Truist Financial Has Lowered Expectations for FS KKR Capital (NYSE:FSK) Stock Price

FS KKR Capital (NYSE:FSK) had its price target reduced by stock analysts at Truist Financial from $17.00 to $11.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential upside of 0.36% from the company’s previous close.

FSK has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of FS KKR Capital in a report on Thursday, January 22nd. Royal Bank Of Canada reduced their price target on FS KKR Capital from $17.00 to $15.00 and set a “sector perform” rating for the company in a report on Friday, February 27th. Zacks Research lowered FS KKR Capital from a “hold” rating to a “strong sell” rating in a report on Monday. Wall Street Zen cut FS KKR Capital from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Wells Fargo & Company reduced their target price on FS KKR Capital from $15.00 to $11.00 and set an “equal weight” rating for the company in a report on Friday, February 27th. Eight equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, FS KKR Capital has an average rating of “Reduce” and an average price target of $14.14.

FS KKR Capital Price Performance

FS KKR Capital stock traded up $0.01 during trading hours on Wednesday, reaching $10.96. 1,552,850 shares of the stock were exchanged, compared to its average volume of 3,417,943. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 1.31. FS KKR Capital has a 52-week low of $10.28 and a 52-week high of $22.95. The firm’s 50 day moving average is $13.76 and its 200 day moving average is $15.12.

FS KKR Capital (NYSE:FSK) last issued its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). FS KKR Capital had a net margin of 0.72% and a return on equity of 5.21%. The firm had revenue of $348.00 million during the quarter, compared to analysts’ expectations of $361.59 million. During the same period in the previous year, the firm earned $0.66 EPS. On average, equities analysts forecast that FS KKR Capital will post 2.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FS KKR Capital news, insider Daniel Pietrzak purchased 5,000 shares of the business’s stock in a transaction on Friday, February 27th. The stock was bought at an average cost of $11.25 per share, for a total transaction of $56,250.00. Following the acquisition, the insider owned 64,800 shares of the company’s stock, valued at approximately $729,000. The trade was a 8.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On FS KKR Capital

A number of large investors have recently modified their holdings of the company. Beacon Capital Management Inc. purchased a new stake in FS KKR Capital during the second quarter worth approximately $26,000. Atlantic Union Bankshares Corp acquired a new position in shares of FS KKR Capital during the 2nd quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in FS KKR Capital during the 4th quarter worth $26,000. Jessup Wealth Management Inc acquired a new stake in FS KKR Capital in the 4th quarter valued at $26,000. Finally, FNY Investment Advisers LLC acquired a new stake in FS KKR Capital in the 4th quarter valued at $28,000. 36.26% of the stock is currently owned by hedge funds and other institutional investors.

FS KKR Capital Company Profile

FS KKR Capital Corp (NYSE:FSK) is a closed-end, externally managed business development company that primarily invests in private middle-market U.S. companies. The firm seeks to generate current income and capital appreciation by structuring investments in floating-rate senior secured loans, unitranche financings, second lien debt and mezzanine instruments. As a business development company, FSK provides financing solutions designed to support growth initiatives, acquisitions, leveraged buyouts and recapitalizations for privately held enterprises.

Established in 2018 through a strategic partnership between FS Investment Corporation and KKR Credit Advisors, a division of global investment firm KKR & Co Inc, FSK combines the credit underwriting capabilities of KKR’s global platform with FS’s expertise in private credit markets.