PennantPark Floating Rate Capital (NYSE:PFLT) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of PennantPark Floating Rate Capital (NYSE:PFLT) from a hold rating to a sell rating in a report released on Saturday morning.

Several other equities analysts have also commented on the stock. Keefe, Bruyette & Woods upgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “moderate buy” rating and set a $10.50 price target on the stock in a research note on Monday, October 6th. Weiss Ratings restated a “hold (c)” rating on shares of PennantPark Floating Rate Capital in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, PennantPark Floating Rate Capital has an average rating of “Moderate Buy” and an average target price of $10.50.

PennantPark Floating Rate Capital Trading Up 3.3%

Shares of PFLT stock opened at $8.79 on Friday. The firm has a market cap of $872.14 million, a P/E ratio of 10.46 and a beta of 0.97. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.22 and a quick ratio of 0.22. PennantPark Floating Rate Capital has a 12 month low of $8.49 and a 12 month high of $11.90.

PennantPark Floating Rate Capital (NYSE:PFLT) last announced its quarterly earnings results on Wednesday, November 17th. The company reported $0.28 earnings per share (EPS) for the quarter. PennantPark Floating Rate Capital had a return on equity of 10.04% and a net margin of 28.31%.The company had revenue of $10.69 million during the quarter.

About PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.