JPMorgan Chase & Co. Lowers Ares Capital (NASDAQ:ARCC) Price Target to $22.00

Ares Capital (NASDAQ:ARCC - Free Report) had its price target trimmed by JPMorgan Chase & Co. from $24.50 to $22.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the investment management company's stock.

Several other equities analysts have also issued reports on ARCC. Raymond James lowered Ares Capital from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. Wells Fargo & Company lowered their price objective on shares of Ares Capital from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. StockNews.com cut shares of Ares Capital from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods reduced their target price on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group dropped their price target on Ares Capital from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. One equities 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.33.

Ares Capital Trading Up 0.0 %

Shares of Ares Capital stock traded up $0.01 during trading on Thursday, reaching $21.11. 2,818,110 shares of the company were exchanged, compared to its average volume of 4,090,548. The business has a 50-day moving average price of $21.60 and a 200-day moving average price of $21.94. The firm has a market capitalization of $14.45 billion, a price-to-earnings ratio of 8.62 and a beta of 0.77. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. Ares Capital has a twelve month low of $18.26 and a twelve month high of $23.84.

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

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.10%. The ex-dividend date of this dividend was Friday, March 14th. Ares Capital's dividend payout ratio is currently 78.37%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Sage Advisors LLC raised its stake in shares of Ares Capital by 3.5% during the 1st quarter. Sage Advisors LLC now owns 998,486 shares of the investment management company's stock worth $22,126,000 after purchasing an additional 33,798 shares in the last quarter. Prairiewood Capital LLC increased its holdings in Ares Capital by 8.5% during the first quarter. Prairiewood Capital LLC now owns 196,221 shares of the investment management company's stock worth $4,348,000 after buying an additional 15,379 shares during the last quarter. J.Safra Asset Management Corp raised its position in Ares Capital by 21.0% during the first quarter. J.Safra Asset Management Corp now owns 9,598 shares of the investment management company's stock worth $213,000 after acquiring an additional 1,666 shares in the last quarter. Spinnaker Trust acquired a new stake in Ares Capital in the first quarter valued at $11,390,000. Finally, Taylor Frigon Capital Management LLC grew its position in shares of Ares Capital by 0.6% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 104,519 shares of the investment management company's stock valued at $2,316,000 after acquiring an additional 582 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.

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.