FS KKR Capital (NYSE:FSK) Given New $11.00 Price Target at JPMorgan Chase & Co.

FS KKR Capital (NYSE:FSK) had its target price raised by equities researchers at JPMorgan Chase & Co. from $9.50 to $11.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 8.75% from the stock’s previous close.

FSK has been the topic of a number of other reports. Truist Financial lifted their price target on FS KKR Capital from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Friday, August 7th. Wells Fargo & Company cut their price objective on FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $13.00 target price (up from $11.00) on shares of FS KKR Capital in a report on Wednesday, August 12th. Zacks Research upgraded shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FS KKR Capital in a research note on Tuesday, June 2nd. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $11.43.

FS KKR Capital Stock Performance

NYSE FSK traded up $0.14 during trading hours on Wednesday, hitting $12.05. 1,371,144 shares of the stock were exchanged, compared to its average volume of 3,337,504. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -8.93 and a beta of 0.83. FS KKR Capital has a 12-month low of $9.72 and a 12-month high of $18.25. The stock has a 50-day moving average of $10.94 and a 200 day moving average of $11.14. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.26.

FS KKR Capital (NYSE:FSK) last released its earnings results on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $290.00 million for the quarter, compared to analysts’ expectations of $286.75 million. FS KKR Capital had a positive return on equity of 9.70% and a negative net margin of 28.52%.During the same quarter in the previous year, the firm posted ($0.75) EPS. As a group, equities research analysts forecast that FS KKR Capital will post 1.64 earnings per share for the current year.

Hedge Funds Weigh In On FS KKR Capital

Several hedge funds and other institutional investors have recently bought and sold shares of FSK. Northwestern Mutual Wealth Management Co. raised its stake in shares of FS KKR Capital by 55,074.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,741,004 shares of the company’s stock worth $114,644,000 after buying an additional 7,726,974 shares during the last quarter. Saba Capital Management L.P. acquired a new stake in FS KKR Capital in the 1st quarter valued at about $35,729,000. Legal & General Group Plc purchased a new position in FS KKR Capital during the 2nd quarter valued at about $28,742,000. Silver Point Capital L.P. purchased a new position in FS KKR Capital during the 2nd quarter valued at about $28,602,000,000. Finally, Oak Hill Advisors LP acquired a new position in FS KKR Capital during the fourth quarter worth about $38,659,000. 36.26% of the stock is owned by institutional investors and hedge funds.

FS KKR Capital Company Profile

FS KKR Capital Corp (NYSE:FSK) is a closed-end, externally managed business development company that primarily invests in private middle-market U.S. companies. The firm seeks to generate current income and capital appreciation by structuring investments in floating-rate senior secured loans, unitranche financings, second lien debt and mezzanine instruments. As a business development company, FSK provides financing solutions designed to support growth initiatives, acquisitions, leveraged buyouts and recapitalizations for privately held enterprises.

Established in 2018 through a strategic partnership between FS Investment Corporation and KKR Credit Advisors, a division of global investment firm KKR & Co Inc, FSK combines the credit underwriting capabilities of KKR’s global platform with FS’s expertise in private credit markets.