Ares Capital (NASDAQ: ARCC) Now Covered By Analysts Janney Montgomery Scott
Janney Montgomery Scott’s investment analysts assumed the stock cover for Ares Capital (NASDAQ: ARCC) in a research note released to investors on Friday, The Fly reports. The brokerage established a “buy” rating on the shares of the investment management company.
The ARCC has been the subject of a number of other reports. Raymond James increased his price target on Ares Capital from $ 21.00 to $ 22.00 and rated the stock as “outperforming” in a research report published on Wednesday, October 27. Zacks Investment Research downgraded Ares Capital from a “buy” rating to a “keep” rating and set a price target of $ 23.00 for the share. in a research report on Friday, October 29. Wells Fargo & Company raised its price target on Ares Capital from $ 22.00 to $ 22.75 and rated the stock “overweight” in a research report published on Monday, October 25. Finally, Citigroup raised its price target on Ares Capital from $ 22.00 to $ 23.00 and gave the stock a “buy” rating in a report released on Tuesday, November 2. Three equity research analysts rated the stock with a conservation rating and six gave the company’s stock a buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $ 21.22.
ARCC stock opened at $ 20.38 on Friday. Ares Capital has a one-year low at $ 16.17 and a one-year high at $ 21.74. The company has a market cap of $ 9.39 billion, a P / E ratio of 5.69 and a beta of 1.12. The company’s 50-day moving average is $ 20.84 and its 200-day moving average is $ 20.18. The company has a current ratio of 2.34, a rapid ratio of 2.34 and a debt ratio of 1.17.
Ares Capital (NASDAQ: ARCC) last released its quarterly earnings data on Monday, October 25. The investment management company reported earnings of $ 0.47 per share for the quarter, beating the consensus estimate of $ 0.45 by $ 0.02. Ares Capital has a return on equity of 10.96% and a net margin of 90.29%. The company posted revenue of $ 442.00 million for the quarter, compared to analysts’ estimates of $ 431.01 million. During the same period of the previous year, the company posted $ 0.39 in EPS. Sell-side analysts predict that Ares Capital will post 1.9 EPS for the current year.
Institutional investors recently changed their holdings of equities. Meeder Asset Management Inc. purchased a new position in Ares Capital during the second quarter valued at approximately $ 26,000. Mark Sheptoff Financial Planning LLC purchased a new position in Ares Capital during the 2nd quarter valued at approximately $ 33,000. CVA Family Office LLC purchased a new position in Ares Capital during the 3rd quarter valued at approximately $ 39,000. Sonora Investment Management LLC purchased a new position in Ares Capital during the 3rd quarter valued at approximately $ 41,000. Finally, Global Retirement Partners LLC increased its stake in Ares Capital shares by 55.7% in the 3rd quarter. Global Retirement Partners LLC now owns 2,065 shares of the investment management company valued at $ 42,000 after acquiring an additional 739 shares in the last quarter. 29.40% of the shares are currently held by institutional investors and hedge funds.
About Ares Capital
Ares Capital Corp is an undiversified closed-end investment company. The fund targets companies operating in healthcare, software and services, consumer durables and apparel, energy, food and beverage, and retail. It finances buybacks, acquisitions, recapitalizations, restructurings, bailout financing, development capital and general refinancing.
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