Ares Capital (NASDAQ:ARCC) Stock Rating Upgraded by Wall Street Zen

by · The Markets Daily

Ares Capital (NASDAQ:ARCC – Get Free Report) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

A number of other analysts have also recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a research report on Friday, September 4th. Truist Financial cut their price objective on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Keefe, Bruyette & Woods reduced their target price on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Wells Fargo & Company restated an “equal weight” rating and set a $19.00 price target (down from $20.00) on shares of Ares Capital in a research note on Friday, June 12th. Finally, UBS Group lifted their price objective on shares of Ares Capital from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.60.

Read Our Latest Analysis on ARCC

Ares Capital Price Performance

ARCC stock opened at $19.40 on Friday. Ares Capital has a 52 week low of $17.40 and a 52 week high of $21.64. The company has a market capitalization of $13.93 billion, a price-to-earnings ratio of 14.37 and a beta of 0.57. The firm’s 50-day moving average is $19.52 and its two-hundred day moving average is $18.89. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.14.

Ares Capital (NASDAQ:ARCC – Get Free Report) last released its earnings results on Wednesday, July 29th. The investment management company reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%.The firm had revenue of $768.00 million during the quarter, compared to the consensus estimate of $770.19 million. During the same period in the prior year, the firm posted $0.50 earnings per share. On average, analysts forecast that Ares Capital will post 1.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Palladiem LLC bought a new position in shares of Ares Capital in the fourth quarter worth about $26,000. Orion Capital Management LLC acquired a new stake in Ares Capital in the 2nd quarter valued at approximately $25,000. Sankala Group LLC acquired a new stake in Ares Capital in the 4th quarter valued at approximately $28,000. Core Wealth Advisors LLC bought a new position in Ares Capital in the 4th quarter worth approximately $33,000. Finally, Continuum Advisory LLC bought a new position in Ares Capital in the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

About Ares Capital

(Get Free Report)

Ares Capital Corporation (NASDAQ: ARCC) is a business development company that provides financing to middle-market companies. The company invests primarily in privately originated loans and other debt investments, helping businesses fund acquisitions, recapitalizations, refinancings, growth initiatives and other corporate purposes.

Its investment portfolio generally includes senior secured loans, subordinated debt and mezzanine financing, along with selected equity investments. Ares Capital focuses on companies with established operations across a variety of industries and typically works with private equity sponsors, management teams and other financial partners.

Founded in 2004, Ares Capital is externally managed by Ares Capital Management LLC, an affiliate of global alternative investment manager Ares Management Corporation.

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