KKR & Co. L.P. (NYSE:KKR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $22.00 target price on the asset manager’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.17% 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 analysts have also issued reports on KKR. Citigroup Inc. lowered shares of KKR & Co. L.P. from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $20.50 to $19.00 in a research report on Monday, April 17th. Deutsche Bank AG increased their price target on shares of KKR & Co. L.P. from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Jefferies Group LLC reissued a “buy” rating and issued a $22.00 price target (up from $21.00) on shares of KKR & Co. L.P. in a research report on Saturday, April 29th. JMP Securities reissued an “outperform” rating and issued a $25.00 price target on shares of KKR & Co. L.P. in a research report on Monday, May 1st. Finally, TheStreet raised shares of KKR & Co. L.P. from a “c” rating to a “b” rating in a research report on Thursday, April 27th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $20.62.
KKR & Co. L.P. (KKR) opened at 19.44 on Tuesday. KKR & Co. L.P. has a 12 month low of $12.56 and a 12 month high of $20.34. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of 11.03 and a beta of 1.53. The company’s 50-day moving average is $18.57 and its 200 day moving average is $17.86.
KKR & Co. L.P. (NYSE:KKR) last announced its earnings results on Thursday, April 27th. The asset manager reported $0.65 EPS for the quarter, topping the consensus estimate of $0.51 by $0.14. KKR & Co. L.P. had a net margin of 35.94% and a return on equity of 10.52%. The company had revenue of $715.90 million during the quarter, compared to analysts’ expectations of $297.88 million. During the same period last year, the company posted ($0.65) earnings per share. The business’s revenue for the quarter was up 339.7% on a year-over-year basis. On average, equities research analysts predict that KKR & Co. L.P. will post $2.34 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd increased its position in shares of KKR & Co. L.P. by 108.0% in the fourth quarter. Quadrature Capital Ltd now owns 111,408 shares of the asset manager’s stock valued at $1,713,000 after buying an additional 57,837 shares during the period. Brookfield Asset Management Inc. increased its position in shares of KKR & Co. L.P. by 14.6% in the fourth quarter. Brookfield Asset Management Inc. now owns 6,495,561 shares of the asset manager’s stock valued at $99,967,000 after buying an additional 827,385 shares during the period. SOL Capital Management CO increased its position in shares of KKR & Co. L.P. by 2.0% in the first quarter. SOL Capital Management CO now owns 157,855 shares of the asset manager’s stock valued at $2,878,000 after buying an additional 3,030 shares during the period. E&G Advisors LP bought a new position in shares of KKR & Co. L.P. during the first quarter valued at approximately $240,000. Finally, Bank of Montreal Can increased its position in shares of KKR & Co. L.P. by 13.8% in the first quarter. Bank of Montreal Can now owns 7,706,695 shares of the asset manager’s stock valued at $140,492,000 after buying an additional 933,031 shares during the period. Institutional investors own 75.55% of the company’s stock.
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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