In a report released today, Ryan Lynch from KBW maintained a Buy rating on Ares Capital (ARCC – Research Report), with a price target of $22.00. The company’s shares closed yesterday at $20.19.
Lynch covers the Financial sector, focusing on stocks such as Golub Capital Bdc, Barings BDC, and Oaktree Specialty Lending. According to TipRanks, Lynch has an average return of 7.7% and a 63.00% success rate on recommended stocks.
In addition to KBW, Ares Capital also received a Buy from Compass Point’s Casey Alexander in a report issued yesterday. However, on January 29, Wells Fargo maintained a Hold rating on Ares Capital (NASDAQ: ARCC).
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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 $503 million and a net profit of $500 million. In comparison, last year the company earned a revenue of $207 million and had a net profit of $118 million
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Ares Capital (ARCC) Company Description:
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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