Ares Capital (NASDAQ:ARCC) Stock Rating Upgraded by Wells Fargo & Company

Ares Capital (NASDAQ:ARCC) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report issued on Monday, MarketBeat reports. The brokerage currently has a $23.00 target price on the investment management company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 3.70% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. B. Riley raised their price objective on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a research report on Monday, August 5th. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, UBS Group upgraded Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.29.

Ares Capital Stock Up 0.4 %

Shares of NASDAQ ARCC opened at $22.18 on Monday. Ares Capital has a 52 week low of $19.32 and a 52 week high of $22.30. The business has a 50-day simple moving average of $21.41 and a two-hundred day simple moving average of $21.08. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. The company has a market cap of $14.33 billion, a P/E ratio of 8.53 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $770.45 million. During the same period in the previous year, the business earned $0.59 EPS. The business’s revenue was up 15.3% on a year-over-year basis. Research analysts anticipate that Ares Capital will post 2.36 earnings per share for the current fiscal year.

Institutional Trading of Ares Capital

Hedge funds have recently bought and sold shares of the stock. Jamison Private Wealth Management Inc. lifted its stake in shares of Ares Capital by 62.7% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 475 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in shares of Ares Capital by 1.6% during the 2nd quarter. Capital Investment Advisors LLC now owns 32,691 shares of the investment management company’s stock worth $681,000 after acquiring an additional 499 shares during the last quarter. JBR Co Financial Management Inc lifted its stake in shares of Ares Capital by 1.5% during the 3rd quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock worth $692,000 after acquiring an additional 500 shares during the last quarter. Onyx Bridge Wealth Group LLC lifted its stake in shares of Ares Capital by 1.2% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock worth $913,000 after acquiring an additional 531 shares during the last quarter. Finally, Centaurus Financial Inc. lifted its stake in shares of Ares Capital by 3.9% during the 2nd quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock worth $301,000 after acquiring an additional 542 shares during 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.