KKR & Co. L.P. (NYSE:KKR) had its price objective upped by Bank of America from $25.00 to $28.00 in a report released on Tuesday. The brokerage currently has a “buy” rating on the asset manager’s stock. Bank of America’s price objective suggests a potential upside of 23.57% from the stock’s current price.
A number of other research analysts have also recently weighed in on KKR. ValuEngine cut shares of KKR & Co. L.P. from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 7th. Credit Suisse Group reissued an “outperform” rating and set a $31.00 price objective (up from $23.00) on shares of KKR & Co. L.P. in a research note on Wednesday, January 10th. They noted that the move was a valuation call. Deutsche Bank raised their target price on shares of KKR & Co. L.P. from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Sandler O’Neill set a $22.00 target price on shares of KKR & Co. L.P. and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, TheStreet upgraded shares of KKR & Co. L.P. from a “c+” rating to a “b-” rating in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $24.64.
Shares of KKR & Co. L.P. (NYSE KKR) traded down $0.03 on Tuesday, hitting $22.66. 560,256 shares of the stock were exchanged, compared to its average volume of 3,109,715. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.08 and a current ratio of 1.08. KKR & Co. L.P. has a fifty-two week low of $16.77 and a fifty-two week high of $24.50. The stock has a market cap of $18,560.00, a PE ratio of 10.59, a price-to-earnings-growth ratio of 0.69 and a beta of 1.58.
In other news, major shareholder Holdings L.P. Valueact bought 1,450,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were purchased at an average price of $21.55 per share, for a total transaction of $31,247,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Delek Group Ltd. acquired a new position in shares of KKR & Co. L.P. in the 4th quarter valued at $6,729,000. Alkeon Capital Management LLC boosted its holdings in shares of KKR & Co. L.P. by 35.3% in the 4th quarter. Alkeon Capital Management LLC now owns 3,239,106 shares of the asset manager’s stock valued at $68,215,000 after purchasing an additional 844,754 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in shares of KKR & Co. L.P. by 70.4% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 84,683 shares of the asset manager’s stock valued at $1,783,000 after purchasing an additional 35,000 shares during the last quarter. Meitav Dash Investments Ltd. acquired a new position in shares of KKR & Co. L.P. in the 4th quarter valued at $20,100,000. Finally, Lake Street Advisors Group LLC acquired a new position in shares of KKR & Co. L.P. in the 4th quarter valued at $310,000. Institutional investors own 68.20% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This piece was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://sportsperspectives.com/2018/03/13/kkr-co-l-p-kkr-price-target-increased-to-28-00-by-analysts-at-bank-of-america.html.
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.
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.