Triangle Capital (TCAP) Rating Lowered to Underperform at UBS

UBS downgraded shares of Triangle Capital (NYSE:TCAP) to an underperform rating in a research report report published on Thursday morning, The Fly reports.

Several other brokerages have also recently weighed in on TCAP. Zacks Investment Research cut Triangle Capital from a hold rating to a strong sell rating in a research note on Wednesday, March 7th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $12.00 price target on shares of Triangle Capital in a research note on Thursday, March 1st. ValuEngine cut Triangle Capital from a strong-buy rating to a buy rating in a research note on Friday, February 2nd. National Securities reaffirmed a neutral rating and issued a $11.00 price target on shares of Triangle Capital in a research note on Friday, March 2nd. Finally, Raymond James Financial raised Triangle Capital from an underperform rating to a market perform rating in a research note on Thursday, January 11th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $15.50.

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Shares of TCAP traded down $0.20 during mid-day trading on Thursday, hitting $11.61. 451,194 shares of the company’s stock traded hands, compared to its average volume of 488,346. The company has a debt-to-equity ratio of 0.88, a quick ratio of 43.15 and a current ratio of 43.15. Triangle Capital has a 1 year low of $8.91 and a 1 year high of $19.15. The stock has a market capitalization of $578.70, a PE ratio of 7.62, a price-to-earnings-growth ratio of 1.95 and a beta of 0.77.

Triangle Capital (NYSE:TCAP) last posted its earnings results on Wednesday, February 28th. The credit services provider reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.05. Triangle Capital had a positive return on equity of 10.67% and a negative net margin of 23.29%. The firm had revenue of $31.70 million for the quarter, compared to analysts’ expectations of $28.85 million. During the same period in the previous year, the firm earned $0.46 earnings per share. research analysts forecast that Triangle Capital will post 1.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 10.34%. The ex-dividend date of this dividend was Tuesday, March 13th. Triangle Capital’s dividend payout ratio (DPR) is 77.42%.

Institutional investors have recently added to or reduced their stakes in the business. Family Management Corp bought a new stake in Triangle Capital in the fourth quarter worth $267,000. Greenwich Investment Management Inc. boosted its holdings in Triangle Capital by 114.8% in the fourth quarter. Greenwich Investment Management Inc. now owns 271,484 shares of the credit services provider’s stock worth $2,576,000 after acquiring an additional 145,116 shares in the last quarter. Ares Management LLC boosted its holdings in Triangle Capital by 107.3% in the fourth quarter. Ares Management LLC now owns 942,770 shares of the credit services provider’s stock worth $8,947,000 after acquiring an additional 487,910 shares in the last quarter. Cetera Advisor Networks LLC bought a new stake in Triangle Capital in the fourth quarter worth $457,000. Finally, State of Tennessee Treasury Department bought a new stake in Triangle Capital in the fourth quarter worth $211,000. 45.09% of the stock is currently owned by institutional investors and hedge funds.

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Triangle Capital Company Profile

Triangle Capital Corporation is a business development company specializing in private equity and mezzanine investments. It focuses on leveraged buyouts, management buyouts, ESOPs, change of control transactions, acquisition financings, growth financing, and recapitalizations in lower middle market, mature, and later stage companies.

The Fly

Analyst Recommendations for Triangle Capital (NYSE:TCAP)

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