Triangle Capital Corporation (NYSE:TCAP) Stock Rating Lowered by Bank of America Corporation

Triangle Capital Corporation (NYSE:TCAP) was downgraded by analysts at Bank of America Corporation from a “buy” rating to an “underperform” rating in a research report issued to clients and investors on Thursday, November 2nd, Marketbeat.com reports.

Several other brokerages have also issued reports on TCAP. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Triangle Capital Corporation in a research note on Tuesday, October 17th. National Securities reduced their price objective on shares of Triangle Capital Corporation from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 24th. Robert W. Baird raised shares of Triangle Capital Corporation from a “neutral” rating to an “outperform” rating and set a $16.00 price objective on the stock in a research note on Monday, August 28th. Jefferies Group LLC reissued a “buy” rating and set a $18.00 price objective (down previously from $23.00) on shares of Triangle Capital Corporation in a research note on Wednesday, August 9th. Finally, ValuEngine raised shares of Triangle Capital Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $16.57.

Shares of Triangle Capital Corporation (TCAP) traded down $0.07 during trading on Thursday, hitting $9.63. 443,944 shares of the company were exchanged, compared to its average volume of 377,186. The firm has a market cap of $458.79, a PE ratio of 5.97, a P/E/G ratio of 1.23 and a beta of 0.91. The company has a quick ratio of 56.98, a current ratio of 56.98 and a debt-to-equity ratio of 0.87. Triangle Capital Corporation has a 1-year low of $8.91 and a 1-year high of $20.35.

Triangle Capital Corporation (NYSE:TCAP) last issued its quarterly earnings data on Wednesday, November 1st. The credit services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). Triangle Capital Corporation had a positive return on equity of 10.67% and a negative net margin of 36.80%. The company had revenue of $29.88 million for the quarter, compared to the consensus estimate of $32.84 million. During the same period in the prior year, the company earned $0.41 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. equities analysts predict that Triangle Capital Corporation will post 1.56 EPS for the current year.

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Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Triangle Capital Corporation by 649.1% during the first quarter. JPMorgan Chase & Co. now owns 16,795 shares of the credit services provider’s stock worth $321,000 after purchasing an additional 14,553 shares during the period. Legal & General Group Plc boosted its position in Triangle Capital Corporation by 15.3% during the first quarter. Legal & General Group Plc now owns 98,176 shares of the credit services provider’s stock worth $1,873,000 after purchasing an additional 13,017 shares during the period. Morgan Stanley boosted its position in Triangle Capital Corporation by 3.3% during the first quarter. Morgan Stanley now owns 333,326 shares of the credit services provider’s stock worth $6,363,000 after purchasing an additional 10,678 shares during the period. Bank of America Corp DE boosted its position in Triangle Capital Corporation by 567.9% during the first quarter. Bank of America Corp DE now owns 169,483 shares of the credit services provider’s stock worth $3,236,000 after purchasing an additional 144,106 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Triangle Capital Corporation by 154.0% during the first quarter. Goldman Sachs Group Inc. now owns 69,597 shares of the credit services provider’s stock worth $1,329,000 after purchasing an additional 42,192 shares during the period. 33.84% of the stock is owned by institutional investors and hedge funds.

Triangle Capital Corporation Company Profile

Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.

Analyst Recommendations for Triangle Capital Corporation (NYSE:TCAP)

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