KKR, a leading investing firm, will report Q2 earnings Monday. Investors will watch to see if it can repeat a blowout like it had in the first quarter. On May 18, KKR reported an earnings reversal from a 2-cents per share loss a year ago to 36 cents a share profit. Revenue soared 213% to $3.13 billion in Q1. On Friday the Relative Strength (RS) Rating for KKR stock jumped into the 80-plus percentile with an upgrade to 81, a rise from 77 the day before.
The 81 RS Rating puts KKR in the top 19% of all stocks for price performance over the past year. That's a significant change because research shows that stocks that go on to make the biggest gains tend to have an RS Rating north of 80 in the early stages of their moves.
Looking For The Best Stocks To Buy And Watch? Start Here
KKR Stock In Buy Zone
KKR stock is still inside a buy zone after moving past a 58.89 entry in a cup with handle. New York City-based KKR also appears to be working on a longer cup base that began in early November 2021 when it rose to an all-time high 83.90. It dropped to a 41.77 low on Oct. 13 last year near the end of the bear market, and turned up. Friday KKR closed above 60.
Among its other ratings, KKR stock has a weak 40 Earnings Per Share Rating, reflecting poor earnings last year. Its 61 Composite Rating could use some work too. Its C Accumulation/Distribution Rating is a bit more bullish; it shows big funds are buying about as many shares of KKR as they're selling, on average. The number of funds that own KKR stock rose from 1,156 in the March-ended quarter to 1,172 in June, highest in the last four quarters.
Companies That Lead Investment Management Group
KKR stock holds the No. 63 rank among its peers in the Finance-Investment Management industry group. Burford Capital and Capital Southwest are also among the group's highest-rated stocks.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
The exclusive Relative Strength Rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
Please follow James DeTar on Twitter @JimDeTar
