Solar Capital (SLRC) Lifted to “Sell” at BidaskClub

Solar Capital (NASDAQ:SLRC) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

SLRC has been the topic of several other research reports. JMP Securities upgraded shares of Solar Capital from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 16th. Keefe, Bruyette & Woods upgraded shares of Solar Capital from a “market perform” rating to an “outperform” rating and set a $23.00 target price on the stock in a report on Friday, January 12th. Zacks Investment Research upgraded shares of Solar Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, National Securities reiterated a “buy” rating and issued a $25.00 price target on shares of Solar Capital in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $23.67.

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Shares of SLRC stock traded down $0.63 during mid-day trading on Friday, reaching $20.04. 146,368 shares of the company traded hands, compared to its average volume of 118,943. Solar Capital has a 52 week low of $19.70 and a 52 week high of $22.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $873.53, a PE ratio of 12.00, a P/E/G ratio of 2.34 and a beta of 0.55.

Solar Capital (NASDAQ:SLRC) last issued its earnings results on Thursday, February 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. Solar Capital had a net margin of 49.14% and a return on equity of 7.43%. The company had revenue of $38.91 million for the quarter, compared to analysts’ expectations of $37.65 million. analysts predict that Solar Capital will post 1.77 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp raised its position in Solar Capital by 11.7% in the second quarter. Northern Trust Corp now owns 10,412 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 1,088 shares during the period. OxFORD Asset Management LLP raised its position in Solar Capital by 3.4% in the third quarter. OxFORD Asset Management LLP now owns 71,054 shares of the financial services provider’s stock worth $1,522,000 after acquiring an additional 2,352 shares during the period. Signia Capital Management LLC raised its position in Solar Capital by 2.5% in the third quarter. Signia Capital Management LLC now owns 134,066 shares of the financial services provider’s stock worth $2,901,000 after acquiring an additional 3,315 shares during the period. Mckinley Capital Management LLC Delaware raised its position in Solar Capital by 2.4% in the fourth quarter. Mckinley Capital Management LLC Delaware now owns 230,376 shares of the financial services provider’s stock worth $4,656,000 after acquiring an additional 5,391 shares during the period. Finally, Sei Investments Co. raised its position in Solar Capital by 19.2% in the third quarter. Sei Investments Co. now owns 40,652 shares of the financial services provider’s stock worth $879,000 after acquiring an additional 6,552 shares during the period. Institutional investors and hedge funds own 61.78% of the company’s stock.

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About Solar Capital

Solar Capital Ltd. is a closed-end, externally managed, 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 in privately held the United States middle market companies.

Analyst Recommendations for Solar Capital (NASDAQ:SLRC)

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