Ares Capital (ARCC) Rating Increased to Hold at BidaskClub

Ares Capital (NASDAQ:ARCC) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

ARCC has been the subject of several other research reports. Zacks Investment Research cut shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. TheStreet upgraded shares of Ares Capital from a “c+” rating to a “b-” rating in a research note on Tuesday, December 12th. Compass Point initiated coverage on shares of Ares Capital in a research note on Wednesday, December 6th. They issued a “buy” rating and a $17.50 target price for the company. National Securities restated a “buy” rating and issued a $19.00 target price on shares of Ares Capital in a research note on Thursday, February 15th. Finally, Oppenheimer set a $18.00 target price on shares of Ares Capital and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Ares Capital presently has an average rating of “Buy” and an average target price of $18.00.

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ARCC stock opened at $15.71 on Friday. Ares Capital has a 52-week low of $15.03 and a 52-week high of $17.70. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $6,697.16, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 3.35 and a beta of 0.60.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, February 13th. The investment management company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Ares Capital had a net margin of 57.50% and a return on equity of 8.43%. The company had revenue of $307.00 million during the quarter, compared to analysts’ expectations of $301.38 million. During the same quarter last year, the business earned $0.42 EPS. The business’s revenue was up 17.6% on a year-over-year basis. equities analysts anticipate that Ares Capital will post 1.56 earnings per share for the current fiscal year.

In related news, insider Michael J. Arougheti acquired 25,000 shares of Ares Capital stock in a transaction that occurred on Thursday, March 15th. The stock was purchased at an average price of $15.60 per share, for a total transaction of $390,000.00. Following the completion of the purchase, the insider now directly owns 984,535 shares of the company’s stock, valued at $15,358,746. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Penelope F. Roll acquired 3,000 shares of Ares Capital stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $15.81 per share, with a total value of $47,430.00. The disclosure for this purchase can be found here. Insiders purchased 28,400 shares of company stock valued at $443,850 in the last quarter. Company insiders own 0.45% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ARCC. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Ares Capital by 8.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 165,239 shares of the investment management company’s stock valued at $2,708,000 after purchasing an additional 12,574 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Ares Capital in the third quarter valued at about $167,000. Ameriprise Financial Inc. lifted its stake in shares of Ares Capital by 4.3% in the third quarter. Ameriprise Financial Inc. now owns 5,732,052 shares of the investment management company’s stock valued at $93,986,000 after purchasing an additional 236,468 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Ares Capital by 89.2% in the third quarter. Oppenheimer & Co. Inc. now owns 25,139 shares of the investment management company’s stock valued at $412,000 after purchasing an additional 11,855 shares during the period. Finally, Fernwood Investment Management LLC lifted its stake in shares of Ares Capital by 6.2% in the third quarter. Fernwood Investment Management LLC now owns 95,439 shares of the investment management company’s stock valued at $1,564,000 after purchasing an additional 5,543 shares during the period. Hedge funds and other institutional investors own 42.67% of the company’s stock.

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Ares Capital 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 (NASDAQ:ARCC)

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