Apollo Investment Corp. Upgraded by Keefe, Bruyette & Woods to “Outperform” (AINV)
Apollo Investment Corp. (NASDAQ:AINV) was upgraded by Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $9.50 price objective on the stock, up from their previous price objective of $9.00. Keefe, Bruyette & Woods’ price target indicates a potential upside of 11.37% from the stock’s previous close.
The analysts wrote, “We are upgrading the shares of AINV to Outperform, as we believe the shares offer an attractive relative valuation to the group. We believe AINV will have stable earnings even if the BDC group remains under pressure and significant earnings coverage of the dividend, which provides good stability for the 9.4% dividend yield. We are raising our target price to $9.50 from $9.00 resulting in a 20% total return. AINV goes ex-dividend on June 18, with investors receiving a $0.20 quarterly dividend.”
AINV has been the subject of a number of other recent research reports. Analysts at SunTrust reiterated a “neutral” rating on shares of Apollo Investment Corp. in a research note on Wednesday, May 21st. They now have a $8.50 price target on the stock. Separately, analysts at JMP Securities upgraded shares of Apollo Investment Corp. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 21st. They now have a $9.00 price target on the stock, up previously from $8.06. Finally, analysts at Barclays upgraded shares of Apollo Investment Corp. from an “equal weight” rating to an “overweight” rating in a research note on Monday, May 5th. They now have a $9.00 price target on the stock. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Apollo Investment Corp. currently has a consensus rating of “Buy” and a consensus target price of $8.92.
Apollo Investment Corp. (NASDAQ:AINV) opened at 8.53 on Tuesday. Apollo Investment Corp. has a 52-week low of $7.28 and a 52-week high of $9.21. The stock’s 50-day moving average is $8.17 and its 200-day moving average is $8.44.
Apollo Investment Corp. (NASDAQ:AINV) last announced its earnings results on Tuesday, May 20th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.01. During the same quarter last year, the company posted $0.21 earnings per share. Analysts expect that Apollo Investment Corp. will post $0.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, July 7th. Investors of record on Friday, June 20th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 9.38%. The ex-dividend date of this dividend is Wednesday, June 18th.
Apollo Investment Corporation (NASDAQ:AINV) is a closed-end, non-diversified management investment company that has elected to be treated as a business development company (BDC).
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