Ares Capital Corporation – Clos with ticker code (ARCC) have now 15 analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The range between the high target price and low target price is between 20.5 and 17 and has a mean target at 19.5. With the stocks previous close at 18.66 this is indicating there is a potential upside of 4.5%. The 50 day moving average now sits at 18.48 and the 200 moving average now moves to 18.3. The company has a market capitalisation of $7,963m. You can visit the company’s website by visiting: http://www.arescapitalcorp.com
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. The fund will also consider investments in industries such as restaurants, retail, oil and gas, and technology sectors. It focuses on investments in Northeast, Mid-Atlantic, Southeast and Southwest regions from its New York office, the Midwest region, from the Chicago office, and the Western region from the Los Angeles office. The fund typically invests between $20 million and $200 million and a maximum of $400 million in companies with an EBITDA between $10 million and $250 million. It makes debt investments between $10 million and $100 million The fund invests through revolvers, first lien loans, warrants, unitranche structures, second lien loans, mezzanine debt, private high yield, junior capital, subordinated debt, and non-control preferred and common equity. The fund also selectively considers third-party-led senior and subordinated debt financings and opportunistically considers the purchase of stressed and discounted debt positions. The fund prefers to be an agent and/or lead the transactions in which it invests. The fund also seeks board representation in its portfolio companies.