Ares Capital Co. (ARCC) Receives $18.00 Consensus Target Price from Brokerages

Ares Capital Co. (NASDAQ:ARCC) has been given a consensus recommendation of “Buy” by the fourteen research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $18.00.

ARCC has been the subject of several recent analyst reports. TheStreet raised shares of Ares Capital from a “c+” rating to a “b-” rating in a report on Tuesday, December 12th. Compass Point initiated coverage on shares of Ares Capital in a report on Wednesday, December 6th. They issued a “buy” rating and a $17.50 target price for the company. National Securities reissued a “buy” rating and set a $19.00 price objective on shares of Ares Capital in a report on Friday, November 3rd. Jefferies Group reissued a “buy” rating and set a $19.50 price objective on shares of Ares Capital in a report on Friday, November 3rd. Finally, Keefe, Bruyette & Woods set a $19.00 price objective on shares of Ares Capital and gave the company a “buy” rating in a report on Friday, October 6th.

In related news, Director Michael J. Arougheti acquired 8,365 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was purchased at an average cost of $15.85 per share, with a total value of $132,585.25. Following the completion of the acquisition, the director now directly owns 937,054 shares of the company’s stock, valued at $14,852,305.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 8,965 shares of company stock valued at $142,315 over the last three months. 0.45% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in ARCC. Elliott Management Corp purchased a new stake in Ares Capital during the second quarter valued at approximately $18,343,000. Arrowstreet Capital Limited Partnership purchased a new stake in Ares Capital during the second quarter valued at approximately $16,501,000. Koch Industries Inc. increased its holdings in Ares Capital by 7,292.7% during the second quarter. Koch Industries Inc. now owns 861,474 shares of the investment management company’s stock valued at $812,000 after buying an additional 849,821 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in Ares Capital by 41.5% during the second quarter. Neuberger Berman Group LLC now owns 1,473,027 shares of the investment management company’s stock valued at $24,128,000 after buying an additional 432,303 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Ares Capital by 20.9% during the second quarter. Van ECK Associates Corp now owns 2,314,759 shares of the investment management company’s stock valued at $37,916,000 after buying an additional 400,272 shares during the last quarter. 43.60% of the stock is owned by institutional investors and hedge funds.

Shares of Ares Capital (ARCC) traded down $0.01 during trading on Tuesday, reaching $15.79. 1,621,840 shares of the company’s stock traded hands, compared to its average volume of 1,902,375. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $6,730.00, a PE ratio of 12.53, a PEG ratio of 3.37 and a beta of 0.63. Ares Capital has a twelve month low of $15.60 and a twelve month high of $17.87.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Thursday, November 2nd. The investment management company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $294.00 million during the quarter, compared to analysts’ expectations of $295.02 million. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. During the same period in the previous year, the company earned $0.43 earnings per share. research analysts forecast that Ares Capital will post 1.38 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.52 annualized dividend and a dividend yield of 9.63%. Ares Capital’s payout ratio is 120.63%.

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Ares Capital Company Profile

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 (NASDAQ:ARCC)

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