Ares Capital Initiated with a Hold at Janney Montgomery

By Jason Carr

Ares Capital (NASDAQ: ARCC) received a Hold rating and a $16.50 price target from Janney Montgomery analyst Mitchel Penn today. The company’s shares closed last Friday at $15.48.

According to TipRanks.com, Penn is ranked #880 out of 4178 analysts.

Ares Capital has an analyst consensus of Moderate Buy, with a price target consensus of $17.

The company has a one year high of $16.43 and a one year low of $12.31. Currently, Ares Capital has an average volume of 2M.

Allied Capital Corp, a business development company, or BDC (NYSE: ALD), primarily invests in private middle market companies with EBITDA between $5 million and $150 million in a variety of industries through long-term debt and equity capital instruments. It generally invests in established companies with adequate cash flow for debt service.