Ares Capital (ARCC) Stock Rating Lowered by Zacks Investment Research

Ares Capital (NASDAQ:ARCC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “ARES CAPITAL CORPORATION is a specialty finance company that is a closed-end, non-diversified management investment company. Ares Capital Corporation has elected to be regulated as a business development company under the Investment Company Act of 1940. Its investment objective is to generate both current income and capital appreciation through debt and equity investments. Ares Capital Corporation invests primarily in first and second lien senior loans and mezzanine debt, which in some cases includes an equity component, and, to a lesser extent, in equity investments in private U.S. middle market companies. “

Several other research analysts have also commented on the company. BidaskClub upgraded Ares Capital from a “strong sell” rating to a “sell” rating in a research report on Monday. TheStreet upgraded Ares Capital from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. Compass Point began coverage on Ares Capital in a report on Wednesday, December 6th. They issued a “buy” rating and a $17.50 target price for the company. Wedbush began coverage on Ares Capital in a report on Monday, November 27th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, National Securities reiterated a “buy” rating and issued a $19.00 target price on shares of Ares Capital in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $18.00.

Ares Capital (NASDAQ:ARCC) traded up $0.23 on Wednesday, hitting $15.76. The stock had a trading volume of 2,791,596 shares, compared to its average volume of 2,000,000. Ares Capital has a 1-year low of $15.03 and a 1-year high of $17.87. The stock has a market capitalization of $6,720.00, a price-to-earnings ratio of 12.51, a P/E/G ratio of 3.30 and a beta of 0.62. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.29 and a current ratio of 1.29.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Alpha Windward LLC lifted its holdings in Ares Capital by 4,144.7% during the 3rd quarter. Alpha Windward LLC now owns 29,925 shares of the investment management company’s stock worth $490,000 after buying an additional 29,220 shares during the last quarter. Summit X LLC lifted its holdings in Ares Capital by 61.8% during the 3rd quarter. Summit X LLC now owns 19,270 shares of the investment management company’s stock worth $315,000 after buying an additional 7,360 shares during the last quarter. Intl Fcstone Inc. purchased a new stake in Ares Capital during the 2nd quarter worth about $1,084,000. IFC Holdings Incorporated FL purchased a new stake in Ares Capital during the 3rd quarter worth about $677,000. Finally, Boston Partners lifted its holdings in Ares Capital by 29.5% during the 3rd quarter. Boston Partners now owns 468,278 shares of the investment management company’s stock worth $7,675,000 after buying an additional 106,713 shares during the last quarter. 43.47% of the stock is owned by institutional investors.

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About Ares Capital

Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.

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