Truist Financial Forecasts Strong Price Appreciation for FS KKR Capital (NYSE:FSK) Stock

FS KKR Capital (NYSE:FSK) had its price target hoisted by equities researchers at Truist Financial from $11.00 to $12.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target would suggest a potential upside of 0.65% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Zacks Research downgraded shares of FS KKR Capital from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Keefe, Bruyette & Woods decreased their price objective on FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating for the company in a report on Thursday, April 16th. Wall Street Zen raised FS KKR Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $11.00 target price on shares of FS KKR Capital in a report on Tuesday, May 12th. Six research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $10.93.

FS KKR Capital Trading Up 0.4%

NYSE FSK opened at $11.92 on Friday. FS KKR Capital has a 52 week low of $9.72 and a 52 week high of $18.85. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.00 and a current ratio of 2.00. The stock’s 50 day moving average price is $10.72 and its two-hundred day moving average price is $11.26. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -6.07 and a beta of 0.83.

FS KKR Capital (NYSE:FSK) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. The company had revenue of $290.00 million during the quarter, compared to analysts’ expectations of $286.75 million. During the same period last year, the business earned ($0.75) EPS. As a group, analysts anticipate that FS KKR Capital will post 1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FS KKR Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in FS KKR Capital by 55,074.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,741,004 shares of the company’s stock valued at $114,644,000 after purchasing an additional 7,726,974 shares during the period. Saba Capital Management L.P. acquired a new position in FS KKR Capital in the 1st quarter valued at $35,729,000. Oak Hill Advisors LP bought a new position in FS KKR Capital during the 4th quarter worth $38,659,000. Cura Wealth Advisors LLC bought a new position in FS KKR Capital during the 2nd quarter worth $22,391,000. Finally, Rivernorth Capital Management LLC lifted its holdings in shares of FS KKR Capital by 580.7% during the first quarter. Rivernorth Capital Management LLC now owns 2,097,170 shares of the company’s stock worth $21,349,000 after buying an additional 1,789,090 shares in the last quarter. 36.26% of the stock is owned by institutional investors.

About FS KKR Capital

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.