Ares Capital (NASDAQ:ARCC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ares Capital (NASDAQ:ARCC) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other equities research analysts have also issued reports on ARCC. Truist Financial cut their target price on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Royal Bank Of Canada decreased their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods decreased their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. JPMorgan Chase & Co. lowered their price objective on Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Finally, Citizens Jmp cut their price objective on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.60.

Ares Capital Stock Up 0.6%

ARCC stock opened at $18.89 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. The firm has a 50 day simple moving average of $18.66 and a 200-day simple moving average of $18.94. The company has a market capitalization of $13.56 billion, a P/E ratio of 11.59 and a beta of 0.56. Ares Capital has a twelve month low of $17.40 and a twelve month high of $23.12.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $763.00 million during the quarter, compared to analyst estimates of $778.00 million. Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 earnings per share. On average, equities research analysts predict that Ares Capital will post 1.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Accel Wealth Management raised its stake in Ares Capital by 4.0% during the second quarter. Accel Wealth Management now owns 56,895 shares of the investment management company’s stock worth $1,054,000 after acquiring an additional 2,185 shares during the period. Family Wealth Partners LLC lifted its holdings in Ares Capital by 8.4% in the second quarter. Family Wealth Partners LLC now owns 35,807 shares of the investment management company’s stock worth $663,000 after acquiring an additional 2,768 shares during the last quarter. Kentucky Trust Co boosted its stake in Ares Capital by 4.7% in the second quarter. Kentucky Trust Co now owns 18,106 shares of the investment management company’s stock valued at $336,000 after acquiring an additional 810 shares during the period. Wealthcare Advisory Partners LLC boosted its stake in Ares Capital by 14.3% in the second quarter. Wealthcare Advisory Partners LLC now owns 264,044 shares of the investment management company’s stock valued at $4,893,000 after acquiring an additional 32,983 shares during the period. Finally, Key Client Fiduciary Advisors LLC grew its holdings in shares of Ares Capital by 3.7% during the second quarter. Key Client Fiduciary Advisors LLC now owns 67,752 shares of the investment management company’s stock valued at $1,255,000 after purchasing an additional 2,388 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.

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.