Ares Capital (NASDAQ:ARCC – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.
ARCC has been the topic of several other reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $19.00 price target (down from $20.00) on shares of Ares Capital in a research note on Friday, June 12th. JPMorgan Chase & Co. reduced their price objective on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a research report on Thursday, July 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Ares Capital in a report on Tuesday, June 9th. Keefe, Bruyette & Woods dropped their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Finally, B. Riley Financial dropped their target price on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.60.
Read Our Latest Report on ARCC
Ares Capital Stock Performance
Ares Capital (NASDAQ:ARCC – Get Free Report) last issued its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). The business had revenue of $763.00 million for the quarter, compared to analyst estimates of $778.00 million. Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.Ares Capital’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. As a group, analysts anticipate that Ares Capital will post 1.9 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in ARCC. Roman Butler Fullerton & Co. boosted its holdings in shares of Ares Capital by 1.9% in the first quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company’s stock valued at $504,000 after acquiring an additional 528 shares during the period. First Citizens Bank & Trust Co. increased its holdings in shares of Ares Capital by 5.3% in the 4th quarter. First Citizens Bank & Trust Co. now owns 10,530 shares of the investment management company’s stock valued at $213,000 after acquiring an additional 532 shares during the period. Perigon Wealth Management LLC raised its position in Ares Capital by 1.6% in the 4th quarter. Perigon Wealth Management LLC now owns 34,700 shares of the investment management company’s stock valued at $702,000 after purchasing an additional 547 shares during the last quarter. Diversify Advisory Services LLC raised its position in Ares Capital by 2.0% in the 4th quarter. Diversify Advisory Services LLC now owns 28,186 shares of the investment management company’s stock valued at $589,000 after purchasing an additional 563 shares during the last quarter. Finally, CWS Financial Advisors LLC raised its position in Ares Capital by 4.0% in the 1st quarter. CWS Financial Advisors LLC now owns 14,956 shares of the investment management company’s stock valued at $270,000 after purchasing an additional 582 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.
About Ares Capital
Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.
Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.
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