After Compass Point and Oppenheimer gave Solar Capital (NASDAQ: SLRC) a Buy rating last month, the company received another Buy, this time from Wells Fargo. Analyst Finian O’Shea maintained a Buy rating on Solar Capital today and set a price target of $13.50. The company’s shares closed last Monday at $14.57.
According to TipRanks.com, O’Shea is a 1-star analyst with an average return of -3.3% and a 38.5% success rate. O’Shea covers the Financial sector, focusing on stocks such as BlackRock Capital Investment, Oaktree Specialty Lending, and Apollo Investment Corp.
Solar Capital has an analyst consensus of Strong Buy, with a price target consensus of $19.00, implying a 34.5% upside from current levels. In a report issued on April 13, Oppenheimer also maintained a Buy rating on the stock with a $19.00 price target.
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Based on Solar Capital’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $2.16 million. In comparison, last year the company earned revenue of $10.37 million and had a net profit of $8.91 million.
Based on the recent corporate insider activity of 18 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 SLRC in relation to earlier this year.
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Solar Capital Ltd. is a closed-ened, externally managerd, non-diversified management investment company. The firm invests in in privately held U.S. middle-market companies. Its objective is to generate both current income and capital appreciation through debt and equity investments. The company was founded on November 2007 and is headquartered in New York, NY.
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