Ares Capital Corp. Stock Rating Upgraded by Zacks (ARCC)
Ares Capital Corp. (NASDAQ:ARCC) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Monday, Analyst Ratings Network.com reports. The firm currently has a $18.80 price objective on the stock. Zacks‘ target price would indicate a potential upside of 4.85% from the stock’s previous close.
Separately, analysts at BMO Capital Markets cut their price target on shares of Ares Capital Corp. from $19.00 to $18.00 in a research note to investors on Tuesday, November 5th. They now have a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Ares Capital Corp. currently has an average rating of “Hold” and a consensus target price of $18.54.
Ares Capital Corp. (NASDAQ:ARCC) traded up 0.79% on Monday, hitting $17.93. The stock had a trading volume of 2,701,884 shares. Ares Capital Corp. has a 52-week low of $16.15 and a 52-week high of $18.67. The stock has a 50-day moving average of $17.79 and a 200-day moving average of $17.55.
Ares Capital Corp. (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.40 by $0.08. During the same quarter in the prior year, the company posted $0.42 earnings per share. On average, analysts predict that Ares Capital Corp. will post $1.64 earnings per share for the current fiscal year.
Ares Capital Corporation (NASDAQ:ARCC) is a specialty finance company, which is a closed-end, non-diversified management investment company.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.