Oppenheimer analyst Chris Kotowski assigned a Buy rating to Ares Capital (ARCC) yesterday and set a price target of $16.00. The company’s shares closed last Tuesday at $14.55.
According to TipRanks.com, Kotowski is a 4-star analyst with an average return of 5.1% and a 59.3% success rate. Kotowski covers the Financial sector, focusing on stocks such as Apollo Global Management, Focus Financial Partners, and JPMorgan Chase & Co.
Currently, the analyst consensus on Ares Capital is a Strong Buy with an average price target of $15.53, implying a 7.6% upside from current levels. In a report issued on August 3, J.P. Morgan also maintained a Buy rating on the stock with a $15.00 price target.
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The company has a one-year high of $19.33 and a one-year low of $7.90. Currently, Ares Capital has an average volume of 2.41M.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ARCC in relation to earlier this year.
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Ares Capital Corp. is a closed-end, non-diversified management investment company. Its investment objective is to generate both current income and capital appreciation through debt and equity investments. The company was founded on April 1, 2004 and is headquartered in New York, NY.
