Ares Capital Corporation (ARCC) Earns Outperform Rating from Analysts at Citigroup Inc.

Equities research analysts at Citigroup Inc. began coverage on shares of Ares Capital Corporation (NASDAQ:ARCC) in a research note issued to investors on Wednesday. The brokerage set an “outperform” rating and a $18.00 price target on the investment management company’s stock. Citigroup Inc.’s price target would indicate a potential upside of 13.60% from the company’s current price.

A number of other equities research analysts have also issued reports on ARCC. BidaskClub lowered Ares Capital Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. TheStreet raised Ares Capital Corporation from a “c+” rating to a “b” rating in a research report on Monday, August 7th. Zacks Investment Research lowered Ares Capital Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. National Securities reissued a “buy” rating and issued a $19.00 target price on shares of Ares Capital Corporation in a research report on Monday, August 7th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $19.50 target price on shares of Ares Capital Corporation in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $17.94.

Ares Capital Corporation (ARCC) traded up 0.19% during trading on Wednesday, reaching $15.84. The company had a trading volume of 1,497,064 shares. Ares Capital Corporation has a 52-week low of $15.01 and a 52-week high of $17.87. The company has a 50 day moving average price of $16.10 and a 200 day moving average price of $16.68.

Ares Capital Corporation (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). Ares Capital Corporation had a net margin of 44.61% and a return on equity of 8.95%. The business had revenue of $284.00 million for the quarter, compared to the consensus estimate of $297.77 million. During the same quarter last year, the firm earned $0.50 EPS. Analysts expect that Ares Capital Corporation will post $1.40 EPS for the current year.

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Several hedge funds have recently bought and sold shares of the stock. Round Table Services LLC increased its holdings in shares of Ares Capital Corporation by 0.4% during the 2nd quarter. Round Table Services LLC now owns 10,225 shares of the investment management company’s stock worth $167,000 after acquiring an additional 39 shares during the last quarter. Alpha Omega Wealth Management LLC increased its holdings in shares of Ares Capital Corporation by 1.7% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 12,184 shares of the investment management company’s stock worth $200,000 after acquiring an additional 199 shares during the last quarter. Hudock Capital Group LLC increased its holdings in shares of Ares Capital Corporation by 3.2% during the 2nd quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock worth $106,000 after acquiring an additional 200 shares during the last quarter. Honkamp Krueger Financial Services Inc. increased its holdings in shares of Ares Capital Corporation by 2.0% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 13,472 shares of the investment management company’s stock worth $221,000 after acquiring an additional 260 shares during the last quarter. Finally, M&R Capital Management Inc. increased its holdings in shares of Ares Capital Corporation by 2.8% during the 2nd quarter. M&R Capital Management Inc. now owns 11,755 shares of the investment management company’s stock worth $188,000 after acquiring an additional 320 shares during the last quarter. 45.01% of the stock is currently owned by institutional investors and hedge funds.

About Ares Capital Corporation

Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.

Analyst Recommendations for Ares Capital Corporation (NASDAQ:ARCC)

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