BlackRock TCP Capital (NASDAQ:TCPC) Upgraded to Buy by Zacks Investment Research

BlackRock TCP Capital (NASDAQ:TCPCGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday, Zacks.com reports. The firm currently has a $15.00 price target on the investment management company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 7.68% from the company’s previous close.

According to Zacks, “BlackRock TCP Capital Corp. is an externally-managed non-diversified closed-end management investment company. It focused on middle-market lending. BlackRock TCP Capital Corp., formerly known as TCP Capital Corp., is headquartered in Santa Monica, CA. “

Separately, StockNews.com assumed coverage on BlackRock TCP Capital in a report on Thursday, March 31st. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $14.92.

Shares of NASDAQ:TCPC opened at $13.93 on Friday. The company has a market cap of $804.74 million, a P/E ratio of 7.26, a PEG ratio of 0.89 and a beta of 1.50. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.45 and a current ratio of 1.45. BlackRock TCP Capital has a one year low of $12.71 and a one year high of $15.05. The business’s 50-day simple moving average is $13.99 and its 200 day simple moving average is $13.81.

BlackRock TCP Capital (NASDAQ:TCPCGet Rating) last announced its earnings results on Wednesday, May 4th. The investment management company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. BlackRock TCP Capital had a return on equity of 8.99% and a net margin of 66.68%. During the same quarter in the prior year, the company posted $0.32 EPS. Analysts predict that BlackRock TCP Capital will post 1.31 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. increased its holdings in shares of BlackRock TCP Capital by 0.7% in the 4th quarter. Invesco Ltd. now owns 1,046,404 shares of the investment management company’s stock valued at $14,137,000 after acquiring an additional 7,572 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of BlackRock TCP Capital by 7.8% in the 4th quarter. Van ECK Associates Corp now owns 938,475 shares of the investment management company’s stock valued at $12,678,000 after acquiring an additional 67,718 shares during the last quarter. Confluence Investment Management LLC increased its holdings in shares of BlackRock TCP Capital by 0.4% in the 1st quarter. Confluence Investment Management LLC now owns 421,767 shares of the investment management company’s stock valued at $6,032,000 after acquiring an additional 1,571 shares during the last quarter. BlackRock Inc. boosted its position in BlackRock TCP Capital by 15.1% during the 4th quarter. BlackRock Inc. now owns 408,804 shares of the investment management company’s stock valued at $5,523,000 after purchasing an additional 53,635 shares during the period. Finally, Ares Management LLC boosted its position in BlackRock TCP Capital by 59.9% during the 4th quarter. Ares Management LLC now owns 367,689 shares of the investment management company’s stock valued at $4,967,000 after purchasing an additional 137,681 shares during the period. Institutional investors and hedge funds own 24.89% of the company’s stock.

BlackRock TCP Capital Company Profile (Get Rating)

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.

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