Ares Capital (NASDAQ:ARCC) Price Target Raised to $22.00

Ares Capital (NASDAQ:ARCC) had its price target lifted by research analysts at B. Riley from $21.00 to $22.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the investment management company’s stock. B. Riley’s price objective would indicate a potential upside of 3.68% from the stock’s previous close.

Several other analysts have also recently weighed in on ARCC. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. UBS Group raised shares of Ares Capital to a “hold” rating in a report on Friday, August 23rd. JMP Securities raised their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.86.

Ares Capital Stock Down 0.6 %

Shares of ARCC traded down $0.12 during mid-day trading on Thursday, hitting $21.22. 1,765,990 shares of the company’s stock were exchanged, compared to its average volume of 3,362,086. The stock’s 50-day moving average is $21.00 and its 200-day moving average is $20.94. The company has a market cap of $13.38 billion, a price-to-earnings ratio of 7.27 and a beta of 1.01. Ares Capital has a fifty-two week low of $18.86 and a fifty-two week high of $22.05. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.40 and a current ratio of 1.40.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $770.45 million. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. On average, sell-side analysts anticipate that Ares Capital will post 2.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ares Capital

A number of institutional investors and hedge funds have recently bought and sold shares of ARCC. Jamison Private Wealth Management Inc. raised its position in shares of Ares Capital by 62.7% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 475 shares in the last quarter. Asset Dedication LLC acquired a new stake in shares of Ares Capital during the 2nd quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Ares Capital during the 2nd quarter valued at approximately $32,000. nVerses Capital LLC raised its position in shares of Ares Capital by 88.9% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock valued at $35,000 after acquiring an additional 800 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Ares Capital during the 2nd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Company Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.