Garrison Capital Inc. (NASDAQ:GARS) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $9.50 price objective on the investment management company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.37% from the company’s previous close.

According to Zacks, “Garrison Capital Inc. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of the United States-based middle-market companies, which it defines as those having annual earnings before interest, taxes and depreciation, or EBITDA of certain amount. It invests or provides direct lending in first lien senior secured loans, second lien senior secured loans, one-stop senior secured loans or unitranche loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies. The Company intends to generate risk-adjusted net returns by assembling a portfolio of investments. The Company’s investments include debt investments, preferred and minority equity investments (equity) of diversified companies and a portfolio of unsecured small balance consumer loans. “

GARS has been the topic of several other research reports. ValuEngine raised Garrison Capital from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. National Securities reissued a “neutral” rating and issued a $10.00 target price on shares of Garrison Capital in a report on Monday, August 14th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $10.00.

Shares of Garrison Capital (GARS) traded up 0.47% on Tuesday, reaching $8.53. The company’s stock had a trading volume of 30,844 shares. Garrison Capital has a 1-year low of $7.77 and a 1-year high of $10.15. The company has a 50 day moving average of $8.45 and a 200 day moving average of $8.67.

Garrison Capital (NASDAQ:GARS) last posted its earnings results on Tuesday, August 8th. The investment management company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company had revenue of $9.03 million for the quarter, compared to analyst estimates of $9.08 million. Garrison Capital had a positive return on equity of 8.33% and a negative net margin of 0.38%. On average, equities analysts expect that Garrison Capital will post $1.10 EPS for the current year.

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In related news, CFO Brian S. Chase acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $8.07 per share, with a total value of $32,280.00. Following the completion of the purchase, the chief financial officer now directly owns 46,135 shares in the company, valued at $372,309.45. The purchase was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders have purchased 8,000 shares of company stock worth $65,190. Corporate insiders own 5.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new position in Garrison Capital during the second quarter worth about $178,000. Goldman Sachs Group Inc. purchased a new position in Garrison Capital during the second quarter worth about $129,000. Caxton Corp lifted its position in Garrison Capital by 4.0% during the second quarter. Caxton Corp now owns 68,702 shares of the investment management company’s stock worth $567,000 after buying an additional 2,629 shares during the period. Stephens Inc. AR lifted its position in Garrison Capital by 40.1% during the second quarter. Stephens Inc. AR now owns 30,274 shares of the investment management company’s stock worth $250,000 after buying an additional 8,667 shares during the period. Finally, AJO LP purchased a new position in Garrison Capital during the second quarter worth about $816,000. Hedge funds and other institutional investors own 22.03% of the company’s stock.

About Garrison Capital

Garrison Capital Inc is a managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of the United States-based middle-market companies, which it defines as those having annual earnings before interest, taxes and depreciation, or EBITDA, of certain amount.

Analyst Recommendations for Garrison Capital (NASDAQ:GARS)

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