Royal Bank Of Canada Forecasts Strong Price Appreciation for Main Street Capital (NYSE:MAIN) Stock

Key Points

• Royal Bank of Canada raised its target price for Main Street Capital stock from $52.00 to $67.00, indicating a potential upside of 3.48% from the company's previous close, and maintains an "outperform" rating.
• Several analysts have upgraded Main Street Capital's ratings, with Zacks Research upgrading it to a "strong buy" and B. Riley lifting their target price to $64.00.
• Main Street Capital reported quarterly earnings of $0.99 per share, meeting analysts' expectations, along with a significant revenue of $143.97 million during the period.

Main Street Capital (NYSE:MAIN - Get Free Report) had its target price increased by Royal Bank Of Canada from $52.00 to $67.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Royal Bank Of Canada's price target points to a potential upside of 3.48% from the company's previous close.

MAIN has been the topic of several other reports. Zacks Research upgraded Main Street Capital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. B. Riley lifted their target price on Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. Finally, Truist Financial lifted their target price on Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $61.20.

Main Street Capital Price Performance

Shares of MAIN stock opened at $64.75 on Thursday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $5.79 billion, a P/E ratio of 10.68 and a beta of 0.85. Main Street Capital has a 12 month low of $47.00 and a 12 month high of $67.77. The stock has a 50 day moving average of $63.25 and a two-hundred day moving average of $58.71.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, meeting analysts' consensus estimates of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The firm had revenue of $143.97 million during the quarter, compared to analysts' expectations of $137.23 million. As a group, equities analysts expect that Main Street Capital will post 4.11 EPS for the current year.

Insider Buying and Selling

In other Main Street Capital news, EVP Jason B. Beauvais sold 13,664 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $59.37, for a total transaction of $811,231.68. Following the transaction, the executive vice president owned 181,526 shares of the company's stock, valued at $10,777,198.62. The trade was a 7.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nicholas Meserve sold 14,000 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the transaction, the director directly owned 82,383 shares in the company, valued at approximately $5,532,018.45. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Main Street Capital

A number of large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in Main Street Capital by 50.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,261 shares of the financial services provider's stock worth $468,000 after purchasing an additional 2,756 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Main Street Capital by 10.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 242,857 shares of the financial services provider's stock valued at $13,736,000 after acquiring an additional 22,340 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Main Street Capital in the 1st quarter valued at $578,000. Segment Wealth Management LLC lifted its stake in shares of Main Street Capital by 134.3% in the 1st quarter. Segment Wealth Management LLC now owns 117,994 shares of the financial services provider's stock valued at $6,674,000 after acquiring an additional 67,626 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Main Street Capital in the 1st quarter valued at $6,205,000. Institutional investors and hedge funds own 20.31% of the company's stock.

About Main Street Capital

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.

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.