Bank of America Lowers Crescent Capital BDC (NASDAQ:CCAP) Price Target to $19.00

Crescent Capital BDC (NASDAQ:CCAP) had its price target decreased by equities researchers at Bank of America from $20.00 to $19.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 5.50% from the company’s current price.

Several other research analysts also recently weighed in on CCAP. Wells Fargo & Company dropped their target price on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday. Keefe, Bruyette & Woods raised their price objective on Crescent Capital BDC from $18.50 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Finally, Raymond James boosted their target price on Crescent Capital BDC from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

Crescent Capital BDC Stock Up 1.1 %

CCAP stock traded up $0.19 during trading on Thursday, hitting $18.01. 122,736 shares of the stock traded hands, compared to its average volume of 142,373. The firm’s 50 day moving average is $18.74 and its two-hundred day moving average is $17.73. Crescent Capital BDC has a 1 year low of $15.03 and a 1 year high of $19.63. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market cap of $667.49 million, a price-to-earnings ratio of 6.43 and a beta of 0.81.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Crescent Capital BDC had a net margin of 53.32% and a return on equity of 11.99%. The company had revenue of $48.95 million for the quarter, compared to the consensus estimate of $48.05 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. On average, sell-side analysts anticipate that Crescent Capital BDC will post 2.34 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CCAP. Sun Life Financial Inc. lifted its holdings in shares of Crescent Capital BDC by 8.1% in the 2nd quarter. Sun Life Financial Inc. now owns 1,843,766 shares of the company’s stock worth $34,626,000 after buying an additional 137,684 shares during the period. Relative Value Partners Group LLC raised its stake in Crescent Capital BDC by 2.1% in the fourth quarter. Relative Value Partners Group LLC now owns 383,121 shares of the company’s stock worth $6,659,000 after buying an additional 7,834 shares in the last quarter. Millennium Management LLC lifted its holdings in Crescent Capital BDC by 31.9% during the second quarter. Millennium Management LLC now owns 268,097 shares of the company’s stock worth $5,035,000 after buying an additional 64,902 shares during the period. Condor Capital Management boosted its position in Crescent Capital BDC by 12.4% during the 2nd quarter. Condor Capital Management now owns 252,121 shares of the company’s stock valued at $4,735,000 after acquiring an additional 27,801 shares in the last quarter. Finally, Mckinley Capital Management LLC increased its holdings in shares of Crescent Capital BDC by 59.0% in the 4th quarter. Mckinley Capital Management LLC now owns 92,910 shares of the company’s stock valued at $1,615,000 after acquiring an additional 34,489 shares during the period. Institutional investors own 49.46% of the company’s stock.

About Crescent Capital BDC

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.