Carlyle Secured Lending (NASDAQ:CGBD) Upgraded at Wells Fargo & Company

Key Points

• Carlyle Secured Lending has been upgraded from "equal weight" to "overweight" by Wells Fargo & Company, with a target price set at $15.00.
• The upgrade suggests a potential upside of 6.72% from the stock's previous close.
• Other analysts have mixed ratings on the stock, with some downgrading their price targets and ratings, leading to an average rating of "Hold."
• Carlyle Secured Lending has reported earnings of $0.41 per share, missing expectations, with a current average target price of $15.25.

Wells Fargo & Company upgraded shares of Carlyle Secured Lending (NASDAQ:CGBD - Free Report) from an equal weight rating to an overweight rating in a research report released on Friday, MarketBeat.com reports. The firm currently has $15.00 price target on the stock, up from their previous price target of $13.00.

A number of other research firms have also weighed in on CGBD. Oppenheimer dropped their price target on shares of Carlyle Secured Lending from $17.00 to $15.00 and set a "market perform" rating for the company in a research report on Thursday, May 8th. Raymond James Financial assumed coverage on shares of Carlyle Secured Lending in a research report on Thursday, July 17th. They issued a "market perform" rating for the company. JPMorgan Chase & Co. dropped their price target on shares of Carlyle Secured Lending from $17.00 to $14.00 and set an "underweight" rating for the company in a research report on Thursday, April 24th. Finally, B. Riley upgraded shares of Carlyle Secured Lending to a "hold" rating in a research report on Monday, June 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Carlyle Secured Lending has a consensus rating of "Hold" and an average price target of $15.25.

Carlyle Secured Lending Stock Performance

NASDAQ:CGBD traded up $0.16 during mid-day trading on Friday, hitting $14.14. 249,214 shares of the company traded hands, compared to its average volume of 338,381. The stock's fifty day moving average price is $13.96 and its 200-day moving average price is $15.52. Carlyle Secured Lending has a one year low of $13.12 and a one year high of $18.64. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of 1.03. The firm has a market cap of $720.57 million, a price-to-earnings ratio of 10.47 and a beta of 0.85.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Carlyle Secured Lending had a net margin of 32.72% and a return on equity of 10.49%. The company had revenue of $54.60 million for the quarter, compared to the consensus estimate of $55.50 million. Research analysts anticipate that Carlyle Secured Lending will post 1.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carlyle Secured Lending

Hedge funds and other institutional investors have recently modified their holdings of the stock. AdvisorNet Financial Inc boosted its position in shares of Carlyle Secured Lending by 81,343.8% during the first quarter. AdvisorNet Financial Inc now owns 26,062 shares of the company's stock worth $422,000 after acquiring an additional 26,030 shares during the last quarter. Round Rock Advisors LLC lifted its position in shares of Carlyle Secured Lending by 146.6% in the first quarter. Round Rock Advisors LLC now owns 45,800 shares of the company's stock worth $741,000 after buying an additional 27,230 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Carlyle Secured Lending in the fourth quarter worth about $3,223,000. Bank of America Corp DE lifted its position in shares of Carlyle Secured Lending by 3.8% in the fourth quarter. Bank of America Corp DE now owns 1,192,606 shares of the company's stock worth $21,383,000 after buying an additional 44,033 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of Carlyle Secured Lending by 859.5% in the fourth quarter. Comerica Bank now owns 88,445 shares of the company's stock worth $1,586,000 after buying an additional 79,227 shares in the last quarter. Institutional investors own 24.51% of the company's stock.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector.