Zacks Research Upgrades Saratoga Investment (NYSE:SAR) to “Hold”

Saratoga Investment (NYSE:SAR) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. LADENBURG THALM/SH SH upgraded Saratoga Investment to a “hold” rating in a report on Thursday, October 9th. B. Riley decreased their price target on shares of Saratoga Investment from $23.50 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. Weiss Ratings restated a “hold (c)” rating on shares of Saratoga Investment in a research note on Monday. Finally, Janney Montgomery Scott reiterated a “neutral” rating on shares of Saratoga Investment in a research report on Friday, October 10th. Six investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.63.

Saratoga Investment Stock Up 0.2%

Shares of NYSE SAR traded up $0.05 on Monday, reaching $23.17. 17,448 shares of the company’s stock traded hands, compared to its average volume of 115,097. Saratoga Investment has a 12 month low of $21.10 and a 12 month high of $26.17. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.17. The company has a market cap of $372.96 million, a price-to-earnings ratio of 9.90 and a beta of 0.54. The business’s 50 day simple moving average is $22.44 and its two-hundred day simple moving average is $23.96.

Saratoga Investment (NYSE:SAR) last announced its quarterly earnings data on Tuesday, October 7th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.09). The company had revenue of $22.03 million for the quarter, compared to analysts’ expectations of $32.39 million. Saratoga Investment had a net margin of 27.19% and a return on equity of 10.09%. As a group, equities research analysts forecast that Saratoga Investment will post 3.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Saratoga Investment

Institutional investors have recently added to or reduced their stakes in the stock. Lido Advisors LLC lifted its holdings in shares of Saratoga Investment by 6.2% in the third quarter. Lido Advisors LLC now owns 197,873 shares of the financial services provider’s stock worth $4,826,000 after buying an additional 11,620 shares in the last quarter. Private Advisor Group LLC lifted its stake in Saratoga Investment by 4.6% in the 3rd quarter. Private Advisor Group LLC now owns 158,286 shares of the financial services provider’s stock worth $3,861,000 after purchasing an additional 7,006 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Saratoga Investment by 9.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 115,641 shares of the financial services provider’s stock valued at $2,820,000 after purchasing an additional 10,356 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Saratoga Investment by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 94,950 shares of the financial services provider’s stock valued at $2,352,000 after purchasing an additional 1,020 shares during the last quarter. Finally, LPL Financial LLC grew its position in shares of Saratoga Investment by 1.6% during the first quarter. LPL Financial LLC now owns 88,665 shares of the financial services provider’s stock valued at $2,246,000 after purchasing an additional 1,361 shares in the last quarter. 19.09% of the stock is owned by hedge funds and other institutional investors.

About Saratoga Investment

Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity.