JPMorgan Chase & Co. Issues Positive Forecast for Ares Capital (NASDAQ:ARCC) Stock Price

Ares Capital (NASDAQ:ARCC) had its price objective boosted by JPMorgan Chase & Co. from $23.00 to $24.50 in a report issued on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the investment management company’s stock.

A number of other research firms also recently weighed in on ARCC. B. Riley raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company lifted their price objective on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.79.

Ares Capital Stock Up 0.5 %

ARCC stock opened at $23.80 on Monday. Ares Capital has a twelve month low of $19.32 and a twelve month high of $23.84. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $15.38 billion, a P/E ratio of 9.15 and a beta of 1.00. The firm has a 50 day simple moving average of $22.32 and a 200-day simple moving average of $21.47.

Hedge Funds Weigh In On Ares Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Round Rock Advisors LLC acquired a new position in shares of Ares Capital during the fourth quarter valued at $1,512,000. SG Americas Securities LLC acquired a new position in shares of Ares Capital during the fourth quarter valued at $519,000. Chicago Partners Investment Group LLC boosted its holdings in shares of Ares Capital by 5.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 507,374 shares of the investment management company’s stock valued at $11,208,000 after acquiring an additional 25,347 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Ares Capital by 24.3% during the third quarter. Franklin Resources Inc. now owns 650,163 shares of the investment management company’s stock valued at $13,900,000 after acquiring an additional 127,219 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Ares Capital by 4.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 885,406 shares of the investment management company’s stock valued at $18,540,000 after acquiring an additional 38,559 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Company Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.