SunTrust Banks Reiterates Buy Rating for Apollo Investment (AINV)

Apollo Investment (NASDAQ:AINV)‘s stock had its “buy” rating reissued by stock analysts at SunTrust Banks in a research note issued on Thursday, February 8th. They currently have a $6.50 price target on the asset manager’s stock. SunTrust Banks’ target price would suggest a potential upside of 19.05% from the company’s previous close. SunTrust Banks also issued estimates for Apollo Investment’s Q2 2019 earnings at $0.16 EPS and Q3 2019 earnings at $0.16 EPS.

Several other equities analysts have also weighed in on the stock. ValuEngine upgraded shares of Apollo Investment from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Raymond James Financial upgraded shares of Apollo Investment from a “market perform” rating to an “outperform” rating and set a $7.00 price objective on the stock in a report on Tuesday, November 7th. TheStreet upgraded shares of Apollo Investment from a “c” rating to a “b-” rating in a report on Thursday, November 16th. BidaskClub upgraded shares of Apollo Investment from a “strong sell” rating to a “sell” rating in a report on Thursday, December 21st. Finally, National Securities restated a “neutral” rating and issued a $6.00 price objective on shares of Apollo Investment in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.38.

Shares of Apollo Investment (NASDAQ:AINV) traded down $0.02 during mid-day trading on Thursday, hitting $5.46. 875,900 shares of the stock were exchanged, compared to its average volume of 990,229. Apollo Investment has a 12 month low of $5.30 and a 12 month high of $6.82. The firm has a market capitalization of $1,190.00, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.76 and a beta of 0.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.43 and a quick ratio of 0.43.

Apollo Investment (NASDAQ:AINV) last announced its earnings results on Wednesday, February 7th. The asset manager reported $0.16 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.16. Apollo Investment had a net margin of 28.18% and a return on equity of 9.45%. The company had revenue of $64.75 million for the quarter, compared to analyst estimates of $65.94 million. During the same period in the prior year, the business earned $0.17 earnings per share. Apollo Investment’s quarterly revenue was down 4.9% on a year-over-year basis. equities research analysts anticipate that Apollo Investment will post 0.62 earnings per share for the current year.

A number of large investors have recently modified their holdings of AINV. Rhumbline Advisers increased its stake in Apollo Investment by 0.3% in the second quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock valued at $107,000 after purchasing an additional 58 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Apollo Investment during the third quarter worth $108,000. HighTower Advisors LLC increased its position in shares of Apollo Investment by 8.8% during the second quarter. HighTower Advisors LLC now owns 17,884 shares of the asset manager’s stock worth $115,000 after acquiring an additional 1,451 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Apollo Investment by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 18,016 shares of the asset manager’s stock worth $115,000 after acquiring an additional 168 shares in the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. bought a new stake in shares of Apollo Investment during the fourth quarter worth $156,000. 46.77% of the stock is owned by hedge funds and other institutional investors.

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About Apollo Investment

Apollo Investment Corporation is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation. It invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments and/or equity in private middle-market companies.

Analyst Recommendations for Apollo Investment (NASDAQ:AINV)

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