The stock of KKR & Co. Inc. (NYSE:KKR) is now priced at $34.93 and the shares are 0.11 points up or 0.32% higher compared to its previous closing price of $34.82. The stock had 6.122 million contracts set over the past session. KKR shares’ daily volume is compared to its average trading volume at 4.045 million shares. However, it has a float of 531 million and although its performance was 0.32% over the week, it’s one to watch. Analysts have given the KKR stock a yearly average price target of $40.35 per share. It means the stock’s upside potential is 15.52% with the KKR share price recently placing at $34.87 to $35.11. However, some brokerage firms have priced the stock below the average, including one that has called $36.
The shorts are running away from the KKR & Co. Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the KKR shares have declined. Short interest in the stock represents just 4.02% of its float, but the volume has dropped by 0.
In the last trading session, KKR & Co. Inc. (NYSE:KKR) raised by $0.11 over the week and lost -$0.44 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $37.17. The stock recorded its established 52-week high on 08/10/20.
Since 03/18/20, the stock has traded to a low of $15.55 at 124.63%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.45. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, KKR & Co. Inc.’s two-week RSI is 50.66. This suggests that the stock is neutral at the moment and that KKR shares’ price movement remains stable. The stochastic readings are equally revealing at 26.23% meaning the KKR share price is currently in overbought territory.
The technical chart shows that the KKR stock will likely settle at between $35.07 and $35.21 per share. However, if the stock dips below $34.83, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $34.73.
Currently, the stock is trading in the red of MACD, with a reading of -0.08. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned KKR a rating of Overweight in their intiating review released on June 17. Barclays analysts upgraded their recommendation of the stock from Equal Weight to Overweight while keeping its target price at $37 in a flash note released to investors on February 03. JMP Securities seeing the stock struggling downgraded it from Mkt Outperform to Mkt Perform on January 13.
The average rating for the KKR equity is 1.94 and is currently gathering a bullish momentum. Of 16 analysts tracking KKR & Co. Inc. polled by Reuters, 4 rated KKR as a hold. The remaining 12 analysts were split evenly. However, the split wasn’t equal as a majority (12) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the KKR stock price is 17.26X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 124.8 above the group’s average of 21.3. KKR & Co. Inc. has its P/E ratio at 2.1, which means that the stock is currently trading at a premium relative to the 1.4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for KKR & Co. Inc. (NYSE:KKR) will decrease by about -18.33%, which will see them reach $833 million. The company’s full-year revenues are, however, expected to diminish by about -2.72%, down from $3680 million to $3580 million. KKR’s expected adjusted earnings should drop almost -23.91% to end up at $0.35 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -7.19% to record $1.55/share.