StockNews.com Upgrades Ares Capital (NASDAQ:ARCC) to “Hold”

Ares Capital (NASDAQ:ARCC – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

A number of other equities analysts have also recently weighed in on ARCC. Raymond James cut their price target on Ares Capital from $21.00 to $20.50 and set an “outperform” rating for the company in a report on Wednesday, October 26th. JPMorgan Chase & Co. reduced their target price on shares of Ares Capital from $21.00 to $20.50 and set an “overweight” rating on the stock in a report on Wednesday. Wells Fargo & Company decreased their price target on shares of Ares Capital from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, October 24th. Finally, Citigroup boosted their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.57.

Ares Capital Price Performance

NASDAQ ARCC traded down $0.09 during mid-day trading on Wednesday, hitting $19.95. The stock had a trading volume of 2,215,866 shares, compared to its average volume of 2,946,560. The company has a 50 day simple moving average of $19.00 and a 200 day simple moving average of $19.09. The company has a market cap of $10.14 billion, a price-to-earnings ratio of 11.80 and a beta of 1.01. Ares Capital has a 52-week low of $16.53 and a 52-week high of $23.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.26.

Hedge Funds Weigh In On Ares Capital

Hedge funds have recently bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC bought a new stake in Ares Capital during the third quarter valued at $26,000. Wagner Wealth Management LLC bought a new stake in shares of Ares Capital during the 2nd quarter valued at about $27,000. Arlington Partners LLC acquired a new stake in Ares Capital during the fourth quarter worth about $31,000. Accurate Wealth Management LLC bought a new position in Ares Capital in the fourth quarter worth about $33,000. Finally, Ellis Investment Partners LLC boosted its stake in Ares Capital by 49.9% in the third quarter. Ellis Investment Partners LLC now owns 2,082 shares of the investment management company’s stock valued at $35,000 after acquiring an additional 693 shares during the period. 32.24% of the stock is currently owned by institutional investors and hedge funds.

About Ares Capital

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Ares Commercial Finance provides asset-based cash flow solutions to small and middle-market companies. ACF works with borrowers to deliver creative, flexible, and comprehensive financing solutions. Ares Commercial Finance has the ability to structure and agent deals to support the growth and changing capital needs of clients.