Ares Capital (NASDAQ:ARCC) Price Target Raised to $23.00 at Keefe, Bruyette & Woods

Ares Capital (NASDAQ:ARCC) had its target price boosted by Keefe, Bruyette & Woods from $22.00 to $23.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has an outperform rating on the investment management company’s stock.

ARCC has been the subject of several other reports. B. Riley increased their target price on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Wells Fargo & Company cut their target price on Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Raymond James lowered Ares Capital from an “outperform” rating to a “market perform” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ares Capital currently has an average rating of “Moderate Buy” and a consensus target price of $22.94.

Ares Capital Stock Up 0.0 %

Shares of ARCC stock opened at $22.74 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $14.69 billion, a PE ratio of 8.75 and a beta of 1.01. The business’s fifty day moving average is $22.40 and its 200-day moving average is $21.53. Ares Capital has a 1 year low of $19.32 and a 1 year high of $23.84.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. Equities analysts expect that Ares Capital will post 2.36 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 8.44%. The ex-dividend date is Friday, March 14th. Ares Capital’s dividend payout ratio is currently 78.37%.

Hedge Funds Weigh In On Ares Capital

Several institutional investors and hedge funds have recently bought and sold shares of ARCC. Horizon Financial Services LLC acquired a new stake in shares of Ares Capital during the third quarter worth approximately $28,000. Promus Capital LLC purchased a new stake in Ares Capital in the 4th quarter worth approximately $48,000. Blue Trust Inc. boosted its stake in shares of Ares Capital by 56.8% during the 3rd quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock valued at $52,000 after buying an additional 909 shares during the period. SRS Capital Advisors Inc. acquired a new stake in shares of Ares Capital during the 4th quarter valued at $60,000. Finally, Montag A & Associates Inc. grew its holdings in shares of Ares Capital by 92.6% during the 4th quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company’s stock valued at $63,000 after acquiring an additional 1,389 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

About Ares Capital

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.