Carlyle Secured Lending (NASDAQ:CGBD) Raised to "Overweight" 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.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) was upgraded by stock analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a report released on Friday,Finviz reports. The firm presently has a $15.00 target price on the stock. Wells Fargo & Company's price target indicates a potential upside of 6.72% from the stock's previous close.

CGBD has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price objective on shares of Carlyle Secured Lending from $17.00 to $14.00 and set an "underweight" rating on the stock in a research note on Thursday, April 24th. Oppenheimer cut their price objective on shares of Carlyle Secured Lending from $17.00 to $15.00 and set a "market perform" rating on the stock in a research note on Thursday, May 8th. Raymond James Financial started coverage on shares of Carlyle Secured Lending in a research note on Thursday, July 17th. They issued a "market perform" rating on the stock. Finally, B. Riley raised shares of Carlyle Secured Lending to a "hold" rating in a report on Monday, June 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $15.25.

Carlyle Secured Lending Trading Up 0.7%

Shares of Carlyle Secured Lending stock opened at $14.06 on Friday. The company has a current ratio of 3.55, a quick ratio of 3.55 and a debt-to-equity ratio of 1.03. Carlyle Secured Lending has a 12-month low of $13.12 and a 12-month high of $18.64. The firm has a market capitalization of $716.20 million, a price-to-earnings ratio of 10.41 and a beta of 0.85. The firm's 50 day simple moving average is $13.96 and its two-hundred day simple moving average is $15.61.

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

Institutional Trading of Carlyle Secured Lending

A number of hedge funds have recently added to or reduced their stakes in CGBD. Raymond James Financial Inc. purchased a new stake in Carlyle Secured Lending during the fourth quarter worth $3,223,000. JPMorgan Chase & Co. lifted its holdings in Carlyle Secured Lending by 37.8% during the fourth quarter. JPMorgan Chase & Co. now owns 29,629 shares of the company's stock valued at $531,000 after purchasing an additional 8,129 shares in the last quarter. Trexquant Investment LP lifted its holdings in Carlyle Secured Lending by 25.3% during the fourth quarter. Trexquant Investment LP now owns 69,850 shares of the company's stock valued at $1,252,000 after purchasing an additional 14,120 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Carlyle Secured Lending by 10.0% during the fourth quarter. Wells Fargo & Company MN now owns 31,778 shares of the company's stock valued at $570,000 after purchasing an additional 2,893 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Carlyle Secured Lending by 1,449.1% during the fourth quarter. Invesco Ltd. now owns 659,564 shares of the company's stock valued at $11,826,000 after purchasing an additional 616,988 shares in the last quarter. 24.51% of the stock is owned by hedge funds and other institutional investors.

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.

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