Saratoga Investment (NYSE:SAR) Given New $22.00 Price Target at B. Riley Financial

Key Points

• B. Riley Financial cut Saratoga Investment’s price target from $23 to $22 while keeping a neutral rating, implying about 22% upside from the prior close.
• Other analysts remain cautious: Saratoga has recently seen a mix of hold and sell calls, and the consensus rating is still Hold with an average price target of $21.50.
• The company recently missed earnings estimates, reporting $0.47 EPS versus $0.54 expected, and revenue of -$12.15 million versus expectations of $31.38 million.

Saratoga Investment (NYSE:SAR - Get Free Report) had its target price cut by equities researchers at B. Riley Financial from $23.00 to $22.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. B. Riley Financial's target price points to a potential upside of 22.03% from the stock's previous close.

Other analysts also recently issued reports about the company. Weiss Ratings restated a "hold (c)" rating on shares of Saratoga Investment in a research note on Wednesday, June 24th. Oppenheimer dropped their target price on Saratoga Investment from $22.00 to $21.00 and set a "market perform" rating for the company in a report on Thursday. Finally, Wall Street Zen cut shares of Saratoga Investment from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Six 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 an average price target of $21.50.

Saratoga Investment Trading Up 0.3%

Shares of SAR stock opened at $18.03 on Thursday. Saratoga Investment has a 12-month low of $17.77 and a 12-month high of $25.64. The company has a market capitalization of $293.33 million, a PE ratio of 18.01 and a beta of 0.54. The firm has a 50 day moving average price of $22.21 and a two-hundred day moving average price of $22.67. 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 posted its earnings results on Tuesday, July 7th. The financial services provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.07). The firm had revenue of ($12.15) million during the quarter, compared to analyst estimates of $31.38 million. Saratoga Investment had a net margin of 12.70% and a return on equity of 8.61%. As a group, analysts predict that Saratoga Investment will post 2.15 earnings per share for the current year.

Institutional Trading of Saratoga Investment

A number of institutional investors have recently modified their holdings of SAR. Western Wealth Management LLC acquired a new stake in Saratoga Investment during the first quarter worth about $70,000. Bank of America Corp DE boosted its position in shares of Saratoga Investment by 2,243.4% during the 1st quarter. Bank of America Corp DE now owns 25,027 shares of the financial services provider's stock worth $547,000 after acquiring an additional 23,959 shares in the last quarter. Royal Bank of Canada increased its stake in Saratoga Investment by 3.2% in the first quarter. Royal Bank of Canada now owns 17,950 shares of the financial services provider's stock valued at $393,000 after acquiring an additional 557 shares during the last quarter. Cetera Investment Advisers increased its stake in Saratoga Investment by 2.2% in the first quarter. Cetera Investment Advisers now owns 22,301 shares of the financial services provider's stock valued at $488,000 after acquiring an additional 476 shares during the last quarter. Finally, Greenwood Gearhart LLC acquired a new position in Saratoga Investment during the first quarter valued at approximately $389,000. 19.09% of the stock is currently owned by institutional investors.

Saratoga Investment Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.