PennantPark Floating Rate Capital (NYSE:PFLT) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Pennantpark Floating Rate Capital (NYSE:PFLT) has been upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen.
• The stock opened at $9.78 and has a market capitalization of $970.35 million with a P/E ratio of 11.64.
• Pennantpark primarily invests in floating rate loans to middle-market companies, focusing mainly on the U.S. market.

Wall Street Zen upgraded shares of PennantPark Floating Rate Capital (NYSE:PFLT - Free Report) from a sell rating to a hold rating in a research report report published on Saturday morning.

PennantPark Floating Rate Capital Price Performance

Shares of PFLT stock traded up $0.08 on Friday, hitting $9.58. The stock had a trading volume of 398,062 shares, compared to its average volume of 1,098,154. PennantPark Floating Rate Capital has a twelve month low of $8.82 and a twelve month high of $11.90. The firm has a market capitalization of $950.51 million, a price-to-earnings ratio of 11.40 and a beta of 0.99. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.83.

About PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.