UBS Group Cuts Ares Capital (NASDAQ:ARCC) Price Target to $21.00

Ares Capital (NASDAQ:ARCC) had its price target lowered by equities researchers at UBS Group from $22.00 to $21.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the investment management company’s stock. UBS Group’s price objective would suggest a potential upside of 2.94% from the stock’s previous close.

ARCC has been the subject of several other reports. JPMorgan Chase & Co. increased their target price on Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company cut their price target on shares of Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Keefe, Bruyette & Woods cut their target price on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Raymond James lowered Ares Capital from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. Finally, StockNews.com lowered Ares Capital from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.61.

Ares Capital Stock Up 1.5 %

ARCC opened at $20.40 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The business’s fifty day simple moving average is $21.85 and its 200 day simple moving average is $21.94. Ares Capital has a 52 week low of $18.26 and a 52 week high of $23.84. The stock has a market cap of $13.96 billion, a PE ratio of 8.33 and a beta of 0.77.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. As a group, research analysts expect that Ares Capital will post 2.19 earnings per share for the current fiscal year.

Institutional Trading of Ares Capital

A number of hedge funds have recently modified their holdings of ARCC. Sculati Wealth Management LLC boosted its stake in Ares Capital by 1.0% during the third quarter. Sculati Wealth Management LLC now owns 115,744 shares of the investment management company’s stock worth $2,410,000 after acquiring an additional 1,149 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of Ares Capital in the 3rd quarter worth approximately $252,000. Sfmg LLC grew its stake in shares of Ares Capital by 4.3% in the 3rd quarter. Sfmg LLC now owns 439,503 shares of the investment management company’s stock worth $9,203,000 after buying an additional 18,056 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in Ares Capital by 382.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 61,609 shares of the investment management company’s stock valued at $1,290,000 after buying an additional 48,848 shares in the last quarter. Finally, Tidal Investments LLC increased its position in Ares Capital by 6.2% during the 3rd quarter. Tidal Investments LLC now owns 63,385 shares of the investment management company’s stock valued at $1,327,000 after buying an additional 3,726 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

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.