In a report released yesterday, Devin Ryan from JMP Securities maintained a Buy rating on Ares Capital (ARCC – Research Report), with a price target of $20.00. The company’s shares closed yesterday at $17.81.
According to TipRanks, Ryan is a 5-star analyst with an average return of 10.6% and a 55.11% success rate. Ryan covers the Financial sector, focusing on stocks such as Goldman Sachs Group, Hercules Capital, and Stifel Financial.
In addition to JMP Securities, Ares Capital also received a Buy from J.P. Morgan’s Richard Shane in a report issued yesterday. However, on April 18, Wells Fargo downgraded Ares Capital (NASDAQ: ARCC) to a Hold.
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The company has a one-year high of $19.63 and a one-year low of $15.66. Currently, Ares Capital has an average volume of 3.48M.
Based on the recent corporate insider activity of 8 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.
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