PennantPark Floating Rate Capital (NYSE:PFLT) Stock Rating Upgraded by Keefe, Bruyette & Woods

PennantPark Floating Rate Capital (NYSE:PFLT) was upgraded by stock analysts at Keefe, Bruyette & Woods from a “hold” rating to a “moderate buy” rating in a note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has a $10.50 target price on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 18.64% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Weiss Ratings reissued a “hold (c)” rating on shares of PennantPark Floating Rate Capital in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

PennantPark Floating Rate Capital Stock Performance

NYSE:PFLT opened at $8.85 on Monday. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $878.10 million, a price-to-earnings ratio of 7.50 and a beta of 0.97. PennantPark Floating Rate Capital has a 12 month low of $8.69 and a 12 month high of $11.90.

About PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.