Ares Capital Corporation (NASDAQ:ARCC) Earns Hold Rating from BMO Capital Markets

Ares Capital Corporation (NASDAQ:ARCC)‘s stock had its “hold” rating restated by BMO Capital Markets in a research note issued to investors on Friday, August 25th. They presently have a $15.00 price objective on the investment management company’s stock. BMO Capital Markets’ price target points to a potential downside of 6.66% from the company’s previous close.

Several other equities analysts also recently weighed in on ARCC. Janney Montgomery Scott restated a “neutral” rating on shares of Ares Capital Corporation in a report on Friday, May 5th. National Securities upgraded shares of Ares Capital Corporation from a “neutral” rating to a “buy” rating and raised their target price for the company from $18.00 to $19.00 in a report on Monday, May 8th. Keefe, Bruyette & Woods restated a “buy” rating and set a $18.50 target price on shares of Ares Capital Corporation in a report on Friday, June 16th. TheStreet cut shares of Ares Capital Corporation from a “b” rating to a “c+” rating in a research note on Wednesday, June 14th. Finally, BidaskClub raised shares of Ares Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.06.

Ares Capital Corporation (ARCC) traded down 0.43% during trading on Friday, reaching $16.07. 2,444,499 shares of the company were exchanged. The stock has a 50 day moving average price of $16.25 and a 200 day moving average price of $16.81. Ares Capital Corporation has a 12 month low of $15.01 and a 12 month high of $17.87.

Ares Capital Corporation (NASDAQ:ARCC) last posted its earnings results on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Ares Capital Corporation had a net margin of 44.61% and a return on equity of 8.95%. The business had revenue of $284 million for the quarter, compared to analysts’ expectations of $297.77 million. During the same quarter last year, the business posted $0.50 earnings per share. Equities research analysts forecast that Ares Capital Corporation will post $1.40 EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in the business. Muzinich & Co. Inc. lifted its position in Ares Capital Corporation by 67.0% during the first quarter. Muzinich & Co. Inc. now owns 13,549,229 shares of the investment management company’s stock valued at $235,486,000 after buying an additional 5,436,225 shares in the last quarter. FMR LLC lifted its position in Ares Capital Corporation by 2.9% during the first quarter. FMR LLC now owns 8,830,287 shares of the investment management company’s stock valued at $153,471,000 after buying an additional 251,747 shares in the last quarter. Principal Financial Group Inc. lifted its position in Ares Capital Corporation by 174.6% during the second quarter. Principal Financial Group Inc. now owns 5,725,346 shares of the investment management company’s stock valued at $93,782,000 after buying an additional 3,640,124 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Ares Capital Corporation by 1.5% during the second quarter. Ameriprise Financial Inc. now owns 5,495,584 shares of the investment management company’s stock valued at $90,020,000 after buying an additional 78,599 shares in the last quarter. Finally, Confluence Investment Management LLC lifted its position in Ares Capital Corporation by 4.9% during the second quarter. Confluence Investment Management LLC now owns 4,895,029 shares of the investment management company’s stock valued at $80,181,000 after buying an additional 229,670 shares in the last quarter. 45.87% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Corporation Company Profile

Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.

Analyst Recommendations for Ares Capital Corporation (NASDAQ:ARCC)

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