Fifth Street Finance Corp. (OCSL) Upgraded to Buy by Zacks Investment Research
Fifth Street Finance Corp. (NASDAQ:OCSL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $6.50 target price on the credit services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 13.24% from the company’s previous close.
According to Zacks, “Oaktree Specialty Lending Corporation is a specialty finance company. It provides customized, one-stop credit solutions to companies with limited access to public or syndicated capital markets. The company generates current income and capital appreciation by providing companies with flexible and innovative financing solutions including first and second lien loans, unsecured and mezzanine loans and preferred equity. Oaktree Specialty Lending Corporation, formerly known as Fifth Street Finance Corp., is based in CA, United States. “
A number of other research analysts have also issued reports on the company. ValuEngine upgraded Fifth Street Finance Corp. from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Deutsche Bank AG upgraded Fifth Street Finance Corp. from a “hold” rating to a “buy” rating and boosted their price target for the stock from $4.75 to $6.00 in a research report on Tuesday, July 18th. J P Morgan Chase & Co boosted their price target on Fifth Street Finance Corp. from $5.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 1st. BidaskClub lowered Fifth Street Finance Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $4.00 price target on shares of Fifth Street Finance Corp. in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $5.88.
Fifth Street Finance Corp. (OCSL) opened at $5.74 on Tuesday. Fifth Street Finance Corp. has a 12-month low of $3.90 and a 12-month high of $5.91. The stock has a market capitalization of $809.11, a P/E ratio of 9.41, a P/E/G ratio of 2.15 and a beta of 0.12. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.44 and a current ratio of 0.44.
Fifth Street Finance Corp. (NASDAQ:OCSL) last released its quarterly earnings data on Wednesday, August 9th. The credit services provider reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. Fifth Street Finance Corp. had a positive return on equity of 8.27% and a negative net margin of 37.21%. The business had revenue of $44.92 million during the quarter, compared to analyst estimates of $43.35 million. equities analysts forecast that Fifth Street Finance Corp. will post 0.56 earnings per share for the current fiscal year.
In other news, CEO Bernard D. Berman sold 20,000 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $5.43, for a total transaction of $108,600.00. Following the sale, the chief executive officer now directly owns 35,968 shares of the company’s stock, valued at $195,306.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Leonard M. Tannenbaum sold 1,409,606 shares of the business’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $5.56, for a total value of $7,837,409.36. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.
Fifth Street Finance Corp. Company Profile
Oaktree Specialty Lending Corporation, formerly Fifth Street Finance Corp., is a specialty finance company. The Company is a closed-end, non-diversified management investment company. The Company acts as a business development company (BDC). The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments, and capital appreciation from its equity investments.
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