Ares Capital Corporation (ARCC) Downgraded by TheStreet

Ares Capital Corporation (NASDAQ:ARCC) was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating in a research report issued on Monday.

Several other analysts also recently issued reports on ARCC. BidaskClub downgraded Ares Capital Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Jefferies Group LLC restated a “buy” rating and issued a $19.50 price objective on shares of Ares Capital Corporation in a research report on Friday, November 3rd. Zacks Investment Research downgraded Ares Capital Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. National Securities restated a “buy” rating and issued a $19.00 price objective on shares of Ares Capital Corporation in a research report on Monday, August 7th. Finally, Keefe, Bruyette & Woods set a $19.00 price objective on Ares Capital Corporation and gave the company a “buy” rating in a research report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $18.06.

Shares of Ares Capital Corporation (NASDAQ:ARCC) opened at $16.17 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 1.29. Ares Capital Corporation has a 12-month low of $15.38 and a 12-month high of $17.87. The stock has a market capitalization of $6,914.57, a price-to-earnings ratio of 11.26, a PEG ratio of 3.92 and a beta of 0.63.

Ares Capital Corporation (NASDAQ:ARCC) last issued its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.36 earnings per share (EPS) for the quarter, beating 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 business had revenue of $294.00 million for the quarter, compared to the consensus estimate of $295.02 million. During the same period in the prior year, the business earned $0.43 earnings per share. sell-side analysts anticipate that Ares Capital Corporation will post 1.38 EPS for the current fiscal year.

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In other Ares Capital Corporation news, Director Michael J. Arougheti bought 8,365 shares of Ares Capital Corporation stock in a transaction that occurred on Friday, November 3rd. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $14,852,305.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 8,965 shares of company stock worth $142,283 over the last quarter. 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 stock. Vaughan Nelson Investment Management L.P. lifted its position in Ares Capital Corporation by 1.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 5,970,937 shares of the investment management company’s stock worth $97,864,000 after buying an additional 93,695 shares during the period. Principal Financial Group Inc. lifted its position in Ares Capital Corporation by 1.6% during the third quarter. Principal Financial Group Inc. now owns 5,815,313 shares of the investment management company’s stock worth $95,312,000 after buying an additional 89,967 shares during the period. Ameriprise Financial Inc. lifted its position in Ares Capital Corporation by 4.3% during the third quarter. Ameriprise Financial Inc. now owns 5,732,052 shares of the investment management company’s stock worth $93,986,000 after buying an additional 236,468 shares during the period. State of New Jersey Common Pension Fund D lifted its position in Ares Capital Corporation by 12.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 3,600,000 shares of the investment management company’s stock worth $59,004,000 after buying an additional 400,000 shares during the period. Finally, Yorktown Management & Research Co Inc lifted its position in Ares Capital Corporation by 3.6% during the third quarter. Yorktown Management & Research Co Inc now owns 2,330,000 shares of the investment management company’s stock worth $38,189,000 after buying an additional 80,000 shares during the period. Hedge funds and other institutional investors own 44.76% of the company’s stock.

Ares Capital Corporation Company Profile

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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