Blackrock Tcp Capital (NASDAQ:TCPC) Upgraded by Zacks Research to “Strong-Buy” Rating

Blackrock Tcp Capital (NASDAQ:TCPC) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other brokerages also recently weighed in on TCPC. Weiss Ratings reiterated a “sell (d+)” rating on shares of Blackrock Tcp Capital in a research report on Monday, December 29th. Wells Fargo & Company lowered their target price on shares of Blackrock Tcp Capital from $6.00 to $5.50 and set an “underweight” rating for the company in a research note on Monday, November 10th. Finally, Wall Street Zen raised shares of Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research report on Sunday, November 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Blackrock Tcp Capital presently has a consensus rating of “Hold” and a consensus target price of $6.50.

Blackrock Tcp Capital Stock Down 2.0%

NASDAQ:TCPC opened at $5.38 on Tuesday. The company has a quick ratio of 14.55, a current ratio of 14.55 and a debt-to-equity ratio of 1.42. Blackrock Tcp Capital has a 12-month low of $5.29 and a 12-month high of $9.48. The stock’s fifty day simple moving average is $5.72 and its 200-day simple moving average is $6.48. The firm has a market capitalization of $456.44 million, a P/E ratio of -41.38 and a beta of 0.89.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its quarterly earnings data on Thursday, November 6th. The investment management company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Blackrock Tcp Capital had a negative net margin of 4.20% and a positive return on equity of 15.27%. The company had revenue of $50.52 million during the quarter, compared to the consensus estimate of $51.01 million. Equities research analysts expect that Blackrock Tcp Capital will post 1.65 earnings per share for the current year.

Institutional Investors Weigh In On Blackrock Tcp Capital

Several large investors have recently made changes to their positions in TCPC. Nomura Asset Management Co. Ltd. bought a new stake in Blackrock Tcp Capital in the 2nd quarter valued at $30,000. State of Alaska Department of Revenue acquired a new stake in shares of Blackrock Tcp Capital in the 3rd quarter valued at about $25,000. MTM Investment Management LLC bought a new stake in shares of Blackrock Tcp Capital in the second quarter valued at about $46,000. CIBC Bancorp USA Inc. acquired a new position in shares of Blackrock Tcp Capital during the third quarter worth about $65,000. Finally, Creative Planning acquired a new position in shares of Blackrock Tcp Capital during the second quarter worth about $85,000.

Blackrock Tcp Capital Company Profile

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.