Ares Capital Corp [NASDAQ: ARCC] gained 0.57% or 0.12 points to close at $21.13 with a heavy trading volume of 3783868 shares.
The daily chart for ARCC points out that the company has recorded 2.97% gains over the past six months.
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If we look at the average trading volume of 3.29M shares, ARCC reached to a volume of 3783868 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Ares Capital Corp [ARCC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ARCC shares is $22.11 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 1.50. 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 Corp 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 Corp 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 Corp is set at 0.20, with the Price to Sales ratio for ARCC stock in the period of the last 12 months amounting to 4.82. The Price to Book ratio for the last quarter was 1.08, with the Price to Cash per share for the same quarter was set at 1.08. Price to Free Cash Flow for ARCC in the course of the last twelve months was 11.92.
Trading performance analysis for ARCC stock
Ares Capital Corp [ARCC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.20. With this latest performance, ARCC shares gained by 2.92% in over the last four-week period, additionally plugging by 2.97% over the last 6 months – not to mention a rise of 9.88% 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 60.84, with the RSI for the last a single of trading hit 66.18, and the three-weeks RSI is set at 57.52 for Ares Capital Corp [ARCC]. The present Moving Average for the last 50 days of trading for this stock 20.71, while it was recorded at 21.04 for the last single week of trading, and 20.64 for the last 200 days.
Ares Capital Corp [ARCC]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Ares Capital Corp posted 0.59/share EPS, while the average EPS was predicted by analysts to be reported at 0.58/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.01. 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 Corp go to -4.00%.
An analysis of Institutional ownership at Ares Capital Corp [ARCC]
There are presently around $29.83%, or 29.99%% of ARCC stock, in the hands of institutional investors. The top three institutional holders of ARCC stocks are: MORGAN STANLEY with ownership of 16.01 million shares, which is approximately 2.7091%. VAN ECK ASSOCIATES CORP, holding 11.68 million shares of the stock with an approximate value of $$243.43 million in ARCC stocks shares; and VAN ECK ASSOCIATES CORP, currently with $$138.68 million in ARCC stock with ownership which is approximately 1.126%.
