Ares Capital Co. (ARCC) Receives Average Rating of “Buy” from Analysts

Shares of Ares Capital Co. (NASDAQ:ARCC) have been given an average rating of “Buy” by the fifteen analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $18.00.

Several equities analysts have recently commented on ARCC shares. Jefferies Group reaffirmed a “buy” rating and issued a $19.50 target price on shares of Ares Capital in a research report on Friday, November 3rd. Zacks Investment Research downgraded Ares Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Citigroup started coverage on Ares Capital in a research report on Wednesday, September 20th. They issued an “outperform” rating and a $18.00 target price on the stock. Keefe, Bruyette & Woods set a $19.00 target price on Ares Capital and gave the company a “buy” rating in a research report on Friday, October 6th. Finally, Wedbush started coverage on Ares Capital in a research report on Monday, November 27th. They issued an “outperform” rating and a $18.00 target price on the stock.

In related news, Director Michael J. Arougheti purchased 8,365 shares of Ares Capital stock in a transaction that occurred on Friday, November 3rd. The shares were acquired at an average price of $15.85 per share, with a total value of $132,585.25. Following the completion of the transaction, the director now directly owns 937,054 shares of the company’s stock, valued at approximately $14,852,305.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 8,965 shares of company stock worth $142,323 in the last three months. 0.45% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Shelton Capital Management lifted its stake in Ares Capital by 84.3% during the third quarter. Shelton Capital Management now owns 171,641 shares of the investment management company’s stock worth $2,813,000 after purchasing an additional 78,500 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in Ares Capital by 91.5% during the third quarter. Chicago Partners Investment Group LLC now owns 221,263 shares of the investment management company’s stock worth $3,626,000 after purchasing an additional 105,751 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Ares Capital during the third quarter worth $191,000. Public Employees Retirement System of Ohio lifted its stake in Ares Capital by 23.5% during the third quarter. Public Employees Retirement System of Ohio now owns 267,800 shares of the investment management company’s stock worth $4,389,000 after purchasing an additional 50,900 shares during the last quarter. Finally, Delphi Management Inc. MA lifted its stake in Ares Capital by 4.8% during the third quarter. Delphi Management Inc. MA now owns 149,863 shares of the investment management company’s stock worth $2,456,000 after purchasing an additional 6,823 shares during the last quarter. Hedge funds and other institutional investors own 43.70% of the company’s stock.

Ares Capital (NASDAQ ARCC) traded up $0.01 during trading on Friday, hitting $16.51. The stock had a trading volume of 2,529,283 shares, compared to its average volume of 2,040,041. Ares Capital has a 52 week low of $15.48 and a 52 week high of $17.87. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $7,040.00, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 3.98 and a beta of 0.63.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. Ares Capital had a return on equity of 8.60% and a net margin of 45.78%. The company had revenue of $294.00 million for the quarter, compared to the consensus estimate of $295.02 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. sell-side analysts predict that Ares Capital will post 1.38 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 9.21%. The ex-dividend date is Thursday, December 14th. Ares Capital’s dividend payout ratio is currently 120.63%.

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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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