KKR & Co. L.P. (KKR) PT Raised to $21.00
KKR & Co. L.P. (NYSE:KKR) had its price target hoisted by research analysts at Morgan Stanley from $20.00 to $21.00 in a report issued on Thursday. The firm currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price target would indicate a potential upside of 3.45% from the company’s current price.
Other equities analysts also recently issued research reports about the company. BidaskClub upgraded KKR & Co. L.P. from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Zacks Investment Research downgraded KKR & Co. L.P. from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. Oppenheimer Holdings, Inc. increased their price objective on KKR & Co. L.P. from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. Jefferies Group LLC restated a “buy” rating on shares of KKR & Co. L.P. in a report on Friday, June 30th. Finally, ValuEngine downgraded KKR & Co. L.P. from a “strong-buy” rating to a “buy” rating in a report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. KKR & Co. L.P. presently has an average rating of “Buy” and an average price target of $21.40.
Shares of KKR & Co. L.P. (KKR) opened at 20.30 on Thursday. KKR & Co. L.P. has a 12-month low of $13.58 and a 12-month high of $20.64. The stock has a market capitalization of $9.54 billion, a P/E ratio of 8.69 and a beta of 1.53. The company has a 50-day moving average of $19.11 and a 200-day moving average of $18.66.
KKR & Co. L.P. (NYSE:KKR) last issued its earnings results on Thursday, July 27th. The asset manager reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.26. KKR & Co. L.P. had a return on equity of 11.45% and a net margin of 42.48%. The company had revenue of $365.16 million for the quarter, compared to the consensus estimate of $300.74 million. During the same quarter in the prior year, the company earned $0.19 EPS. Equities analysts expect that KKR & Co. L.P. will post $2.61 earnings per share for the current fiscal year.
In other KKR & Co. L.P. news, Director Robert W. Scully acquired 55,000 shares of KKR & Co. L.P. stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $18.21 per share, with a total value of $1,001,550.00. Following the completion of the transaction, the director now owns 49,495 shares of the company’s stock, valued at $901,303.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC lifted its position in KKR & Co. L.P. by 1.8% in the second quarter. Advisory Services Network LLC now owns 6,405 shares of the asset manager’s stock worth $119,000 after purchasing an additional 115 shares during the period. Investment Centers of America Inc. bought a new position in KKR & Co. L.P. in the first quarter worth $184,000. Laurel Wealth Advisors Inc. lifted its position in KKR & Co. L.P. by 0.6% in the second 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. Synovus Financial Corp bought a new position in KKR & Co. L.P. in the second quarter worth $205,000. Finally, FineMark National Bank & Trust lifted its position in KKR & Co. L.P. by 8.8% in the second quarter. FineMark National Bank & Trust now owns 11,204 shares of the asset manager’s stock worth $208,000 after purchasing an additional 904 shares during the period. 65.19% of the stock is owned by hedge funds and other institutional investors.
KKR & Co. L.P. Company Profile
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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