In a report released yesterday, Chris Kotowski from Oppenheimer maintained a Buy rating on Ares Capital (ARCC), with a price target of $19.00. The company’s shares closed last Monday at $18.99, close to its 52-week high of $19.33.
According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 12.6% and a 70.9% success rate. Kotowski covers the Financial sector, focusing on stocks such as Apollo Global Management, Goldman Sachs Group, and Blackstone Group.
Ares Capital has an analyst consensus of Moderate Buy, with a price target consensus of $20.00.
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Based on Ares Capital’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $313 million and net profit of $175 million. In comparison, last year the company earned revenue of $376 million and had a net profit of $153 million.
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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.
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