For Ares Capital Corporation [ARCC], Analyst sees a rise to $21. What next?

Ares Capital Corporation [NASDAQ: ARCC] surged by $0.15 during the normal trading session on while it closed the day at $20.22. The company report on February 27, 2024 at 4:15 PM that Ares Capital Corporation to Present at the Raymond James 45th Annual Institutional Investors Conference.

Ares Capital Corporation (“Ares Capital”) (NASDAQ:ARCC) announced today that Kort Schnabel, Ares Capital’s Co-President, and Scott Lem, Ares Capital’s Chief Financial Officer, are scheduled to present at the Raymond James 45th Annual Institutional Investors Conference on Tuesday, March 5, 2024 at 8:05am ET.

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A live audio webcast of the presentation will be available in the Investor Resources section of the Company’s website at www.arescapitalcorp.com. For those unable to listen to the live audio webcast, a replay will be available on the Company’s website shortly after the event.

Ares Capital Corporation stock has also gained 0.55% of its value over the past 7 days. However, ARCC stock has inclined by 1.66% in the 3 months of the year. Over the past six months meanwhile, it has gained 5.09% and gained 0.95% year-on date.

The market cap for ARCC stock reached $11.77 billion, with 582.31 million shares outstanding and 578.20 million shares in the current float. Compared to the average trading volume of 3.99M shares, ARCC reached a trading volume of 4969179 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Ares Capital Corporation [ARCC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ARCC shares is $21.63 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ARCC stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

B. Riley Securities have made an estimate for Ares Capital Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 08, 2024. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on June 16, 2023, representing the official price target for Ares Capital Corporation stock. Previously, the target price had yet another drop from $20 to $18, while Wells Fargo kept a Equal Weight rating on ARCC stock.

The Average True Range (ATR) for Ares Capital Corporation is set at 0.21, with the Price to Sales ratio for ARCC stock in the period of the last 12 months amounting to 4.50. The Price to Book ratio for the last quarter was 1.05.

ARCC stock trade performance evaluation

Ares Capital Corporation [ARCC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.55. With this latest performance, ARCC shares dropped by -1.65% in over the last four-week period, additionally plugging by 5.09% over the last 6 months – not to mention a rise of 4.66% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ARCC stock in for the last two-week period is set at 52.71, with the RSI for the last a single of trading hit 55.29, and the three-weeks RSI is set at 52.41 for Ares Capital Corporation [ARCC]. The present Moving Average for the last 50 days of trading for this stock 20.14, while it was recorded at 20.11 for the last single week of trading, and 19.47 for the last 200 days.

Earnings per share (EPS) analysis for Ares Capital Corporation [ARCC] stock

With the latest financial reports released by the company, Ares Capital Corporation posted 0.57/share EPS, while the average EPS was predicted by analysts to be reported at 0.59/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ARCC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ares Capital Corporation go to -0.90%.

Ares Capital Corporation [ARCC]: Institutional Ownership

The top three institutional holders of ARCC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ARCC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ARCC stock with ownership which is approximately 5.8325%.