Blackrock Tcp Capital (NASDAQ:TCPC) Stock Price Target Raised at Wells Fargo & Company

Key Points

• Wells Fargo raised its TCPC price target to $4.50 from $4.00 while maintaining an “equal weight” rating, implying 6.33% potential upside.
• Analyst sentiment remains cautious: MarketBeat reports an average “Reduce” rating and a $4.25 average price target, with three Hold ratings and one Sell rating.
• TCPC reported quarterly EPS of $0.15, beating the $0.12 consensus, and revenue of $28.48 million, above expectations of $27.51 million.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) had its target price lifted by stock analysts at Wells Fargo & Company from $4.00 to $4.50 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the investment management company's stock. Wells Fargo & Company's price target would suggest a potential upside of 6.33% from the stock's current price.

A number of other equities research analysts also recently weighed in on TCPC. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Blackrock Tcp Capital in a report on Friday, August 28th. Keefe, Bruyette & Woods raised Blackrock Tcp Capital from an "underperform" rating to a "market perform" rating and boosted their price target for the stock from $3.50 to $4.00 in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $4.25.

Blackrock Tcp Capital Price Performance

Shares of Blackrock Tcp Capital stock traded down $0.07 on Monday, reaching $4.23. 94,347 shares of the stock were exchanged, compared to its average volume of 934,146. The firm's 50 day moving average is $4.07 and its 200-day moving average is $3.99. Blackrock Tcp Capital has a one year low of $3.08 and a one year high of $6.25. The company has a debt-to-equity ratio of 0.69, a quick ratio of 30.46 and a current ratio of 30.47. The firm has a market cap of $355.08 million, a PE ratio of -1.77 and a beta of 0.98.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The investment management company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.03. Blackrock Tcp Capital had a negative net margin of 128.77% and a positive return on equity of 12.86%. The business had revenue of $28.48 million for the quarter, compared to analysts' expectations of $27.51 million. As a group, analysts anticipate that Blackrock Tcp Capital will post 0.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Blackrock Tcp Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Next Capital Management LLC bought a new position in shares of Blackrock Tcp Capital in the 2nd quarter valued at $10,518,000. Bank of America Corp DE boosted its holdings in shares of Blackrock Tcp Capital by 230.1% during the 2nd quarter. Bank of America Corp DE now owns 398,785 shares of the investment management company's stock valued at $1,340,000 after acquiring an additional 277,993 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Blackrock Tcp Capital by 26.8% during the 2nd quarter. Van ECK Associates Corp now owns 2,096,604 shares of the investment management company's stock valued at $7,045,000 after acquiring an additional 442,735 shares in the last quarter. BlackRock Inc. bought a new stake in Blackrock Tcp Capital during the 2nd quarter worth $1,540,000. Finally, Legal & General Group Plc bought a new stake in Blackrock Tcp Capital during the 2nd quarter worth $2,245,000.

About Blackrock Tcp Capital

BlackRock TCP Capital Corp. NASDAQ: TCPC is a business development company that provides financing to middle-market companies. The company primarily invests in privately negotiated senior secured loans, subordinated debt and other debt securities, while also making select equity investments. Its portfolio companies operate across a range of industries.

The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in established businesses that may require financing for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.