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 to investors on Wednesday. The firm currently has a $16.00 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 13.88% from the company’s previous close.
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 weighed in on the company. Wells Fargo & Co. reaffirmed a “buy” rating and set a $16.00 price target on shares of KKR & Co. L.P. in a report on Thursday, July 14th. Vetr raised KKR & Co. L.P. from a “buy” rating to a “strong-buy” rating and set a $14.18 target price on the stock in a report on Monday, June 27th. Credit Suisse Group AG initiated coverage on KKR & Co. L.P. in a report on Thursday, July 7th. They set an “outperform” rating and a $16.00 target price on the stock. Barclays PLC set a $17.00 target price on KKR & Co. L.P. and gave the stock a “buy” rating in a report on Tuesday, August 9th. Finally, Jefferies Group boosted their target price on KKR & Co. L.P. from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $17.88.
KKR & Co. L.P. (NYSE:KKR) opened at 14.05 on Wednesday. The stock’s 50 day moving average price is $14.67 and its 200-day moving average price is $13.84. KKR & Co. L.P. has a 52 week low of $10.89 and a 52 week high of $19.20. The stock’s market capitalization is $6.25 billion.
KKR & Co. L.P. (NYSE:KKR) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.18. The business had revenue of $576.76 million for the quarter, compared to the consensus estimate of $271.50 million. The business’s quarterly revenue was up 125.4% on a year-over-year basis. During the same period last year, the firm posted $0.88 EPS. Equities research analysts expect that KKR & Co. L.P. will post $0.48 earnings per share for the current year.
In other KKR & Co. L.P. news, Director Robert W. Scully sold 168,400 shares of KKR & Co. L.P. stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $14.22, for a total transaction of $2,394,648.00. Following the transaction, the director now directly owns 43,276 shares in the company, valued at approximately $615,384.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Institutional investors have recently bought and sold shares of the stock. CIBC World Markets Inc. boosted its position in KKR & Co. L.P. by 4.2% in the first quarter. CIBC World Markets Inc. now owns 32,367 shares of the company’s stock valued at $475,000 after buying an additional 1,319 shares in the last quarter. Vivaldi Asset Management LLC bought a new position in KKR & Co. L.P. during the first quarter valued at approximately $275,000. Shanda Payment Holdings Ltd. boosted its position in KKR & Co. L.P. by 199.3% in the first quarter. Shanda Payment Holdings Ltd. now owns 2,279,437 shares of the company’s stock valued at $33,485,000 after buying an additional 1,517,958 shares in the last quarter. AR Asset Management Inc. bought a new position in KKR & Co. L.P. during the first quarter valued at approximately $264,000. Finally, Stratos Wealth Partners LTD. boosted its position in KKR & Co. L.P. by 8.2% in the first quarter. Stratos Wealth Partners LTD. now owns 25,636 shares of the company’s stock valued at $377,000 after buying an additional 1,933 shares in the last quarter.
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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