Ares Capital Co. (NASDAQ:ARCC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Ares Capital Co. (NASDAQ:ARCCGet Rating) has received a consensus rating of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $21.71.

ARCC has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded Ares Capital from a “neutral” rating to an “overweight” rating and set a $22.00 price target for the company in a research report on Wednesday, April 27th. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Thursday, July 28th. Oppenheimer decreased their price objective on shares of Ares Capital to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Raymond James reissued a “maintains” rating on shares of Ares Capital in a research note on Wednesday, July 27th. Finally, Hovde Group decreased their price objective on shares of Ares Capital to $19.00 in a research note on Friday, May 20th.

Insider Activity

In related news, Director Steven B. Mckeever purchased 2,775 shares of the firm’s stock in a transaction dated Wednesday, June 15th. The stock was purchased at an average price of $17.95 per share, with a total value of $49,811.25. Following the completion of the purchase, the director now owns 44,944 shares of the company’s stock, valued at approximately $806,744.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ares Capital news, insider Michael Lewis Smith acquired 54,000 shares of Ares Capital stock in a transaction that occurred on Thursday, May 19th. The stock was bought at an average price of $18.64 per share, with a total value of $1,006,560.00. Following the completion of the purchase, the insider now directly owns 89,000 shares of the company’s stock, valued at approximately $1,658,960. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven B. Mckeever acquired 2,775 shares of Ares Capital stock in a transaction that occurred on Wednesday, June 15th. The stock was acquired at an average cost of $17.95 per share, with a total value of $49,811.25. Following the purchase, the director now directly owns 44,944 shares of the company’s stock, valued at $806,744.80. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 356,775 shares of company stock valued at $6,381,371. Corporate insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Ares Capital

A number of large investors have recently bought and sold shares of the business. Sierra Capital LLC raised its stake in Ares Capital by 0.3% in the fourth quarter. Sierra Capital LLC now owns 159,812 shares of the investment management company’s stock worth $3,386,000 after buying an additional 493 shares in the last quarter. Indie Asset Partners LLC raised its stake in Ares Capital by 4.1% in the fourth quarter. Indie Asset Partners LLC now owns 12,895 shares of the investment management company’s stock worth $273,000 after buying an additional 510 shares in the last quarter. Cutter & CO Brokerage Inc. raised its stake in Ares Capital by 0.9% in the second quarter. Cutter & CO Brokerage Inc. now owns 65,111 shares of the investment management company’s stock worth $1,167,000 after buying an additional 559 shares in the last quarter. Private Wealth Strategies L.L.C. grew its holdings in Ares Capital by 2.1% in the first quarter. Private Wealth Strategies L.L.C. now owns 27,105 shares of the investment management company’s stock worth $568,000 after purchasing an additional 568 shares during the last quarter. Finally, Merriman Wealth Management LLC grew its holdings in Ares Capital by 2.4% in the second quarter. Merriman Wealth Management LLC now owns 25,417 shares of the investment management company’s stock worth $456,000 after purchasing an additional 588 shares during the last quarter. Institutional investors own 29.44% of the company’s stock.

Ares Capital Trading Down 0.1 %

ARCC opened at $19.66 on Thursday. The firm has a market cap of $9.76 billion, a P/E ratio of 8.90 and a beta of 0.99. Ares Capital has a 12 month low of $17.03 and a 12 month high of $23.00. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.26. The stock has a 50-day moving average of $18.91 and a 200 day moving average of $20.24.

Ares Capital (NASDAQ:ARCCGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The investment management company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. Ares Capital had a return on equity of 10.15% and a net margin of 54.92%. During the same period last year, the company earned $0.53 earnings per share. As a group, research analysts forecast that Ares Capital will post 1.85 EPS for the current year.

About Ares Capital

(Get Rating)

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.

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Analyst Recommendations for Ares Capital (NASDAQ:ARCC)

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