Ares Capital (NASDAQ:ARCC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “ARES CAPITAL CORPORATION is a specialty finance company that is a closed-end, non-diversified management investment company. Ares Capital Corporation has elected to be regulated as a business development company under the Investment Company Act of 1940. Its investment objective is to generate both current income and capital appreciation through debt and equity investments. Ares Capital Corporation invests primarily in first and second lien senior loans and mezzanine debt, which in some cases includes an equity component, and, to a lesser extent, in equity investments in private U.S. middle market companies. “

Other equities research analysts also recently issued reports about the stock. Wedbush assumed coverage on shares of Ares Capital in a research note on Monday, November 27th. They issued an “outperform” rating and a $18.00 price target on the stock. Citigroup assumed coverage on shares of Ares Capital in a research note on Wednesday, September 20th. They issued an “outperform” rating and a $18.00 price target on the stock. TheStreet raised shares of Ares Capital from a “c+” rating to a “b-” rating in a research note on Tuesday, December 12th. National Securities reissued a “buy” rating and issued a $19.00 price target on shares of Ares Capital in a research note on Friday, November 3rd. Finally, CIBC assumed coverage on shares of Ares Capital in a research note on Thursday, September 21st. They issued an “outperform” rating and a $18.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Ares Capital has an average rating of “Buy” and a consensus target price of $18.00.

Shares of Ares Capital (NASDAQ ARCC) traded down $0.01 during mid-day trading on Monday, reaching $15.79. 1,621,800 shares of the company’s stock were exchanged, compared to its average volume of 1,902,375. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.66. Ares Capital has a one year low of $15.60 and a one year high of $17.87. The stock has a market capitalization of $6,750.00, a P/E ratio of 12.53, a PEG ratio of 3.36 and a beta of 0.63.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. The company had revenue of $294.00 million for the quarter, compared to the consensus estimate of $295.02 million. During the same period in the previous year, the firm earned $0.43 earnings per share. analysts anticipate that Ares Capital will post 1.38 earnings per share for the current fiscal year.

In related news, Director Michael J. Arougheti bought 8,365 shares of the stock in a transaction dated Friday, November 3rd. The stock was acquired at an average price of $15.85 per share, for a total transaction of $132,585.25. Following the acquisition, the director now owns 937,054 shares in the company, valued at approximately $14,852,305.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders bought 8,965 shares of company stock valued at $142,315. Company insiders own 0.45% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ARCC. Oppenheimer & Co. Inc. raised its position in Ares Capital by 12.8% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 13,284 shares of the investment management company’s stock worth $217,000 after buying an additional 1,506 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Ares Capital by 70.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 21,746 shares of the investment management company’s stock worth $356,000 after buying an additional 8,974 shares during the last quarter. Atlantic Trust Group LLC raised its position in Ares Capital by 16.0% during the 2nd quarter. Atlantic Trust Group LLC now owns 42,515 shares of the investment management company’s stock worth $697,000 after buying an additional 5,872 shares during the last quarter. LSV Asset Management raised its position in Ares Capital by 8.2% during the 2nd quarter. LSV Asset Management now owns 608,450 shares of the investment management company’s stock worth $9,966,000 after buying an additional 46,100 shares during the last quarter. Finally, Schroder Investment Management Group raised its position in Ares Capital by 7.7% during the 2nd quarter. Schroder Investment Management Group now owns 1,406,936 shares of the investment management company’s stock worth $22,891,000 after buying an additional 100,004 shares during the last quarter. Hedge funds and other institutional investors own 43.60% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was posted by Daily Political and is the sole property of of Daily Political. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of international trademark and copyright laws. The original version of this piece can be viewed at https://www.dailypolitical.com/2018/01/08/ares-capital-arcc-upgraded-to-hold-at-zacks-investment-research.html.

About Ares Capital

Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.

Get a free copy of the Zacks research report on Ares Capital (ARCC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Ares Capital (NASDAQ:ARCC)

Receive News & Ratings for Ares Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Capital and related companies with MarketBeat.com's FREE daily email newsletter.