Ares Capital Corporation (ARCC) concluded trading on 09/14/23 at a closing price of $19.30, with 3.39 million shares of worth about $65.42 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 10.98% during that period and on Thursday the price saw a loss of about -2.28%. Currently the company’s common shares owned by public are about 557.38M shares, out of which, 550.51M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 16 analysts are covering the ARCC stock and their offered price forecasts bring an average price target of $20.95. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $24.00 and could fall to a lowest price of $19.75. The stock’s current price level is 7.88% above of average price target set by the analysts, while a rise to estimated low would result in gain of 2.28% for the stock. However, touching the estimated high of $24.00 would mean a gain of 19.58% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 2 times over the past 12 months. They bought 18,000 shares in 2 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
VanEck BDC Income ETF, iShares II Plc – Listed Private E, and Border to Coast Listed Alternativ are the top 3 mutual funds which are holding stakes in Ares Capital Corporation VanEck BDC Income ETF is currently holding 6.69 million shares of worth totaling $131.11 million. The company recently came buying 35694.0 shares which brought its stake up to 1.20% of the company’s outstanding shares. Border to Coast Listed Alternativ, after buying 2.3 million shares, have now control over 0.41% of the stake in the company. It holds 2.3 million shares of worth $44.99 million.
Ares Capital Corporation (NASDAQ: ARCC) started trading at $19.32, below -$0.43 from concluding price of the previous day. However, the stock later moved at a day high price of 19.37, or with a loss of -2.28%. Stock saw a price change of -0.57% in past 5 days and over the past one month there was a price change of -0.26%. Year-to-date (YTD), ARCC shares are showing a performance of 4.49% which decreased to -1.38% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $16.51 but also hit the highest price of $20.17 during that period. The average intraday trading volume for Ares Capital Corporation shares is 2.92 million. The stock is currently trading -0.38% below its 20-day simple moving average (SMA20), while that difference is down -0.56% for SMA50 and it goes to 2.18% higher than SMA200.
Ares Capital Corporation (NASDAQ: ARCC) currently have 557.38M outstanding shares and institutions hold larger chunk of about 31.18% of that. Holding of mutual funds in the company is about — while other institutional holders and individual stake holders have control over — and — of the stake respectively.
The stock has a current market capitalization of $10.76B and its 3Y-monthly beta is at 1.03. PE ratio of stock for trailing 12 months is 11.77, while it has posted earnings per share of $1.64 in the same period. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ARCC, volatility over the week remained 0.73% while standing at 0.88% over the month.
Analysts are in expectations that Ares Capital Corporation (ARCC) stock would likely to be making an EPS of $0.58 in the current quarter, while forecast for next quarter EPS is $0.59 and it is $2.28 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.55 which is $0.61 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.5 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 15.30% while it is estimated to decrease by -2.10% in next year. EPS is likely to shrink at an annualized rate of -0.90% for next 5-years, compared to annual growth of 5.37% made by the stock over the past 5-years.
Analysts at 16 brokerage firms have issued recommendations for the Ares Capital Corporation (ARCC)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.70. Out of those 16 Wall Street analysts, 13 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by B. Riley Securities on June 16, 2023 offering a Buy rating for the stock and assigned a target price of $20.50 to it.