Jefferies analyst John Hecht assigned a Buy rating to Ares Capital (ARCC) on August 4 and set a price target of $16.00. The company’s shares closed last Monday at $15.02.
According to TipRanks.com, Hecht is a 5-star analyst with an average return of 9.6% and a 69.2% success rate. Hecht covers the Financial sector, focusing on stocks such as Apollo Investment Corp, Regional Management, and Synchrony Financial.
Ares Capital has an analyst consensus of Strong Buy, with a price target consensus of $16.08, implying a 7.7% 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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Based on Ares Capital’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $612 million. In comparison, last year the company earned revenue of $256 million and had a net profit of $200 million.
Based on the recent corporate insider activity of 10 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.
