Ares Capital Corporation (ARCC) Rating Lowered to Strong Sell at BidaskClub

Ares Capital Corporation (NASDAQ:ARCC) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Tuesday, August 8th.

Several other analysts have also commented on ARCC. BMO Capital Markets reaffirmed a “hold” rating and set a $15.00 target price on shares of Ares Capital Corporation in a report on Tuesday, April 11th. Janney Montgomery Scott reissued a “neutral” rating on shares of Ares Capital Corporation in a report on Friday, May 5th. National Securities raised Ares Capital Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the company from $18.00 to $19.00 in a report on Monday, May 8th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $18.50 price objective on shares of Ares Capital Corporation in a report on Friday, June 16th. Finally, TheStreet downgraded Ares Capital Corporation from a “b” rating to a “c+” rating in a research report on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Ares Capital Corporation presently has a consensus rating of “Hold” and a consensus price target of $18.06.

Ares Capital Corporation (NASDAQ ARCC) opened at 15.85 on Tuesday. The company’s 50 day moving average price is $16.36 and its 200-day moving average price is $16.92. Ares Capital Corporation has a 52 week low of $15.01 and a 52 week high of $17.87.

Ares Capital Corporation (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.02. Ares Capital Corporation had a return on equity of 8.95% and a net margin of 44.61%. The firm had revenue of $284 million during the quarter, compared to analysts’ expectations of $297.77 million. During the same quarter in the previous year, the business earned $0.50 earnings per share. On average, analysts expect that Ares Capital Corporation will post $1.40 EPS for the current year.

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Several large investors have recently added to or reduced their stakes in ARCC. Penserra Capital Management LLC boosted its stake in Ares Capital Corporation by 16.2% in the first quarter. Penserra Capital Management LLC now owns 5,913 shares of the investment management company’s stock worth $102,000 after buying an additional 825 shares in the last quarter. Hudock Capital Group LLC boosted its stake in Ares Capital Corporation by 3.2% in the second quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock worth $106,000 after buying an additional 200 shares in the last quarter. Coconut Grove Bank boosted its stake in Ares Capital Corporation by 366.2% in the first quarter. Coconut Grove Bank now owns 6,480 shares of the investment management company’s stock worth $113,000 after buying an additional 5,090 shares in the last quarter. Ffcm LLC boosted its stake in Ares Capital Corporation by 218.9% in the second quarter. Ffcm LLC now owns 6,840 shares of the investment management company’s stock worth $113,000 after buying an additional 4,695 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Ares Capital Corporation during the fourth quarter worth $130,000. Institutional investors and hedge funds own 49.53% of the company’s stock.

Ares Capital Corporation Company Profile

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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