Main Street Capital (MAIN) Upgraded to Buy at Zacks Investment Research

Main Street Capital (NYSE:MAIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm currently has a $44.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.73% from the company’s current price.

According to Zacks, “Main Street Capital Corporation is a specialty investment company providing customized financing solutions to lower middle market companies which operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides one stop financing alternatives to its portfolio companies. “

A number of other research firms have also issued reports on MAIN. BidaskClub lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, October 7th. National Securities reissued a “sell” rating and set a $33.00 price target on shares of Main Street Capital in a research report on Monday, November 6th. Finally, Raymond James Financial raised shares of Main Street Capital from an “underperform” rating to a “market perform” rating in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $38.82.

Shares of Main Street Capital (MAIN) traded down $0.23 during trading on Friday, hitting $39.38. 332,545 shares of the company traded hands, compared to its average volume of 211,586. The stock has a market cap of $2,240.00, a price-to-earnings ratio of 13.92 and a beta of 1.04. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.20. Main Street Capital has a 52-week low of $35.25 and a 52-week high of $41.79.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The firm had revenue of $51.79 million during the quarter, compared to analyst estimates of $50.89 million. Main Street Capital had a net margin of 79.87% and a return on equity of 10.14%. Main Street Capital’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $0.58 EPS. analysts anticipate that Main Street Capital will post 2.33 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC purchased a new position in shares of Main Street Capital during the 2nd quarter valued at approximately $119,000. JPMorgan Chase & Co. increased its holdings in shares of Main Street Capital by 59.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,648 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 1,727 shares in the last quarter. Good Life Advisors LLC purchased a new position in shares of Main Street Capital during the 3rd quarter valued at approximately $203,000. GSA Capital Partners LLP purchased a new position in shares of Main Street Capital during the 3rd quarter valued at approximately $208,000. Finally, Stifel Financial Corp purchased a new position in shares of Main Street Capital during the 2nd quarter valued at approximately $231,000. 27.05% of the stock is owned by institutional investors.

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Main Street Capital Company Profile

Main Street Capital Corporation (MSCC) is a principal investment firm. MSCC’s principal investment objective is to maximize its portfolio’s total return by generating current income from the Company’s debt investments and capital appreciation from its equity and equity related investments, including warrants, convertible securities and other rights to acquire equity securities in a portfolio company.

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