Ares Capital (NASDAQ:ARCC) Price Target Raised to $22.00

Ares Capital (NASDAQ:ARCC - Get Free Report) had its price objective boosted by stock analysts at Wells Fargo & Company from $21.00 to $22.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the investment management company's stock. Wells Fargo & Company's target price points to a potential upside of 0.47% from the stock's previous close.

Other equities research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods dropped their price target on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Royal Bank Of Canada decreased their price target on Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price target on Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. B. Riley upgraded Ares Capital to a "hold" rating in a report on Monday, June 16th. Finally, UBS Group lowered their target price on Ares Capital from $22.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

Ares Capital Stock Performance

Shares of ARCC stock opened at $21.90 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.40 and a quick ratio of 1.40. The business has a fifty day moving average of $21.45 and a 200 day moving average of $21.91. The firm has a market capitalization of $15.20 billion, a price-to-earnings ratio of 10.70 and a beta of 0.68. Ares Capital has a 1 year low of $18.26 and a 1 year high of $23.84.

Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its quarterly 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 company had revenue of $599.00 million during the quarter, compared to analysts' expectations of $769.32 million. Ares Capital had a net margin of 43.50% and a return on equity of 11.05%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 earnings per share. As a group, research analysts expect that Ares Capital will post 2.19 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in shares of Ares Capital by 12.3% in the 4th quarter. Bank of America Corp DE now owns 7,951,926 shares of the investment management company's stock valued at $174,068,000 after purchasing an additional 871,370 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Ares Capital by 26.0% in the 4th quarter. JPMorgan Chase & Co. now owns 4,268,547 shares of the investment management company's stock valued at $93,439,000 after buying an additional 881,450 shares during the period. Generali Asset Management SPA SGR acquired a new stake in shares of Ares Capital in the 4th quarter worth $84,426,000. Advisors Capital Management LLC increased its stake in shares of Ares Capital by 3.0% during the first quarter. Advisors Capital Management LLC now owns 3,627,990 shares of the investment management company's stock worth $80,396,000 after acquiring an additional 104,339 shares during the period. Finally, LPL Financial LLC raised its holdings in Ares Capital by 9.0% during the first quarter. LPL Financial LLC now owns 3,567,816 shares of the investment management company's stock worth $79,063,000 after purchasing an additional 293,442 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.