Ares Capital (NASDAQ:ARCC) Upgraded by Wall Street Zen to Hold Rating

Ares Capital (NASDAQ:ARCC) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $19.00 price target (down from $20.00) on shares of Ares Capital in a research report on Friday, June 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday, June 9th. JPMorgan Chase & Co. cut their price objective on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Finally, Truist Financial decreased their target price on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Ares Capital Stock Performance

ARCC opened at $18.78 on Friday. The business has a fifty day simple moving average of $18.66 and a 200 day simple moving average of $18.97. The company has a market capitalization of $13.48 billion, a PE ratio of 11.52 and a beta of 0.56. Ares Capital has a 1 year low of $17.40 and a 1 year high of $23.15. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.40 and a quick ratio of 1.40.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $763.00 million during the quarter, compared to analyst estimates of $778.00 million. Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 earnings per share. Research analysts expect that Ares Capital will post 1.9 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ARCC. Palladiem LLC bought a new stake in Ares Capital during the fourth quarter worth $26,000. SWAN Capital LLC bought a new position in shares of Ares Capital in the 3rd quarter valued at $27,000. Sankala Group LLC bought a new position in shares of Ares Capital in the 4th quarter valued at $28,000. Core Wealth Advisors LLC acquired a new position in shares of Ares Capital during the 4th quarter worth $33,000. Finally, Quarry LP acquired a new position in shares of Ares Capital during the 3rd quarter worth $33,000. 27.38% of the stock is owned by institutional investors.

About Ares Capital

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.