Oppenheimer Lowers Saratoga Investment (NYSE:SAR) Price Target to $21.00

Key Points

• Oppenheimer cut its price target on Saratoga Investment from $22 to $21 while keeping a market perform rating. The new target still implies about 16.2% upside from the prior close.
• Saratoga Investment’s latest earnings missed expectations, with quarterly EPS of $0.47 versus the $0.54 consensus. Revenue also came in well below estimates at ($12.15) million versus $31.38 million expected.
• Analyst sentiment remains cautious overall: six analysts rate the stock Hold, and the consensus price target is $22.00. The shares were trading near $18.07, close to their 12-month low of $17.77.

Saratoga Investment (NYSE:SAR - Get Free Report) had its price objective reduced by equities research analysts at Oppenheimer from $22.00 to $21.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "market perform" rating on the financial services provider's stock. Oppenheimer's target price indicates a potential upside of 16.21% from the company's previous close.

A number of other analysts have also weighed in on SAR. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Saratoga Investment in a report on Wednesday, June 24th. Wall Street Zen lowered shares of Saratoga Investment from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Saratoga Investment presently has an average rating of "Hold" and a consensus price target of $22.00.

Saratoga Investment Stock Up 0.5%

SAR stock opened at $18.07 on Thursday. The stock has a 50-day simple moving average of $22.21 and a two-hundred day simple moving average of $22.67. Saratoga Investment has a twelve month low of $17.77 and a twelve month high of $25.64. The firm has a market capitalization of $294.02 million, a PE ratio of 18.08 and a beta of 0.54. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.18.

Saratoga Investment (NYSE:SAR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 7th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.07). Saratoga Investment had a return on equity of 8.61% and a net margin of 12.70%.The firm had revenue of ($12.15) million during the quarter, compared to analysts' expectations of $31.38 million. On average, equities analysts predict that Saratoga Investment will post 2.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Saratoga Investment

A number of large investors have recently added to or reduced their stakes in SAR. BNP Paribas Financial Markets purchased a new stake in Saratoga Investment during the 3rd quarter valued at about $25,000. Quantbot Technologies LP purchased a new position in shares of Saratoga Investment in the third quarter valued at about $36,000. Advisory Services Network LLC purchased a new position in shares of Saratoga Investment in the third quarter valued at about $45,000. Kestra Advisory Services LLC bought a new position in shares of Saratoga Investment during the fourth quarter valued at about $46,000. Finally, Daytona Street Capital LLC bought a new position in shares of Saratoga Investment during the fourth quarter valued at about $51,000. Hedge funds and other institutional investors own 19.09% of the company's stock.

About Saratoga Investment

Saratoga Investment Corp. is a closed-end, externally managed investment company that seeks to generate current income and total return through a diversified portfolio of private U.S. companies. Trading on the New York Stock Exchange under the ticker SAR, the firm primarily targets middle-market businesses across a broad range of industries, including industrials, healthcare, consumer products, financial services and technology. Its investment approach combines debt and equity instruments, providing flexible capital solutions such as first-lien and second-lien secured loans, mezzanine debt, preferred equity and common equity positions.

As an actively managed vehicle, Saratoga Investment works closely with portfolio companies’ management teams to support growth initiatives, operational improvements, and strategic transactions.

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