Ares Capital Corporation (NASDAQ:ARCC)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group LLC in a research report issued on Friday, November 3rd. They currently have a $19.50 target price on the investment management company’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 19.49% from the stock’s previous close. Jefferies Group also issued estimates for Ares Capital Corporation’s Q2 2018 earnings at $0.38 EPS, Q3 2018 earnings at $0.39 EPS, Q4 2018 earnings at $0.40 EPS and FY2018 earnings at $1.55 EPS.
ARCC has been the topic of several other reports. Keefe, Bruyette & Woods set a $19.00 price objective on Ares Capital Corporation and gave the stock a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research cut Ares Capital Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. BidaskClub cut Ares Capital Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. BMO Capital Markets reissued a “hold” rating and set a $15.00 price objective on shares of Ares Capital Corporation in a research note on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. initiated coverage on Ares Capital Corporation in a research note on Thursday, September 21st. They set an “outperform” rating and a $18.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. Ares Capital Corporation presently has an average rating of “Buy” and a consensus price target of $18.06.
Shares of Ares Capital Corporation (NASDAQ ARCC) opened at $16.32 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $6,960.00, a PE ratio of 11.33, a P/E/G ratio of 3.94 and a beta of 0.63. Ares Capital Corporation has a 52-week low of $15.48 and a 52-week high of $17.87.
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In other Ares Capital Corporation news, Director Michael J. Arougheti bought 8,365 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were purchased at an average price of $15.85 per share, with a total value of $132,585.25. Following the completion of the purchase, the director now owns 937,054 shares in the company, valued at approximately $14,852,305.90. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have bought 8,965 shares of company stock worth $142,323. Insiders own 0.45% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ARCC. Penserra Capital Management LLC grew its stake in Ares Capital Corporation by 8.9% in the second quarter. Penserra Capital Management LLC now owns 6,439 shares of the investment management company’s stock worth $105,000 after purchasing an additional 526 shares in the last quarter. Hudock Capital Group LLC grew its stake in Ares Capital Corporation by 3.2% in the second quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock worth $106,000 after purchasing an additional 200 shares in the last quarter. Ffcm LLC grew its stake in Ares Capital Corporation by 218.9% in the second quarter. Ffcm LLC now owns 6,840 shares of the investment management company’s stock worth $113,000 after purchasing an additional 4,695 shares in the last quarter. Legacy Advisors LLC bought a new position in Ares Capital Corporation in the third quarter worth approximately $128,000. Finally, Grove Bank & Trust grew its stake in Ares Capital Corporation by 45.4% in the second quarter. Grove Bank & Trust now owns 9,420 shares of the investment management company’s stock worth $154,000 after purchasing an additional 2,940 shares in the last quarter. 43.90% of the stock is currently owned by hedge funds and other institutional investors.
About Ares Capital Corporation
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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