Solar Capital (SLRC) Lowered to Strong Sell at BidaskClub

BidaskClub cut shares of Solar Capital (NASDAQ:SLRC) from a sell rating to a strong sell rating in a research note issued to investors on Friday.

Several other research analysts have also recently commented on the stock. Keefe, Bruyette & Woods upgraded shares of Solar Capital from a market perform rating to an outperform rating and set a $23.00 target price for the company in a research report on Friday, January 12th. National Securities restated a buy rating and issued a $25.00 target price on shares of Solar Capital in a research report on Friday, February 2nd. JMP Securities upgraded shares of Solar Capital from a market perform rating to an outperform rating in a research report on Tuesday, January 16th. Finally, Zacks Investment Research cut shares of Solar Capital from a hold rating to a sell rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Solar Capital has a consensus rating of Hold and a consensus target price of $23.67.

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NASDAQ SLRC traded down $0.15 on Friday, hitting $20.35. The stock had a trading volume of 52,145 shares, compared to its average volume of 103,063. Solar Capital has a one year low of $19.70 and a one year high of $22.94. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market cap of $866.35, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 2.31 and a beta of 0.54.

Solar Capital (NASDAQ:SLRC) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. Solar Capital had a net margin of 49.14% and a return on equity of 7.43%. The firm had revenue of $38.91 million during the quarter, compared to analysts’ expectations of $37.65 million. equities research analysts expect that Solar Capital will post 1.78 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of Solar Capital by 3.0% in the third quarter. JPMorgan Chase & Co. now owns 520,778 shares of the financial services provider’s stock valued at $11,259,000 after acquiring an additional 15,314 shares in the last quarter. West Family Investments Inc. boosted its holdings in shares of Solar Capital by 1.7% in the fourth quarter. West Family Investments Inc. now owns 487,013 shares of the financial services provider’s stock valued at $9,850,000 after acquiring an additional 8,000 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Solar Capital by 263.7% in the fourth quarter. Millennium Management LLC now owns 344,680 shares of the financial services provider’s stock valued at $6,966,000 after acquiring an additional 249,906 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Solar Capital by 69.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 340,634 shares of the financial services provider’s stock valued at $6,884,000 after acquiring an additional 140,121 shares in the last quarter. Finally, Ares Management LLC boosted its holdings in shares of Solar Capital by 25.1% in the fourth quarter. Ares Management LLC now owns 305,574 shares of the financial services provider’s stock valued at $6,176,000 after acquiring an additional 61,384 shares in the last quarter. Institutional investors and hedge funds own 62.05% of the company’s stock.

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About Solar Capital

Solar Capital Ltd is a business development company that seeks investment opportunities in middle market companies located in the US. The fund targets companies operating in the fields of aerospace & defense, automobile, banking, beverage, food & tobacco, buildings & real estate, broadcasting & entertainment, cargo transport, chemicals, plastics & rubber, containers, packaging & glass, diversified or conglomerate manufacturing, diversified financial services, electronics, farming & agriculture, finance, grocery, healthcare, education & childcare, home, office furnishings & durable consumer products, hotels, motels, inns & gaming, insurance, IT services, leisure, amusement & entertainment, machinery, mining, steel, iron & non-precious metals, personal & nondurable consumer products, personal, food &services, personal transportation, professional services, retail stores, software, telecommunications, textiles and leather, and utilities.

Analyst Recommendations for Solar Capital (NASDAQ:SLRC)

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