KKR & Co. L.P. (KKR) Upgraded by Zacks Investment Research to “Buy”
KKR & Co. L.P. (NYSE:KKR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $21.00 price objective on the asset manager’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 15.64% from the company’s current price.
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. “
A number of other equities research analysts have also recently issued reports on KKR. Morgan Stanley boosted their target price on shares of 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. Jefferies Group LLC reissued a “buy” rating on shares of KKR & Co. L.P. in a research report on Friday, June 30th. BidaskClub raised shares of KKR & Co. L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $23.00 target price on shares of KKR & Co. L.P. in a research report on Tuesday, May 30th. Finally, Oppenheimer Holdings, Inc. boosted their target price on shares of 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $21.30.
KKR & Co. L.P. (KKR) traded down 0.55% during trading on Thursday, reaching $18.16. 2,797,670 shares of the company traded hands. KKR & Co. L.P. has a 12 month low of $13.57 and a 12 month high of $20.34. The company’s 50-day moving average is $18.83 and its 200 day moving average is $18.46. The company has a market cap of $8.53 billion, a PE ratio of 7.41 and a beta of 1.53.
KKR & Co. L.P. (NYSE:KKR) last released its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.26. KKR & Co. L.P. had a net margin of 42.48% and a return on equity of 11.45%. The firm had revenue of $365.16 million during the quarter, compared to analysts’ expectations of $300.74 million. During the same period in the previous year, the business posted $0.19 earnings per share. On average, analysts anticipate that KKR & Co. L.P. will post $2.62 earnings per share for the current year.
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In related news, Director Robert W. Scully purchased 55,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average price of $18.21 per share, with a total value of $1,001,550.00. Following the completion of the purchase, the director now directly owns 49,495 shares in the company, valued at $901,303.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Hedge funds have recently bought and sold shares of the stock. Morgan Stanley raised its stake in KKR & Co. L.P. by 246.8% during the first quarter. Morgan Stanley now owns 55,751,843 shares of the asset manager’s stock worth $1,016,356,000 after acquiring an additional 39,675,214 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in KKR & Co. L.P. by 3.6% during the second quarter. Oppenheimer & Co. Inc. now owns 372,312 shares of the asset manager’s stock worth $6,925,000 after acquiring an additional 12,887 shares in the last quarter. Benchmark Capital Advisors raised its stake in KKR & Co. L.P. by 4.3% during the first quarter. Benchmark Capital Advisors now owns 164,290 shares of the asset manager’s stock worth $2,995,000 after acquiring an additional 6,698 shares in the last quarter. Bollard Group LLC acquired a new position in KKR & Co. L.P. during the second quarter worth about $4,892,000. Finally, PNC Financial Services Group Inc. raised its stake in KKR & Co. L.P. by 3.9% during the first quarter. PNC Financial Services Group Inc. now owns 174,957 shares of the asset manager’s stock worth $3,189,000 after acquiring an additional 6,551 shares in the last quarter. 66.61% of the stock is owned by institutional investors and hedge funds.
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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