Ares Capital (NASDAQ:ARCC) Price Target Raised to $24.50

Ares Capital (NASDAQ:ARCC) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $23.00 to $24.50 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 3.79% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. B. Riley lifted their price objective on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company upped their price objective on shares of Ares Capital from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.79.

Ares Capital Trading Down 0.3 %

Shares of ARCC traded down $0.07 on Monday, hitting $23.61. 2,897,925 shares of the stock traded hands, compared to its average volume of 4,041,733. The firm has a market capitalization of $15.25 billion, a P/E ratio of 9.07 and a beta of 1.01. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. Ares Capital has a 1 year low of $19.32 and a 1 year high of $23.74. The stock’s 50 day moving average is $22.28 and its two-hundred day moving average is $21.45.

Institutional Investors Weigh In On Ares Capital

A number of large investors have recently modified their holdings of ARCC. Private Advisor Group LLC boosted its holdings in Ares Capital by 7.9% in the 4th quarter. Private Advisor Group LLC now owns 337,581 shares of the investment management company’s stock worth $7,390,000 after acquiring an additional 24,652 shares during the period. Plan Group Financial LLC grew its holdings in Ares Capital by 11.8% during the 4th quarter. Plan Group Financial LLC now owns 52,283 shares of the investment management company’s stock valued at $1,144,000 after purchasing an additional 5,519 shares in the last quarter. Key Financial Inc increased its stake in Ares Capital by 18.0% during the 4th quarter. Key Financial Inc now owns 6,465 shares of the investment management company’s stock worth $142,000 after buying an additional 988 shares during the period. BKM Wealth Management LLC lifted its holdings in Ares Capital by 1.8% in the 4th quarter. BKM Wealth Management LLC now owns 42,388 shares of the investment management company’s stock worth $928,000 after buying an additional 767 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its position in Ares Capital by 7.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 165,109 shares of the investment management company’s stock valued at $3,614,000 after buying an additional 11,483 shares during the last quarter. Institutional investors and hedge funds 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.