JPMorgan Chase & Co. Lowers Ares Capital (NASDAQ:ARCC) Price Target to $18.50

Ares Capital (NASDAQ:ARCC) had its price objective lowered by JPMorgan Chase & Co. from $19.00 to $18.50 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 0.86% from the company’s previous close.

ARCC has been the topic of several other research reports. UBS Group lowered their target price on shares of Ares Capital from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, March 13th. Truist Financial cut their target price on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods reduced their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. B. Riley Financial decreased their price target on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $19.00 price objective (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ares Capital has an average rating of “Moderate Buy” and a consensus price target of $20.60.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $18.66 on Thursday. The stock has a 50-day moving average price of $18.70 and a 200 day moving average price of $19.13. The stock has a market capitalization of $13.40 billion, a P/E ratio of 11.45 and a beta of 0.56. Ares Capital has a 12-month low of $17.40 and a 12-month high of $23.42. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The business had revenue of $763.00 million during the quarter, compared to analysts’ expectations of $778.00 million. During the same period in the prior year, the firm posted $0.50 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts forecast that Ares Capital will post 1.91 EPS for the current fiscal year.

Institutional Trading of Ares Capital

A number of large investors have recently made changes to their positions in ARCC. Palladiem LLC purchased a new position in Ares Capital in the fourth quarter worth about $26,000. SWAN Capital LLC bought a new stake in shares of Ares Capital in the 3rd quarter valued at approximately $27,000. Sankala Group LLC bought a new stake in shares of Ares Capital in the 4th quarter valued at approximately $28,000. Core Wealth Advisors LLC purchased a new position in shares of Ares Capital in the 4th quarter worth approximately $33,000. Finally, Quarry LP purchased a new position in shares of Ares Capital in the 3rd quarter worth approximately $33,000. 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.