Saratoga Investment Corp (NYSE:SAR) had its target price increased by analysts at Maxim Group to $24.00 in a research report issued to clients and investors on Tuesday, October 17th, The Fly reports. The firm presently has a “buy” rating on the financial services provider’s stock. Maxim Group’s price target suggests a potential upside of 7.53% from the stock’s previous close. The analysts noted that the move was a valuation call.
Other research analysts have also recently issued reports about the stock. Compass Point raised shares of Saratoga Investment Corp from a “neutral” rating to a “buy” rating in a report on Friday, October 13th. Zacks Investment Research downgraded shares of Saratoga Investment Corp from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. National Securities reissued a “neutral” rating and issued a $23.00 price objective on shares of Saratoga Investment Corp in a report on Monday, October 16th. Janney Montgomery Scott started coverage on shares of Saratoga Investment Corp in a report on Friday, October 6th. They issued a “neutral” rating on the stock. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Saratoga Investment Corp in a report on Thursday, September 7th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Saratoga Investment Corp currently has a consensus rating of “Buy” and an average price target of $24.33.
Shares of Saratoga Investment Corp (SAR) traded up $0.08 during mid-day trading on Tuesday, hitting $22.44. 10,266 shares of the stock traded hands, compared to its average volume of 16,766. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.11 and a current ratio of 0.11. Saratoga Investment Corp has a 52 week low of $17.24 and a 52 week high of $23.78. The stock has a market capitalization of $134.73, a P/E ratio of 11.53 and a beta of 0.47.
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Several institutional investors have recently added to or reduced their stakes in SAR. Dynamic Technology Lab Private Ltd bought a new stake in shares of Saratoga Investment Corp during the second quarter valued at approximately $223,000. GSA Capital Partners LLP bought a new stake in shares of Saratoga Investment Corp during the second quarter valued at approximately $215,000. Northern Trust Corp purchased a new stake in Saratoga Investment Corp in the second quarter valued at approximately $213,000. Ameriprise Financial Inc. purchased a new stake in Saratoga Investment Corp in the first quarter valued at approximately $213,000. Finally, JPMorgan Chase & Co. boosted its position in Saratoga Investment Corp by 925.6% in the 1st quarter. JPMorgan Chase & Co. now owns 10,256 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 9,256 shares in the last quarter. Hedge funds and other institutional investors own 16.91% of the company’s stock.
Saratoga Investment Corp Company Profile
Saratoga Investment Corp. is a specialty finance company. The Company is an externally managed, closed-end, non-diversified management investment company. The Company invests primarily in leveraged loans and mezzanine debt issued by private middle-market companies in the United States. Its investment objective is to generate current income and, to a lesser extent, capital appreciation from its investments.
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