KKR & Co. L.P. (KKR) Downgraded by ValuEngine
KKR & Co. L.P. (NYSE:KKR) was downgraded by ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.
A number of other research firms also recently issued reports on KKR. Zacks Investment Research downgraded KKR & Co. L.P. from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Morgan Stanley lifted their price objective on KKR & Co. L.P. from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 8th. Oppenheimer Holdings, Inc. lifted their price objective on KKR & Co. L.P. from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, July 14th. BidaskClub raised KKR & Co. L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $23.00 price objective on shares of KKR & Co. L.P. in a research report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. KKR & Co. L.P. has an average rating of “Buy” and an average price target of $21.30.
KKR & Co. L.P. (NYSE KKR) traded down 0.55% during midday trading on Friday, reaching $18.16. 2,797,670 shares of the company’s stock traded hands. KKR & Co. L.P. has a one year low of $13.57 and a one year high of $20.34. The stock has a market cap of $8.53 billion, a PE ratio of 7.78 and a beta of 1.53. The stock’s 50 day moving average price is $18.83 and its 200-day moving average price is $18.46.
KKR & Co. L.P. (NYSE:KKR) last released its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.26. The business had revenue of $365.16 million during the quarter, compared to the consensus estimate of $300.74 million. KKR & Co. L.P. had a return on equity of 11.45% and a net margin of 42.48%. During the same period in the previous year, the company posted $0.19 EPS. Equities analysts predict that KKR & Co. L.P. will post $2.62 earnings per share for the current year.
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In other KKR & Co. L.P. news, Director Robert W. Scully purchased 55,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $18.21 per share, with a total value of $1,001,550.00. Following the acquisition, the director now owns 49,495 shares in the company, valued at $901,303.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley lifted its holdings in KKR & Co. L.P. by 246.8% in the 1st quarter. Morgan Stanley now owns 55,751,843 shares of the asset manager’s stock worth $1,016,356,000 after purchasing an additional 39,675,214 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in KKR & Co. L.P. by 3.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 372,312 shares of the asset manager’s stock worth $6,925,000 after purchasing an additional 12,887 shares in the last quarter. Benchmark Capital Advisors lifted its holdings in KKR & Co. L.P. by 4.3% in the 1st quarter. Benchmark Capital Advisors now owns 164,290 shares of the asset manager’s stock worth $2,995,000 after purchasing an additional 6,698 shares in the last quarter. Bollard Group LLC purchased a new position in KKR & Co. L.P. in the 2nd quarter worth approximately $4,892,000. Finally, PNC Financial Services Group Inc. lifted its holdings in KKR & Co. L.P. by 3.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 174,957 shares of the asset manager’s stock worth $3,189,000 after purchasing an additional 6,551 shares in the last quarter. 66.61% of the stock is currently owned by institutional investors.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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