Zacks Investment Research Downgrades KKR & Co. L.P. (KKR) to Sell

KKR & Co. L.P. (NYSE:KKR) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued to investors on Wednesday.

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 research analysts have also recently commented on the stock. Morgan Stanley restated an “equal weight” rating and issued a $19.00 price target (up from $18.00) on shares of KKR & Co. L.P. in a report on Monday, July 10th. Oppenheimer Holdings, Inc. upped their price target on shares of KKR & Co. L.P. from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. ValuEngine cut 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 restated a “buy” rating on shares of KKR & Co. L.P. in a report on Friday, June 30th. Finally, BidaskClub upgraded shares of KKR & Co. L.P. from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $21.40.

Shares of KKR & Co. L.P. (NYSE KKR) opened at 20.25 on Wednesday. KKR & Co. L.P. has a 52-week low of $13.58 and a 52-week high of $20.64. The stock has a 50 day moving average of $19.23 and a 200 day moving average of $18.70. The stock has a market capitalization of $9.52 billion, a PE ratio of 8.67 and a beta of 1.53.

KKR & Co. L.P. (NYSE:KKR) last posted its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.26. The firm had revenue of $365.16 million for the quarter, compared to analysts’ expectations of $300.74 million. KKR & Co. L.P. had a net margin of 42.48% and a return on equity of 11.45%. During the same period in the prior year, the business posted $0.19 earnings per share. Analysts forecast that KKR & Co. L.P. will post $2.58 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Zacks Investment Research Downgrades KKR & Co. L.P. (KKR) to Sell” was posted by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright laws. The original version of this report can be viewed at https://sportsperspectives.com/2017/10/11/zacks-investment-research-downgrades-kkr-co-l-p-kkr-to-sell.html.

In other KKR & Co. L.P. news, Director Robert W. Scully acquired 55,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average cost of $18.21 per share, with a total value of $1,001,550.00. Following the completion of the purchase, the director now directly owns 49,495 shares in the company, valued at $901,303.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in shares of KKR & Co. L.P. by 464.6% during the second quarter. JPMorgan Chase & Co. now owns 5,128,910 shares of the asset manager’s stock valued at $95,399,000 after buying an additional 4,220,481 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of KKR & Co. L.P. by 3.6% during the second quarter. Oppenheimer & Co. Inc. now owns 372,312 shares of the asset manager’s stock valued at $6,925,000 after buying an additional 12,887 shares during the last quarter. Hosking Partners LLP lifted its position in shares of KKR & Co. L.P. by 1.7% during the second quarter. Hosking Partners LLP now owns 880,088 shares of the asset manager’s stock valued at $16,370,000 after buying an additional 14,319 shares during the last quarter. Quinn Opportunity Partners LLC lifted its position in shares of KKR & Co. L.P. by 23.1% during the second quarter. Quinn Opportunity Partners LLC now owns 269,592 shares of the asset manager’s stock valued at $5,014,000 after buying an additional 50,570 shares during the last quarter. Finally, Concourse Capital Management LLC lifted its position in shares of KKR & Co. L.P. by 7.9% during the second quarter. Concourse Capital Management LLC now owns 402,559 shares of the asset manager’s stock valued at $7,488,000 after buying an additional 29,420 shares during the last quarter. 65.21% of the stock is owned by institutional investors.

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.

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

Receive News & Ratings for KKR & Co. L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KKR & Co. L.P. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply