital LLC boosted its stake in KKR & Co. L.P. by 18.7% in the second quarter. NewSquare Capital LLC now owns 53,340 shares of the company’s stock worth $658,000 after buying an additional 8,394 shares during the last quarter. Carroll Financial Associates Inc. boosted its stake in KKR & Co. L.P. by 58.3% in the second quarter. Carroll Financial Associates Inc. now owns 16,293 shares of the company’s stock worth $201,000 after buying an additional 6,003 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in KKR & Co. L.P. by 22.1% in the first quarter. Renaissance Technologies LLC now owns 1,270,550 shares of the company’s stock worth $18,664,000 after buying an additional 229,613 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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