Morgan Stanley Boosts KKR & Co. L.P. (KKR) Price Target to $21.00
KKR & Co. L.P. (NYSE:KKR) had its price objective hoisted by stock analysts at Morgan Stanley from $20.00 to $21.00 in a research note issued to investors on Thursday. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price target indicates a potential upside of 3.14% from the stock’s previous close.
Several other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of KKR & Co. L.P. from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Tuesday, July 18th. ValuEngine downgraded shares of KKR & Co. L.P. from a “strong-buy” rating to a “buy” rating in a report on Friday, September 8th. Jefferies Group LLC reissued a “buy” rating on shares of KKR & Co. L.P. in a report on Friday, June 30th. BidaskClub raised shares of KKR & Co. L.P. from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Oppenheimer Holdings, Inc. boosted their price target on shares of KKR & Co. L.P. from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. KKR & Co. L.P. has an average rating of “Buy” and an average price target of $21.40.
KKR & Co. L.P. (KKR) traded up 0.860% during mid-day trading on Thursday, hitting $20.535. 649,619 shares of the stock traded hands. The stock has a 50-day moving average of $18.98 and a 200 day moving average of $18.63. KKR & Co. L.P. has a 1-year low of $13.58 and a 1-year high of $20.64. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 8.794 and a beta of 1.53.
KKR & Co. L.P. (NYSE:KKR) last released its earnings results on Thursday, July 27th. The asset manager reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.26. KKR & Co. L.P. had a net margin of 42.48% and a return on equity of 11.45%. The firm had revenue of $365.16 million during the quarter, compared to analyst estimates of $300.74 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. On average, equities analysts expect that KKR & Co. L.P. will post $2.65 EPS for the current year.
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In related news, Director Robert W. Scully acquired 55,000 shares of KKR & Co. L.P. stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average price of $18.21 per share, with a total value of $1,001,550.00. Following the completion of the acquisition, the director now directly owns 49,495 shares of the company’s stock, valued at approximately $901,303.95. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
A number of hedge funds have recently bought and sold shares of the stock. Curbstone Financial Management Corp lifted its holdings in KKR & Co. L.P. by 98.4% in the third quarter. Curbstone Financial Management Corp now owns 95,250 shares of the asset manager’s stock worth $1,936,000 after purchasing an additional 47,250 shares during the period. Cacti Asset Management LLC lifted its holdings in KKR & Co. L.P. by 30.7% in the third quarter. Cacti Asset Management LLC now owns 183,000 shares of the asset manager’s stock worth $3,644,000 after purchasing an additional 43,000 shares during the period. WFG Advisors LP lifted its holdings in KKR & Co. L.P. by 24.9% in the second quarter. WFG Advisors LP now owns 169,373 shares of the asset manager’s stock worth $3,150,000 after purchasing an additional 33,774 shares during the period. Advisory Services Network LLC lifted its holdings 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. Finally, National Asset Management Inc. lifted its holdings in KKR & Co. L.P. by 8.2% in the second quarter. National Asset Management Inc. now owns 28,344 shares of the asset manager’s stock worth $528,000 after purchasing an additional 2,149 shares during the period. 65.19% of the stock is owned by institutional investors and hedge funds.
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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