B.Riley FBR Believes Saratoga Investment Corp (NYSE: SAR) Still Has Room to Grow

By Carrie Williams

In a report released today, Timothy P. Hayes from B.Riley FBR reiterated a Buy rating on Saratoga Investment Corp (SARResearch Report), with a price target of $26. The company’s shares closed yesterday at $24.58, close to its 52-week high of $25.65.

Hayes noted:

“We reiterate our Buy rating and $26 PT on shares of Saratoga Investment Corp. (SAR), following F1Q20 results that beat B. Riley FBR and Street estimates and included another quarter of NAV growth. Saratoga reported F1Q20 adjusted NII per share of $0.60, above B. Riley FBR and Street estimates of $0.58 and $0.59, respectively, and handily covering the $0.55/share dividend. Credit quality remains strong, with non-accruals accounting for only 1.2% of the portfolio and Credit Watch List investments generating a mere $0.02/share of annual interest income. Reflecting strong credit quality/underwriting, accretive ATM share issuances, and earnings power ahead of the dividend, NAV share grew 1.9% Q/Q.”

According to TipRanks.com, Hayes is a 4-star analyst with an average return of 7.9% and a 79.7% success rate. Hayes covers the Financial sector, focusing on stocks such as Fidus Investment Corporation, Ready Capital Corporation, and Starwood Property Trust.

Saratoga Investment Corp has an analyst consensus of Moderate Buy, with a price target consensus of $25.67.

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The company has a one-year high of $25.65 and a one-year low of $18.60. Currently, Saratoga Investment Corp has an average volume of 43.63K.

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Saratoga Investment Corp. is a specialty finance company, which engages in the provision of financing solutions. Its portfolio includes investments in leveraged loans issued by middle market companies. The company was founded on March 21, 2007 and is headquartered in New York, NY.