PennantPark Floating Rate Capital (NYSE:PFLT) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of PennantPark Floating Rate Capital (NYSE:PFLT) from a hold rating to a sell rating in a research note released on Saturday.

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods upgraded PennantPark Floating Rate Capital from a “hold” rating to a “moderate buy” rating and set a $10.50 price target on the stock in a report on Monday, October 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of PennantPark Floating Rate Capital in a research note on Wednesday. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

PennantPark Floating Rate Capital Price Performance

PFLT opened at $8.55 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.22 and a current ratio of 0.22. PennantPark Floating Rate Capital has a fifty-two week low of $8.49 and a fifty-two week high of $11.90. The stock has a market cap of $848.33 million, a P/E ratio of 10.18 and a beta of 0.97.

PennantPark Floating Rate Capital (NYSE:PFLT) last posted its earnings results on Wednesday, November 17th. The company reported $0.28 EPS for the quarter. PennantPark Floating Rate Capital had a net margin of 28.31% and a return on equity of 10.04%. The firm had revenue of $10.69 million for the quarter.

PennantPark Floating Rate Capital Company Profile

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.