Ares Capital (NASDAQ:ARCC) Given New $22.00 Price Target at Wells Fargo & Company

Ares Capital (NASDAQ:ARCC - Get Free Report) had its target price dropped by analysts at Wells Fargo & Company from $23.00 to $22.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the investment management company's stock. Wells Fargo & Company's target price suggests a potential upside of 6.49% from the stock's current price.

Several other analysts also recently weighed in on the company. StockNews.com downgraded Ares Capital from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods cut their price target on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada raised their target price on Ares Capital from $23.00 to $24.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lowered their target price on Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, Raymond James cut shares of Ares Capital from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $22.22.

Ares Capital Trading Down 0.0 %

Shares of Ares Capital stock traded down $0.01 during trading on Monday, hitting $20.66. The stock had a trading volume of 5,089,556 shares, compared to its average volume of 4,119,782. Ares Capital has a 12 month low of $18.26 and a 12 month high of $23.84. The firm's fifty day simple moving average is $21.50 and its 200-day simple moving average is $21.94. The stock has a market cap of $14.14 billion, a PE ratio of 8.43 and a beta of 0.77. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.21.

Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The investment management company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). The firm had revenue of $599.00 million for the quarter, compared to the consensus estimate of $769.32 million. Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. The company's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $0.59 earnings per share. As a group, sell-side analysts expect that Ares Capital will post 2.19 EPS for the current fiscal year.

Institutional Trading of Ares Capital

A number of large investors have recently bought and sold shares of ARCC. Sculati Wealth Management LLC increased its stake in Ares Capital by 1.0% in the 3rd quarter. Sculati Wealth Management LLC now owns 115,744 shares of the investment management company's stock valued at $2,410,000 after buying an additional 1,149 shares during the period. World Investment Advisors LLC purchased a new stake in Ares Capital during the third quarter worth $252,000. Sfmg LLC increased its holdings in Ares Capital by 4.3% during the 3rd quarter. Sfmg LLC now owns 439,503 shares of the investment management company's stock valued at $9,203,000 after acquiring an additional 18,056 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Ares Capital by 382.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 61,609 shares of the investment management company's stock worth $1,290,000 after purchasing an additional 48,848 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Ares Capital by 6.2% in the third quarter. Tidal Investments LLC now owns 63,385 shares of the investment management company's stock valued at $1,327,000 after acquiring an additional 3,726 shares in the last quarter. Institutional investors and hedge funds 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.