Ares Capital (NASDAQ:ARCC) Upgraded to Hold at StockNews.com

by · The Cerbat Gem

Ares Capital (NASDAQ:ARCC – Get Free Report) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Other equities analysts also recently issued reports about the company. JMP Securities boosted their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 30th. UBS Group raised Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Compass Point raised Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Royal Bank of Canada restated an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a research note on Monday, August 5th. Finally, B. Riley increased their price objective on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.86.

Check Out Our Latest Research Report on ARCC

Ares Capital Price Performance

ARCC stock traded down $0.06 during trading on Tuesday, reaching $21.53. The company’s stock had a trading volume of 3,293,951 shares, compared to its average volume of 3,384,608. The company has a market capitalization of $13.91 billion, a P/E ratio of 8.28 and a beta of 1.01. The company’s fifty day moving average is $21.03 and its 200-day moving average is $20.98. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. Ares Capital has a 1 year low of $19.32 and a 1 year high of $22.05.

Ares Capital (NASDAQ:ARCC – Get Free Report) last posted its earnings results on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The business had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. On average, research analysts expect that Ares Capital will post 2.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ares Capital

Hedge funds have recently modified their holdings of the business. Jamison Private Wealth Management Inc. grew its stake in Ares Capital by 62.7% in the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after purchasing an additional 475 shares in the last quarter. Asset Dedication LLC acquired a new stake in Ares Capital in the second quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new position in Ares Capital in the 2nd quarter valued at $32,000. nVerses Capital LLC raised its stake in Ares Capital by 88.9% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock valued at $35,000 after purchasing an additional 800 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in Ares Capital in the 2nd quarter valued at $42,000. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

About Ares Capital

(Get Free Report)

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.

Featured Stories