Zacks Investment Research Upgrades Garrison Capital (NASDAQ:GARS) to Hold

Garrison Capital (NASDAQ:GARS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Garrison Capital Inc. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of the United States-based middle-market companies, which it defines as those having annual earnings before interest, taxes and depreciation, or EBITDA of certain amount. It invests or provides direct lending in first lien senior secured loans, second lien senior secured loans, one-stop senior secured loans or unitranche loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies. The Company intends to generate risk-adjusted net returns by assembling a portfolio of investments. The Company’s investments include debt investments, preferred and minority equity investments (equity) of diversified companies and a portfolio of unsecured small balance consumer loans. “

Other equities analysts have also issued reports about the company. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. National Securities lowered Garrison Capital from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $10.00 to $8.00 in a report on Tuesday, May 14th. Finally, TheStreet raised Secureworks from a “d+” rating to a “c-” rating in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $9.33.

NASDAQ GARS traded up $0.01 on Tuesday, hitting $7.00. 10,700 shares of the stock traded hands, compared to its average volume of 33,864. The stock’s fifty day simple moving average is $6.94. Garrison Capital has a 12 month low of $6.03 and a 12 month high of $8.84. The company has a market cap of $112.19 million, a price-to-earnings ratio of 6.93 and a beta of 0.59. The company has a debt-to-equity ratio of 2.03, a current ratio of 3.83 and a quick ratio of 3.83.

Garrison Capital (NASDAQ:GARS) last announced its quarterly earnings data on Tuesday, May 7th. The investment management company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). Garrison Capital had a negative net margin of 3.06% and a positive return on equity of 8.29%. The firm had revenue of $10.23 million for the quarter, compared to the consensus estimate of $10.75 million. On average, analysts forecast that Garrison Capital will post 0.88 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Garrison Capital stock. Squarepoint Ops LLC purchased a new position in Garrison Capital Inc (NASDAQ:GARS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,836 shares of the investment management company’s stock, valued at approximately $76,000. Squarepoint Ops LLC owned 0.07% of Garrison Capital at the end of the most recent reporting period. Hedge funds and other institutional investors own 25.61% of the company’s stock.

About Garrison Capital

Garrison Capital Inc is a business development company specializing in investments primarily in the debt and equity of middle market companies. It seeks to invest in first lien senior secured loans, second lien senior secured loans, “one-stop” senior secured or “unitranche” loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies, warrants and minority equity securities in United States middle-market companies.

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