Zacks: Analysts Anticipate Garrison Capital Inc (GARS) Will Announce Quarterly Sales of $8.98 Million

Wall Street analysts predict that Garrison Capital Inc (NASDAQ:GARS) will report $8.98 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Garrison Capital’s earnings, with the highest sales estimate coming in at $9.00 million and the lowest estimate coming in at $8.95 million. Garrison Capital reported sales of $9.65 million in the same quarter last year, which indicates a negative year-over-year growth rate of 6.9%. The business is expected to report its next quarterly earnings report after the market closes on Tuesday, March 6th.

According to Zacks, analysts expect that Garrison Capital will report full-year sales of $8.98 million for the current fiscal year, with estimates ranging from $35.88 million to $35.93 million. For the next year, analysts forecast that the company will report sales of $37.68 million per share, with estimates ranging from $36.58 million to $38.40 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Garrison Capital.

A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded Garrison Capital from a “strong sell” rating to a “hold” rating in a research report on Friday, December 29th. ValuEngine upgraded Garrison Capital from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. National Securities restated a “neutral” rating and issued a $10.00 price objective on shares of Garrison Capital in a report on Monday, November 13th. Finally, Maxim Group restated a “buy” rating and issued a $11.00 price objective on shares of Garrison Capital in a report on Thursday, November 9th. Six research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $10.13.

In other news, CEO Joseph Bertrand Tansey acquired 7,300 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were bought at an average price of $8.33 per share, for a total transaction of $60,809.00. Following the acquisition, the chief executive officer now owns 133,196 shares of the company’s stock, valued at approximately $1,109,522.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian S. Chase acquired 7,000 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was purchased at an average price of $8.17 per share, for a total transaction of $57,190.00. Following the acquisition, the chief financial officer now directly owns 59,135 shares in the company, valued at approximately $483,132.95. The disclosure for this purchase can be found here. Insiders acquired a total of 28,700 shares of company stock worth $239,382 in the last 90 days. 5.80% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in GARS. Goldman Sachs Group Inc. purchased a new position in Garrison Capital in the 2nd quarter valued at $129,000. OxFORD Asset Management LLP lifted its holdings in Garrison Capital by 56.1% in the 3rd quarter. OxFORD Asset Management LLP now owns 17,586 shares of the investment management company’s stock valued at $148,000 after purchasing an additional 6,321 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Garrison Capital in the 2nd quarter valued at $178,000. Millennium Management LLC lifted its holdings in Garrison Capital by 99.5% in the 4th quarter. Millennium Management LLC now owns 24,735 shares of the investment management company’s stock valued at $201,000 after purchasing an additional 12,335 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Garrison Capital by 18.0% during the 4th quarter. Two Sigma Advisers LP now owns 81,828 shares of the investment management company’s stock worth $664,000 after acquiring an additional 12,500 shares during the period. Institutional investors own 23.85% of the company’s stock.

Garrison Capital (NASDAQ:GARS) opened at $8.03 on Wednesday. Garrison Capital has a 52-week low of $7.77 and a 52-week high of $10.15. The stock has a market capitalization of $129.04, a P/E ratio of 24.33 and a beta of 0.23. The company has a debt-to-equity ratio of 1.07, a quick ratio of 10.29 and a current ratio of 10.29.

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About Garrison Capital

Garrison Capital Inc is a 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.

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