Ares Capital (NASDAQ:ARCC) Given a $19.00 Price Target by BMO Capital Markets Analysts

BMO Capital Markets set a $19.00 price objective on Ares Capital (NASDAQ:ARCC) in a report issued on Wednesday, TipRanks reports. The firm currently has a hold rating on the investment management company’s stock.

A number of other analysts have also weighed in on the stock. Raymond James increased their price objective on shares of Ares Capital from $19.00 to $19.50 and gave the stock an outperform rating in a research note on Wednesday. Zacks Investment Research lowered shares of Ares Capital from a buy rating to a hold rating in a research note on Tuesday, April 16th. Wedbush set a $20.00 price objective on shares of Ares Capital and gave the stock a buy rating in a research note on Tuesday, May 14th. BidaskClub upgraded shares of Ares Capital from a sell rating to a hold rating in a research note on Thursday. Finally, National Securities restated a buy rating and set a $20.00 price target on shares of Ares Capital in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Ares Capital currently has an average rating of Buy and an average target price of $19.25.

Ares Capital stock traded up $0.12 during mid-day trading on Wednesday, reaching $18.44. 1,485,178 shares of the company traded hands, compared to its average volume of 1,811,400. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.84. Ares Capital has a fifty-two week low of $14.50 and a fifty-two week high of $18.83. The firm has a market capitalization of $7.81 billion, a P/E ratio of 10.98 and a beta of 0.63. The company has a fifty day moving average price of $18.08.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.05. The firm had revenue of $382.00 million for the quarter, compared to analyst estimates of $363.60 million. Ares Capital had a net margin of 59.58% and a return on equity of 10.12%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 earnings per share. Research analysts anticipate that Ares Capital will post 1.84 EPS for the current year.

In related news, Director Steven B. Mckeever acquired 5,640 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were acquired at an average cost of $17.52 per share, with a total value of $98,812.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bates Ann Torre acquired 9,725 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were bought at an average cost of $17.61 per share, for a total transaction of $171,257.25. Following the completion of the acquisition, the director now owns 24,000 shares of the company’s stock, valued at $422,640. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 26,265 shares of company stock worth $468,909. 0.53% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ARCC. Cottage Street Advisors LLC lifted its stake in shares of Ares Capital by 0.8% in the second quarter. Cottage Street Advisors LLC now owns 199,079 shares of the investment management company’s stock worth $3,571,000 after buying an additional 1,591 shares in the last quarter. Institute for Wealth Management LLC. lifted its stake in shares of Ares Capital by 1.9% in the second quarter. Institute for Wealth Management LLC. now owns 48,576 shares of the investment management company’s stock worth $871,000 after buying an additional 902 shares in the last quarter. Capital Wealth Planning LLC purchased a new position in shares of Ares Capital in the second quarter worth about $221,000. Cullen Frost Bankers Inc. lifted its stake in shares of Ares Capital by 57.8% in the second quarter. Cullen Frost Bankers Inc. now owns 86,559 shares of the investment management company’s stock worth $1,552,000 after buying an additional 31,702 shares in the last quarter. Finally, Sigma Planning Corp lifted its stake in shares of Ares Capital by 11.5% in the second quarter. Sigma Planning Corp now owns 105,663 shares of the investment management company’s stock worth $1,896,000 after buying an additional 10,860 shares in the last quarter. 37.48% of the stock is currently owned by institutional investors and hedge funds.

About Ares Capital

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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