Ares Capital (NASDAQ:ARCC) Given New $22.00 Price Target at Wells Fargo & Company

Ares Capital (NASDAQ:ARCC - Get Free Report) had its target price dropped by stock analysts at Wells Fargo & Company from $23.00 to $22.00 in a report released on Monday,Benzinga reports. The firm presently has an "overweight" rating on the investment management company's stock. Wells Fargo & Company's price target indicates a potential upside of 3.90% from the company's previous close.

ARCC has been the topic of a number of other research reports. StockNews.com downgraded shares of Ares Capital from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Keefe, Bruyette & Woods reduced their price target on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada raised their price objective on Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. JPMorgan Chase & Co. dropped their price target on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, Raymond James downgraded shares of Ares Capital from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Ares Capital presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.22.

Ares Capital Stock Performance

ARCC traded up $0.07 during trading on Monday, hitting $21.18. 747,800 shares of the company traded hands, compared to its average volume of 4,077,693. Ares Capital has a one year low of $18.26 and a one year high of $23.84. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The stock's fifty day moving average is $21.60 and its 200 day moving average is $21.95. The firm has a market cap of $14.49 billion, a P/E ratio of 8.66 and a beta of 0.77.

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. As a group, equities analysts predict that Ares Capital will post 2.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Ares Capital

Hedge funds have recently made changes to their positions in the business. Generali Asset Management SPA SGR bought a new position in Ares Capital during the fourth quarter valued at about $84,426,000. Raymond James Financial Inc. bought a new stake in shares of Ares Capital in the 4th quarter valued at approximately $58,159,000. Van ECK Associates Corp boosted its stake in Ares Capital by 11.8% in the fourth quarter. Van ECK Associates Corp now owns 14,145,706 shares of the investment management company's stock worth $309,649,000 after purchasing an additional 1,489,552 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Ares Capital by 81.0% in the 4th quarter. Two Sigma Investments LP now owns 2,678,525 shares of the investment management company's stock valued at $58,633,000 after buying an additional 1,198,580 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Ares Capital by 26.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,268,547 shares of the investment management company's stock worth $93,439,000 after buying an additional 881,450 shares during the period. Institutional investors and hedge funds own 27.38% of the company's stock.

Ares Capital Company Profile

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.

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