Brokerages Set Saratoga Investment Corp. (NYSE:SAR) Target Price at $26.75

Saratoga Investment Corp. (NYSE:SAR) has received a consensus recommendation of “Hold” from the five research firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $26.75.

Several equities analysts have recently commented on SAR shares. Compass Point cut shares of Saratoga Investment from a “buy” rating to a “neutral” rating and set a $24.75 price target on the stock. in a report on Wednesday, January 10th. StockNews.com upgraded Saratoga Investment from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. Finally, B. Riley downgraded Saratoga Investment from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a research note on Monday, January 8th.

Saratoga Investment Stock Performance

Shares of SAR opened at $22.95 on Friday. The company has a market capitalization of $313.27 million, a PE ratio of 11.83 and a beta of 1.32. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.07 and a current ratio of 0.07. The company’s 50 day moving average price is $23.17 and its 200 day moving average price is $24.12. Saratoga Investment has a 52 week low of $22.35 and a 52 week high of $28.87.

Saratoga Investment Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 12.72%. The ex-dividend date was Tuesday, March 12th. This is a positive change from Saratoga Investment’s previous quarterly dividend of $0.72. Saratoga Investment’s payout ratio is presently 150.52%.

Hedge Funds Weigh In On Saratoga Investment

Hedge funds have recently bought and sold shares of the business. Fairfield Bush & CO. acquired a new stake in shares of Saratoga Investment in the first quarter worth $27,000. Harbour Investments Inc. acquired a new position in Saratoga Investment during the 2nd quarter worth $27,000. C M Bidwell & Associates Ltd. bought a new stake in Saratoga Investment during the third quarter valued at about $36,000. Barclays PLC acquired a new stake in shares of Saratoga Investment in the third quarter valued at about $37,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Saratoga Investment in the first quarter valued at about $38,000. 19.09% of the stock is owned by institutional investors and hedge funds.

Saratoga Investment Company Profile

Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity.