RBC Capital analyst Kenneth Lee maintained a Buy rating on Ares Capital (ARCC) on April 9 and set a price target of $14.00. The company’s shares closed last Thursday at $13.10.
According to TipRanks.com, Lee has 0 stars on 0-5 star ranking scale with an average return of -7.1% and a 39.8% success rate. Lee covers the Financial sector, focusing on stocks such as American Equity Investment Life, BrightSphere Investment Group, and Victory Capital Holdings.
Currently, the analyst consensus on Ares Capital is a Strong Buy with an average price target of $17.67, a 37.0% upside from current levels. In a report issued on April 2, Compass Point also upgraded the stock to Buy with a $13.00 price target.
See today’s analyst top recommended stocks >>
Based on Ares Capital’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $256 million and net profit of $196 million. In comparison, last year the company earned revenue of $191 million and had a net profit of $144 million.
Based on the recent corporate insider activity of 15 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
Read More on ARCC:
