KKR & Co. L.P. (KKR) Receives Consensus Recommendation of “Hold” from Analysts
Shares of KKR & Co. L.P. (NYSE:KKR) have been given an average rating of “Hold” by the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $21.88.
A number of equities research analysts have recently weighed in on KKR shares. Keefe, Bruyette & Woods restated a “buy” rating and issued a $27.00 price objective on shares of KKR & Co. L.P. in a report on Thursday. Morgan Stanley raised their price objective on shares of KKR & Co. L.P. from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th. Zacks Investment Research lowered shares of KKR & Co. L.P. from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. ValuEngine upgraded shares of KKR & Co. L.P. from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 30th. Finally, Jefferies Group LLC restated a “buy” rating on shares of KKR & Co. L.P. in a report on Friday, June 30th.
Shares of KKR & Co. L.P. (NYSE:KKR) traded down 1.04% during trading on Thursday, hitting $20.03. The stock had a trading volume of 1,296,010 shares. The stock has a market cap of $9.41 billion, a P/E ratio of 8.58 and a beta of 1.53. KKR & Co. L.P. has a one year low of $13.57 and a one year high of $20.64. The stock’s 50 day moving average price is $19.27 and its 200-day moving average price is $18.71.
KKR & Co. L.P. (NYSE:KKR) last announced its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.89 earnings per share for the quarter, beating 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 business had revenue of $365.16 million for the quarter, compared to analyst estimates of $300.74 million. During the same period last year, the business earned $0.19 EPS. Analysts expect that KKR & Co. L.P. will post $2.53 earnings per share for the current fiscal year.
In related news, Director Robert W. Scully purchased 55,000 shares of the business’s stock in a transaction that occurred on 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 purchase, the director now directly owns 49,495 shares of the company’s stock, valued at $901,303.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of large investors have recently made changes to their positions in KKR. Advisory Services Network LLC raised its stake in KKR & Co. L.P. by 1.8% during the 2nd quarter. Advisory Services Network LLC now owns 6,405 shares of the asset manager’s stock worth $119,000 after acquiring an additional 115 shares in the last quarter. Investment Centers of America Inc. acquired a new stake in KKR & Co. L.P. during the 1st quarter worth $184,000. Laurel Wealth Advisors Inc. raised its stake in KKR & Co. L.P. by 0.6% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 10,917 shares of the asset manager’s stock worth $203,000 after acquiring an additional 67 shares in the last quarter. Synovus Financial Corp acquired a new stake in KKR & Co. L.P. during the 2nd quarter worth $205,000. Finally, FineMark National Bank & Trust raised its stake in KKR & Co. L.P. by 8.8% during the 2nd quarter. FineMark National Bank & Trust now owns 11,204 shares of the asset manager’s stock worth $208,000 after acquiring an additional 904 shares in the last quarter. Hedge funds and other institutional investors own 65.21% of the company’s stock.
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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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