Wells Fargo & Company Cuts Ares Capital (NASDAQ:ARCC) Price Target to $22.00

Ares Capital (NASDAQ:ARCC) had its price target decreased by stock analysts at Wells Fargo & Company from $23.00 to $22.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the investment management company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 3.90% from the stock’s current price.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Ares Capital from $24.50 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday. Royal Bank of Canada upped their target price on Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods dropped their target price on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Raymond James downgraded shares of Ares Capital from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. Finally, UBS Group reduced their target price on Ares Capital from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ares Capital has a consensus rating of “Moderate Buy” and a consensus price target of $22.22.

Ares Capital Trading Up 0.3 %

Shares of NASDAQ:ARCC traded up $0.07 during midday trading on Monday, hitting $21.18. 747,800 shares of the stock were exchanged, compared to its average volume of 4,077,693. Ares Capital has a 12 month low of $18.26 and a 12 month high of $23.84. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $14.49 billion, a price-to-earnings ratio of 8.66 and a beta of 0.77. The business’s 50-day moving average price is $21.60 and its 200 day moving average price is $21.95.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. Analysts predict that Ares Capital will post 2.19 earnings per share for the current year.

Institutional Trading of Ares Capital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sculati Wealth Management LLC lifted its stake in shares of Ares Capital by 1.0% in the 3rd quarter. Sculati Wealth Management LLC now owns 115,744 shares of the investment management company’s stock valued at $2,410,000 after purchasing an additional 1,149 shares during the period. World Investment Advisors LLC purchased a new stake in Ares Capital in the third quarter worth about $252,000. Sfmg LLC grew its stake in shares of Ares Capital by 4.3% in the 3rd quarter. Sfmg LLC now owns 439,503 shares of the investment management company’s stock worth $9,203,000 after buying an additional 18,056 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Ares Capital by 382.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 61,609 shares of the investment management company’s stock valued at $1,290,000 after acquiring an additional 48,848 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Ares Capital by 6.2% during the third quarter. Tidal Investments LLC now owns 63,385 shares of the investment management company’s stock valued at $1,327,000 after buying an additional 3,726 shares during the last quarter. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Company Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.