Solar Capital (SLRC) Stock Rating Upgraded by Zacks Investment Research
Solar Capital (NASDAQ:SLRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Solar Capital Ltd. is a closed-end investment company that invests primarily in leveraged companies, including middle market companies, in the form of senior secured loans, mezzanine loans, and equity securities. “
SLRC has been the topic of several other reports. Wells Fargo & Co lowered shares of Solar Capital from an “outperform” rating to a “market perform” rating in a report on Thursday, October 4th. BidaskClub upgraded shares of Solar Capital from a “hold” rating to a “buy” rating in a report on Tuesday, November 13th. National Securities reiterated a “buy” rating and issued a $25.00 target price on shares of Solar Capital in a report on Tuesday, November 6th. Oppenheimer assumed coverage on shares of Solar Capital in a report on Wednesday, November 28th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, ValuEngine lowered shares of Solar Capital from a “hold” rating to a “sell” rating in a report on Monday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $23.50.
Solar Capital (NASDAQ:SLRC) last posted its earnings results on Monday, November 5th. The financial services provider reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The firm had revenue of $37.01 million during the quarter, compared to analyst estimates of $39.59 million. Solar Capital had a return on equity of 8.12% and a net margin of 48.83%. Research analysts predict that Solar Capital will post 1.77 EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Coe Capital Management LLC increased its position in shares of Solar Capital by 6.6% during the third quarter. Coe Capital Management LLC now owns 47,120 shares of the financial services provider’s stock worth $1,007,000 after acquiring an additional 2,900 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Solar Capital by 2.5% during the second quarter. Citadel Advisors LLC now owns 131,509 shares of the financial services provider’s stock worth $2,689,000 after acquiring an additional 3,188 shares in the last quarter. Legal & General Group Plc increased its position in shares of Solar Capital by 6.3% during the second quarter. Legal & General Group Plc now owns 165,712 shares of the financial services provider’s stock worth $3,388,000 after acquiring an additional 9,820 shares in the last quarter. FDx Advisors Inc. bought a new stake in shares of Solar Capital during the second quarter worth $207,000. Finally, Sei Investments Co. increased its position in shares of Solar Capital by 6.2% during the second quarter. Sei Investments Co. now owns 183,341 shares of the financial services provider’s stock worth $3,747,000 after acquiring an additional 10,759 shares in the last quarter. Institutional investors own 59.14% of the company’s stock.
About Solar Capital
Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.
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