JPMorgan Chase & Co. Issues Positive Forecast for Ares Capital (NASDAQ:ARCC) Stock Price

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

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

Ares Capital Stock Down 0.3 %

Ares Capital stock traded down $0.07 during midday trading on Monday, hitting $23.61. The stock had a trading volume of 2,897,925 shares, compared to its average volume of 4,041,733. The stock has a market cap of $15.25 billion, a P/E ratio of 9.07 and a beta of 1.01. The business has a fifty day moving average price of $22.28 and a 200 day moving average price of $21.45. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. Ares Capital has a 12 month low of $19.32 and a 12 month high of $23.74.

Hedge Funds Weigh In On Ares Capital

Several large investors have recently bought and sold shares of ARCC. Horizon Financial Services LLC acquired a new position in shares of Ares Capital during the third quarter valued at approximately $28,000. Blue Trust Inc. boosted its stake in 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 purchasing an additional 909 shares in the last quarter. Montag A & Associates Inc. increased its position 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 purchasing an additional 1,389 shares during the period. Farmers & Merchants Investments Inc. raised its stake in shares of Ares Capital by 200.0% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 3,000 shares of the investment management company’s stock worth $66,000 after buying an additional 2,000 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Ares Capital in the third quarter valued at $67,000. 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.