Ares Capital Corporation (ARCC) Earns “Buy” Rating from Jefferies Group LLC

Ares Capital Corporation (NASDAQ:ARCC)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Group LLC in a research report issued to clients and investors on Friday, November 3rd. They presently have a $19.50 target price on the investment management company’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 20.22% from the company’s previous close. Jefferies Group also issued estimates for Ares Capital Corporation’s Q2 2018 earnings at $0.38 EPS, Q3 2018 earnings at $0.39 EPS, Q4 2018 earnings at $0.40 EPS and FY2018 earnings at $1.55 EPS.

Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. BidaskClub downgraded shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. National Securities reaffirmed a “buy” rating and set a $19.00 price target on shares of Ares Capital Corporation in a research note on Monday, August 7th. Citigroup Inc. started coverage on shares of Ares Capital Corporation in a research note on Wednesday, September 20th. They issued an “outperform” rating and a $18.00 price objective for the company. Finally, Keefe, Bruyette & Woods set a $19.00 price objective on shares of Ares Capital Corporation and gave the stock a “buy” rating in a research note on Friday, October 6th. 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 has a consensus rating of “Buy” and an average price target of $18.06.

Ares Capital Corporation (NASDAQ:ARCC) traded up $0.02 on Friday, reaching $16.22. The company had a trading volume of 1,194,400 shares, compared to its average volume of 2,086,752. The stock has a market capitalization of $6,910.00, a price-to-earnings ratio of 11.25, a P/E/G ratio of 3.91 and a beta of 0.63. Ares Capital Corporation has a 12 month low of $15.38 and a 12 month high of $17.87. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.66.

Ares Capital Corporation (NASDAQ:ARCC) last released its quarterly earnings results on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Ares Capital Corporation had a return on equity of 8.60% and a net margin of 45.78%. The company had revenue of $294.00 million during the quarter, compared to analyst estimates of $295.02 million. During the same quarter last year, the business posted $0.43 earnings per share. analysts predict that Ares Capital Corporation will post 1.38 earnings per share for the current year.

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In other news, Director Michael J. Arougheti acquired 8,365 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was acquired at an average price of $15.85 per share, for a total transaction of $132,585.25. Following the completion of the transaction, the director now owns 937,054 shares in the company, valued at approximately $14,852,305.90. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders acquired 8,965 shares of company stock worth $142,283. 0.45% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Beacon Investment Advisory Services Inc. acquired a new position in shares of Ares Capital Corporation during the 3rd quarter worth about $203,000. Jane Street Group LLC raised its position in shares of Ares Capital Corporation by 201.4% during the 3rd quarter. Jane Street Group LLC now owns 31,624 shares of the investment management company’s stock worth $518,000 after purchasing an additional 21,132 shares during the last quarter. Penn Mutual Life Insurance Co raised its position in shares of Ares Capital Corporation by 33.3% during the 3rd quarter. Penn Mutual Life Insurance Co now owns 653,000 shares of the investment management company’s stock worth $10,703,000 after purchasing an additional 163,000 shares during the last quarter. Maltese Capital Management LLC raised its position in shares of Ares Capital Corporation by 32.2% during the 3rd quarter. Maltese Capital Management LLC now owns 550,000 shares of the investment management company’s stock worth $9,015,000 after purchasing an additional 134,100 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC raised its position in shares of Ares Capital Corporation by 2.6% during the 3rd quarter. Pinkerton Retirement Specialists LLC now owns 168,337 shares of the investment management company’s stock worth $2,766,000 after purchasing an additional 4,253 shares during the last quarter. Hedge funds and other institutional investors own 44.76% of the company’s stock.

About Ares Capital Corporation

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.

Analyst Recommendations for Ares Capital Corporation (NASDAQ:ARCC)

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