Ares Capital Corporation (NASDAQ:ARCC) traded at an unexpectedly high level on 2/13/2017 when the stock experienced a 0.63 loss to a closing price of $17.58. The company saw 5.52 million shares trade hands over the course of the day. Given that its average daily volume over the 30 days has been 3 million shares a day, this signifies a pretty significant change over the norm.Ares Capital Corporation (ARCC) Analyst Gushes
Analysts are speculating a 8.08% move, based on the high target price ($19) for the shares that is set to reach in the next 12 months. The analysts, on average, are forecasting a $17.15 price target, but the stock is already up 58% from its recent lows. However, the stock is trading at 0.23% versus recent highs ($17.6). Analysts believe that we could see stock price minimum in the $15 range (lowest target price), allowing for another -14.68% drop from its current position. Leading up to this report, we have seen a 4.46% rise in the stock price over the last 30 days and a 15.81% increase over the past 3 months. Overall, the share price is up 6.61% so far this year. Additionally, ARCC had a day price range of $17.45 to $17.6.Ares Capital Corporation Rating Changes
Several analysts are currently covering the company. National Securities, Macquarie, Raymond James, Cantor Fitzgerald, Jefferies, Keefe Bruyette, BB&T Capital Mkts, Barclays, and Barclays Capital are among others. The latest initiating coverage report came from National Securities on Jun 28, 2016. The stock has been given a Neutral rating. In a separate analyst note, Macquarie upgraded the stock on Oct 01, 2015. The firm had put out a Outperform rating. The stock was previously classified as Neutral. Back on Aug 28, 2015, an upgrade report came from analysts at Raymond James who in their research report assigned Outperform rating on the stock. The brokerage had Mkt Perform rating prior to this move.
Heading into the stock price potential, Ares Capital Corporation by far traveled -3.3% after crossing its median price target of $17. Given that liquidity is king in short-term, ARCC is a stock with 312.34 million shares outstanding that normally trades 2.37% of its float. The stock price recently experienced a 5-day gain of 1.62% with 0.21 average true range (ATR). ARCC has a beta of 0.67 and RSI is 70.91.