Garrison Capital Inc. (NASDAQ:GARS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $9.50 price target on the investment management company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.37% from the stock’s previous close.

According to Zacks, “Garrison Capital Inc. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of the United States-based middle-market companies, which it defines as those having annual earnings before interest, taxes and depreciation, or EBITDA of certain amount. It invests or provides direct lending in first lien senior secured loans, second lien senior secured loans, one-stop senior secured loans or unitranche loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies. The Company intends to generate risk-adjusted net returns by assembling a portfolio of investments. The Company’s investments include debt investments, preferred and minority equity investments (equity) of diversified companies and a portfolio of unsecured small balance consumer loans. “

Other equities analysts also recently issued reports about the company. ValuEngine raised Garrison Capital from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. National Securities reissued a “neutral” rating and set a $10.00 target price on shares of Garrison Capital in a research note on Monday, August 14th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Garrison Capital presently has an average rating of “Hold” and a consensus price target of $10.00.

Garrison Capital (GARS) traded down 0.53% during mid-day trading on Tuesday, reaching $8.38. The company had a trading volume of 13,681 shares. Garrison Capital has a 12 month low of $7.77 and a 12 month high of $10.15. The firm’s 50 day moving average price is $8.44 and its 200-day moving average price is $8.62.

Garrison Capital (NASDAQ:GARS) last issued its earnings results on Tuesday, August 8th. The investment management company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $9.03 million during the quarter, compared to the consensus estimate of $9.08 million. Garrison Capital had a positive return on equity of 8.33% and a negative net margin of 0.38%. On average, analysts predict that Garrison Capital will post $1.10 EPS for the current year.

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In related news, CFO Brian S. Chase bought 4,000 shares of the stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $8.07 per share, for a total transaction of $32,280.00. Following the acquisition, the chief financial officer now owns 46,135 shares in the company, valued at $372,309.45. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders purchased 8,000 shares of company stock worth $65,190. Insiders own 5.80% of the company’s stock.

A number of large investors have recently made changes to their positions in GARS. Goldman Sachs Group Inc. purchased a new position in shares of Garrison Capital during the 2nd quarter worth $129,000. Alpine Woods Capital Investors LLC lifted its stake in shares of Garrison Capital by 81.8% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 20,000 shares of the investment management company’s stock worth $165,000 after purchasing an additional 9,000 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Garrison Capital during the 2nd quarter worth $178,000. Stephens Inc. AR lifted its stake in shares of Garrison Capital by 40.1% during the 2nd quarter. Stephens Inc. AR now owns 30,274 shares of the investment management company’s stock worth $250,000 after purchasing an additional 8,667 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Garrison Capital by 35.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 53,727 shares of the investment management company’s stock worth $444,000 after purchasing an additional 14,093 shares during the period. Hedge funds and other institutional investors own 21.97% of the company’s stock.

About Garrison Capital

Garrison Capital Inc is a managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of the United States-based middle-market companies, which it defines as those having annual earnings before interest, taxes and depreciation, or EBITDA, of certain amount.

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Analyst Recommendations for Garrison Capital (NASDAQ:GARS)

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