The stock of Ares Capital Corporation (NASDAQ:ARCC) increased by $0.05 on Tuesday to finish at $19.41, up 0.26 percent. The last five days have seen an average of 2,031,200 shares of common stock traded. 9 times new highs were reached in the current year, with a gain of $0.94. The average number of shares traded over the last 20 days was 2,307,150, while the average volume over the last 50 days totaled 2,906,450.
ARCC stock dropped -0.97% since last month. On 08/22/23, the company’s shares reached a one-month low of $19.06. The stock touched a high of $20.26 on 02/07/23, after rallying from a low of $16.51 in 52 weeks. The price of ARCC stock has risen by 5.09% or $0.94 this year, reaching a new high 9 times. Still, the stock price is down -4.21% from the 52-week high.
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Insider Transactions
ARCC stock investors should be aware that Ares Capital Corporation (ARCC) stock had its last reported insider trading activity 120 days ago on May 02. On May 02, Co-President SCHNABEL MICHAEL KORT acquired 15,000 shares at $17.84 each. This transaction resulted in the insider spending $267,600. On Mar 16, ROLL PENELOPE F added 3,000 shares at a price of US$17.44. After the transaction, the insider now owns 60,500 shares. Chief Financial Officer ROLL PENELOPE F had earlier bought 3,000 shares on Mar 15 for $17.50 a share. The transaction was completed for $52,500.
Valuation Metrics
Ares Capital Corporation (ARCC) has a trailing price-to-earnings (P/E) ratio of 11.84. Beta for the stock is 1.03. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 4.45, the price-to-book (PB) ratio of 1.04.
Company paid $0.48 per share in dividends, remained unchanged from $0.48 last year.
Financial Health
Based on annual data, it had gross profit of $1.15 billion and revenue of $2.1 billion.
Earnings Surprise
According to Ares Capital Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that Ares Capital Corporation’s quarterly earnings would be $0.58, but it ended up being $0.57, beating the consensus by 1.80%. EBITDA was $468.0 million for the quarter. At the end of Ares Capital Corporation’s most recent quarter ended June 29, its total debt was $11.47 billion. Equity owned by shareholders amounts to $557.38 million.
Technical Picture
Here’s a quick look at Ares Capital Corporation’s (ARCC) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 55.53%, suggesting the stock is Neutral, with a 9.33% historical volatility rate.
The stochastic %K and %D were 47.77% and 36.05% respectively, while the average true range (ATR) was 0.19. Based on the 14-day stochastic reading of 61.95%, the RSI (14) reading is 53.37%. On the 9-day MACD Oscillator, the stock is at 0.09, and the 14-day reading is at 0.02.
Analyst Ratings
In its analyst report released on June 16, 2023, B. Riley Securities began covering Ares Capital Corporation (NASDAQ: ARCC). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Ares Capital Corporation (ARCC) an Buy rating. ARCC is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 13 others recommend it as a buy.
What is ARCC’s price target for the next 12 months?
The current consensus forecast for the stock is between $19.75 and $24.00, with a median target price of $21.00. In analyzing these forecasts, the average price target given by analysts for Ares Capital Corporation (ARCC) is $20.95.
