Saratoga Investment (NYSE:SAR) Given New $21.00 Price Target at Oppenheimer

Saratoga Investment (NYSE:SAR) had its price target lowered by equities research analysts at Oppenheimer from $22.00 to $21.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Oppenheimer’s target price would suggest a potential upside of 16.21% from the stock’s previous close.

A number of other research analysts have also recently issued reports on SAR. Weiss Ratings reissued a “hold (c)” rating on shares of Saratoga Investment in a research report on Wednesday, June 24th. Wall Street Zen cut shares of Saratoga Investment from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Six equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Saratoga Investment currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Saratoga Investment Price Performance

Shares of SAR stock opened at $18.07 on Thursday. The business’s 50 day moving average price is $22.21 and its 200-day moving average price is $22.67. Saratoga Investment has a fifty-two week low of $17.77 and a fifty-two week high of $25.64. The firm has a market cap of $294.02 million, a P/E ratio of 18.08 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.04 and a current ratio of 0.04.

Saratoga Investment (NYSE:SAR) last issued its quarterly earnings data on Tuesday, July 7th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07). Saratoga Investment had a net margin of 12.70% and a return on equity of 8.61%. The company had revenue of ($12.15) million for the quarter, compared to analysts’ expectations of $31.38 million. On average, equities research analysts anticipate that Saratoga Investment will post 2.15 earnings per share for the current year.

Institutional Trading of Saratoga Investment

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Investment Advisers raised its position in shares of Saratoga Investment by 2.2% during the 1st quarter. Cetera Investment Advisers now owns 22,301 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 476 shares during the period. Royal Bank of Canada lifted its position in shares of Saratoga Investment by 3.2% in the first quarter. Royal Bank of Canada now owns 17,950 shares of the financial services provider’s stock valued at $393,000 after acquiring an additional 557 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Saratoga Investment in the third quarter worth about $25,000. Osaic Holdings Inc. boosted its stake in shares of Saratoga Investment by 24.0% in the second quarter. Osaic Holdings Inc. now owns 6,256 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 1,211 shares during the period. Finally, Lido Advisors LLC grew its position in shares of Saratoga Investment by 0.6% during the fourth quarter. Lido Advisors LLC now owns 199,138 shares of the financial services provider’s stock worth $4,855,000 after purchasing an additional 1,265 shares in the last quarter. 19.09% of the stock is owned by hedge funds and other institutional investors.

Saratoga Investment Company Profile

Saratoga Investment Corp. is a closed-end, externally managed investment company that seeks to generate current income and total return through a diversified portfolio of private U.S. companies. Trading on the New York Stock Exchange under the ticker SAR, the firm primarily targets middle-market businesses across a broad range of industries, including industrials, healthcare, consumer products, financial services and technology. Its investment approach combines debt and equity instruments, providing flexible capital solutions such as first-lien and second-lien secured loans, mezzanine debt, preferred equity and common equity positions.

As an actively managed vehicle, Saratoga Investment works closely with portfolio companies’ management teams to support growth initiatives, operational improvements, and strategic transactions.