KKR & Co. L.P. (KKR) Raised to “Strong-Buy” at ValuEngine
ValuEngine upgraded shares of KKR & Co. L.P. (NYSE:KKR) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research upgraded KKR & Co. L.P. from a hold rating to a strong-buy rating and set a $21.00 price objective for the company in a research report on Thursday, June 8th. Jefferies Group LLC restated a buy rating on shares of KKR & Co. L.P. in a research report on Friday, June 30th. Morgan Stanley reaffirmed an equal weight rating and set a $19.00 price target (up from $18.00) on shares of KKR & Co. L.P. in a research note on Monday, July 10th. BidaskClub raised shares of KKR & Co. L.P. from a sell rating to a hold rating in a research note on Thursday, July 13th. Finally, Oppenheimer Holdings Inc. upped their price target on shares of KKR & Co. L.P. from $26.00 to $27.00 and gave the stock an outperform rating in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. KKR & Co. L.P. presently has a consensus rating of Buy and an average target price of $21.30.
KKR & Co. L.P. (NYSE KKR) opened at 20.28 on Friday. The company’s 50 day moving average is $18.93 and its 200 day moving average is $18.62. KKR & Co. L.P. has a 52-week low of $13.58 and a 52-week high of $20.43. The firm has a market cap of $9.53 billion, a P/E ratio of 8.69 and a beta of 1.53.
KKR & Co. L.P. (NYSE:KKR) last posted its quarterly earnings results 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 return on equity of 11.45% and a net margin of 42.48%. The firm had revenue of $365.16 million for the quarter, compared to the consensus estimate of $300.74 million. During the same period in the previous year, the business earned $0.19 earnings per share. Equities research analysts forecast that KKR & Co. L.P. will post $2.65 EPS for the current fiscal year.
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In other KKR & Co. L.P. news, Director Robert W. Scully bought 55,000 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was bought at an average price of $18.21 per share, for a total transaction of $1,001,550.00. Following the completion of the transaction, the director now owns 49,495 shares in the company, valued at approximately $901,303.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC grew its position in shares of 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 valued at $119,000 after purchasing an additional 115 shares during the last quarter. Investment Centers of America Inc. purchased a new stake in KKR & Co. L.P. in the 1st quarter valued at approximately $184,000. Fairview Capital Investment Management LLC purchased a new stake in KKR & Co. L.P. in the 1st quarter valued at approximately $198,000. Royal Bank of Scotland Group PLC acquired a new stake in KKR & Co. L.P. during the 1st quarter valued at $200,000. Finally, Laurel Wealth Advisors Inc. grew its holdings 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 valued at $203,000 after buying an additional 67 shares during the last quarter. 65.19% 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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