Ares Capital (NASDAQ:ARCC) Cut to Market Perform at Raymond James

Ares Capital (NASDAQ:ARCC) was downgraded by Raymond James from an “outperform” rating to a “market perform” rating in a report released on Thursday, MarketBeat Ratings reports.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company increased their target price on Ares Capital from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. B. Riley increased their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.94.

Ares Capital Trading Up 0.0 %

NASDAQ ARCC opened at $22.74 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $14.69 billion, a P/E ratio of 8.75 and a beta of 1.01. The firm’s 50-day moving average is $22.40 and its two-hundred day moving average is $21.53. Ares Capital has a 12 month low of $19.32 and a 12 month high of $23.84.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. On average, sell-side analysts anticipate that Ares Capital will post 2.36 earnings per share for the current year.

Institutional Trading of Ares Capital

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of Ares Capital in the 4th quarter valued at about $519,000. Round Rock Advisors LLC purchased a new stake in Ares Capital during the fourth quarter worth approximately $1,512,000. Chicago Partners Investment Group LLC boosted its holdings in Ares Capital by 5.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 507,374 shares of the investment management company’s stock valued at $11,208,000 after purchasing an additional 25,347 shares in the last quarter. Franklin Resources Inc. increased its stake in Ares Capital by 24.3% in the third quarter. Franklin Resources Inc. now owns 650,163 shares of the investment management company’s stock valued at $13,900,000 after purchasing an additional 127,219 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Ares Capital by 4.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 885,406 shares of the investment management company’s stock worth $18,540,000 after purchasing an additional 38,559 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Company Profile

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.