Triangle Capital Corporation (NYSE:TCAP) was downgraded by stock analysts at Bank of America Corporation from a “buy” rating to an “underperform” rating in a research report issued to clients and investors on Thursday, The Fly reports.

Other analysts also recently issued reports about the company. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Triangle Capital Corporation in a research note on Tuesday, October 17th. Hilliard Lyons raised Triangle Capital Corporation from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Wednesday, October 18th. Jefferies Group LLC reissued a “buy” rating and issued a $18.00 price objective (down from $23.00) on shares of Triangle Capital Corporation in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods downgraded Triangle Capital Corporation from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $20.50 to $18.00 in a research note on Thursday, August 3rd. Finally, BidaskClub downgraded Triangle Capital Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $17.86.

Triangle Capital Corporation (NYSE:TCAP) last issued its quarterly earnings data on Wednesday, November 1st. The credit services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.05). The company had revenue of $29.88 million during the quarter, compared to analysts’ expectations of $32.84 million. Triangle Capital Corporation had a return on equity of 10.51% and a net margin of 16.92%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share.

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Institutional investors and hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Triangle Capital Corporation by 32.4% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 410,008 shares of the credit services provider’s stock valued at $5,854,000 after acquiring an additional 100,378 shares during the last quarter. BB&T Securities LLC increased its position in shares of Triangle Capital Corporation by 74.5% during the second quarter. BB&T Securities LLC now owns 157,181 shares of the credit services provider’s stock valued at $2,770,000 after acquiring an additional 67,097 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Triangle Capital Corporation by 649.1% during the first quarter. JPMorgan Chase & Co. now owns 16,795 shares of the credit services provider’s stock valued at $321,000 after acquiring an additional 14,553 shares during the last quarter. Ares Management LLC increased its position in shares of Triangle Capital Corporation by 26.1% during the second quarter. Ares Management LLC now owns 405,456 shares of the credit services provider’s stock valued at $714,413,000 after acquiring an additional 83,876 shares during the last quarter. Finally, First Personal Financial Services purchased a new stake in shares of Triangle Capital Corporation during the second quarter valued at approximately $1,908,000. 31.39% of the stock is owned by institutional investors.

About Triangle Capital Corporation

Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.

The Fly

Analyst Recommendations for Triangle Capital Corporation (NYSE:TCAP)

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