Ares Capital Corporation (NASDAQ:ARCC)‘s stock had its “hold” rating reissued by equities researchers at BMO Capital Markets in a research report issued to clients and investors on Friday, August 25th. They currently have a $15.00 price target on the investment management company’s stock. BMO Capital Markets’ price target would suggest a potential downside of 6.37% from the company’s current price.
A number of other analysts have also weighed in on ARCC. BidaskClub lowered shares of Ares Capital Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. TheStreet raised shares of Ares Capital Corporation from a “c+” rating to a “b” rating in a report on Monday, August 7th. Janney Montgomery Scott reissued a “neutral” rating on shares of Ares Capital Corporation in a report on Monday, May 15th. Zacks Investment Research downgraded shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, National Securities reissued a “buy” rating and issued a $19.00 price objective on shares of Ares Capital Corporation in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Ares Capital Corporation presently has an average rating of “Hold” and an average price target of $18.06.
Ares Capital Corporation (ARCC) traded up 0.82% during midday trading on Friday, hitting $16.02. 1,574,565 shares of the stock traded hands. The stock’s 50-day moving average price is $16.20 and its 200-day moving average price is $16.77. Ares Capital Corporation has a 52 week low of $15.01 and a 52 week high of $17.87.
Ares Capital Corporation (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $284 million for the quarter, compared to the consensus estimate of $297.77 million. Ares Capital Corporation had a net margin of 44.61% and a return on equity of 8.95%. During the same quarter in the prior year, the business posted $0.50 earnings per share. Equities analysts expect that Ares Capital Corporation will post $1.40 EPS for the current year.
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A number of hedge funds have recently bought and sold shares of ARCC. James Investment Research Inc. bought a new position in Ares Capital Corporation during the first quarter valued at $351,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Ares Capital Corporation during the first quarter valued at $199,000. Whittier Trust Co. boosted its stake in shares of Ares Capital Corporation by 5.5% during the first quarter. Whittier Trust Co. now owns 27,434 shares of the investment management company’s stock valued at $477,000 after purchasing an additional 1,426 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Ares Capital Corporation by 84.1% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 540,485 shares of the investment management company’s stock valued at $9,393,000 after purchasing an additional 246,835 shares during the period. Finally, Cottage Street Advisors LLC boosted its stake in shares of Ares Capital Corporation by 1.3% during the first quarter. Cottage Street Advisors LLC now owns 229,299 shares of the investment management company’s stock valued at $3,988,000 after purchasing an additional 3,000 shares during the period. Institutional investors and hedge funds own 45.88% of the company’s stock.
About Ares Capital Corporation
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.
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