KKR & Co. L.P. (NYSE:KKR) Stock Rating Upgraded by Goldman Sachs Group, Inc. (The)

KKR & Co. L.P. (NYSE:KKR) was upgraded by equities research analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, October 16th, Marketbeat Ratings reports.

KKR has been the topic of a number of other reports. ValuEngine lowered shares of KKR & Co. L.P. from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 8th. Oppenheimer Holdings, Inc. lifted their price objective on shares of KKR & Co. L.P. from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, July 14th. BidaskClub lowered shares of KKR & Co. L.P. from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Zacks Investment Research lowered shares of KKR & Co. L.P. from a “buy” rating to a “sell” rating in a research note on Wednesday, October 11th. Finally, Morgan Stanley lifted their price objective on shares of KKR & Co. L.P. from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Two analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $21.80.

KKR & Co. L.P. (NYSE KKR) opened at 20.35 on Monday. The stock has a market capitalization of $9.56 billion, a P/E ratio of 8.72 and a beta of 1.53. KKR & Co. L.P. has a 52-week low of $13.58 and a 52-week high of $20.77. The company’s 50-day moving average price is $19.71 and its 200 day moving average price is $18.88.

KKR & Co. L.P. (NYSE:KKR) last announced its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The company had revenue of $356.00 million during the quarter, compared to analysts’ expectations of $314.80 million. KKR & Co. L.P. had a net margin of 35.65% and a return on equity of 9.61%. KKR & Co. L.P.’s revenue was up 29.0% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share. On average, equities research analysts predict that KKR & Co. L.P. will post $2.53 earnings per share for the current fiscal year.

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In related news, Director Robert W. Scully bought 55,000 shares of the stock in a transaction on Thursday, August 17th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $901,303.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC lifted its holdings 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 in the last quarter. Investment Centers of America Inc. purchased a new stake in shares of KKR & Co. L.P. in the first quarter valued at about $184,000. Laurel Wealth Advisors Inc. lifted its holdings in shares of KKR & Co. L.P. by 0.6% in the second quarter. Laurel Wealth Advisors Inc. now owns 10,917 shares of the asset manager’s stock valued at $203,000 after purchasing an additional 67 shares in the last quarter. Synovus Financial Corp purchased a new stake in shares of KKR & Co. L.P. in the second quarter valued at about $205,000. Finally, FineMark National Bank & Trust lifted its holdings in shares of KKR & Co. L.P. by 8.8% in the second quarter. FineMark National Bank & Trust now owns 11,204 shares of the asset manager’s stock valued at $208,000 after purchasing an additional 904 shares in the last quarter. 65.57% of the stock is currently owned by institutional investors.

KKR & Co. L.P. Company Profile

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.

Analyst Recommendations for KKR & Co. L.P. (NYSE:KKR)

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