BidaskClub Lowers Solar Capital (SLRC) to Hold

Solar Capital (NASDAQ:SLRC) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, March 22nd, BidAskClub reports.

A number of other research analysts have also commented on the company. Wells Fargo & Co upped their target price on Solar Capital from $18.00 to $19.00 and gave the company a “market perform” rating in a research note on Tuesday, February 26th. Zacks Investment Research cut Solar Capital from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. Oppenheimer began coverage on Solar Capital in a research report on Wednesday, November 28th. They issued a “buy” rating and a $23.00 price target on the stock. Finally, National Securities reiterated a “buy” rating and issued a $25.00 price target on shares of Solar Capital in a research report on Monday, February 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Solar Capital currently has a consensus rating of “Hold” and an average target price of $22.50.

Shares of SLRC stock traded down $0.08 during trading hours on Friday, reaching $21.36. 54,900 shares of the company’s stock were exchanged, compared to its average volume of 137,143. Solar Capital has a fifty-two week low of $18.45 and a fifty-two week high of $22.00. The firm has a market cap of $906.05 million, a PE ratio of 12.07, a price-to-earnings-growth ratio of 2.40 and a beta of 0.74. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Solar Capital (NASDAQ:SLRC) last issued its earnings results on Thursday, February 21st. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $38.24 million during the quarter, compared to analyst estimates of $37.46 million. Solar Capital had a return on equity of 8.10% and a net margin of 43.56%. As a group, equities analysts predict that Solar Capital will post 1.78 EPS for the current fiscal year.

In other Solar Capital news, insider Michael S. Gross bought 7,777 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $21.54 per share, for a total transaction of $167,516.58. Following the completion of the acquisition, the insider now owns 165,894 shares of the company’s stock, valued at $3,573,356.76. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Founders Capital Management acquired a new position in shares of Solar Capital during the fourth quarter valued at $29,000. Quantamental Technologies LLC acquired a new position in Solar Capital in the fourth quarter valued at about $44,000. Acadian Asset Management LLC acquired a new position in Solar Capital in the fourth quarter valued at about $111,000. Northern Trust Corp lifted its stake in Solar Capital by 6.3% in the fourth quarter. Northern Trust Corp now owns 10,566 shares of the financial services provider’s stock valued at $202,000 after buying an additional 624 shares during the period. Finally, Great West Life Assurance Co. Can lifted its stake in Solar Capital by 13.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 11,516 shares of the financial services provider’s stock valued at $214,000 after buying an additional 1,355 shares during the period. 58.04% of the stock is currently owned by institutional investors and hedge funds.

Solar Capital Company Profile

Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.

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