Ares Capital Corporation (NASDAQ:ARCC) Stock Rating Lowered by Zacks Investment Research

Ares Capital Corporation (NASDAQ:ARCC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday, November 6th.

According to Zacks, “ARES CAPITAL CORPORATION is a specialty finance company that is a closed-end, non-diversified management investment company. Ares Capital Corporation has elected to be regulated as a business development company under the Investment Company Act of 1940. Its investment objective is to generate both current income and capital appreciation through debt and equity investments. Ares Capital Corporation invests primarily in first and second lien senior loans and mezzanine debt, which in some cases includes an equity component, and, to a lesser extent, in equity investments in private U.S. middle market companies. “

A number of other research firms have also recently commented on ARCC. Jefferies Group LLC reiterated a “buy” rating and set a $19.50 price target on shares of Ares Capital Corporation in a report on Friday, November 3rd. BidaskClub cut shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. National Securities restated a “buy” rating and issued a $19.00 target price on shares of Ares Capital Corporation in a report on Monday, August 7th. Citigroup Inc. started coverage on shares of Ares Capital Corporation in a report on Wednesday, September 20th. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, Keefe, Bruyette & Woods set a $19.00 target price on shares of Ares Capital Corporation and gave the stock a “buy” rating in a report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Ares Capital Corporation currently has a consensus rating of “Buy” and an average price target of $18.06.

Shares of Ares Capital Corporation (ARCC) traded up $0.14 during midday trading on Monday, hitting $16.40. 1,683,272 shares of the company’s stock were exchanged, compared to its average volume of 1,858,135. Ares Capital Corporation has a fifty-two week low of $15.48 and a fifty-two week high of $17.87. The company has a market capitalization of $6,991.30, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 3.96 and a beta of 0.63. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.66.

Ares Capital Corporation (NASDAQ:ARCC) last announced its earnings results on Thursday, November 2nd. The investment management company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Ares Capital Corporation had a net margin of 45.78% and a return on equity of 8.60%. The business had revenue of $294.00 million during the quarter, compared to the consensus estimate of $295.02 million. During the same quarter last year, the firm earned $0.43 earnings per share. research analysts forecast that Ares Capital Corporation will post 1.38 earnings per share for the current year.

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In other Ares Capital Corporation news, Director Michael J. Arougheti bought 8,365 shares of Ares Capital Corporation stock in a transaction dated Friday, November 3rd. The shares were purchased at an average cost of $15.85 per share, for a total transaction of $132,585.25. Following the acquisition, the director now directly owns 937,054 shares in the company, valued at approximately $14,852,305.90. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders bought 8,965 shares of company stock worth $142,283. Insiders own 0.45% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Round Table Services LLC boosted its position in Ares Capital Corporation by 0.4% in the 2nd quarter. Round Table Services LLC now owns 10,225 shares of the investment management company’s stock valued at $167,000 after buying an additional 39 shares during the period. Alpha Omega Wealth Management LLC boosted its position in Ares Capital Corporation by 1.7% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 12,184 shares of the investment management company’s stock valued at $200,000 after buying an additional 199 shares during the period. Hudock Capital Group LLC boosted its position in Ares Capital Corporation by 3.2% in the 2nd quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock valued at $106,000 after buying an additional 200 shares during the period. Honkamp Krueger Financial Services Inc. boosted its position in Ares Capital Corporation by 2.0% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 13,472 shares of the investment management company’s stock valued at $221,000 after buying an additional 260 shares during the period. Finally, M&R Capital Management Inc. boosted its position in Ares Capital Corporation by 2.8% in the 2nd quarter. M&R Capital Management Inc. now owns 11,755 shares of the investment management company’s stock valued at $188,000 after buying an additional 320 shares during the period. 44.76% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Corporation Company Profile

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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Analyst Recommendations for Ares Capital Corporation (NASDAQ:ARCC)

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