Triangle Capital Corporation (TCAP) Stock Rating Lowered by Hilliard Lyons

Hilliard Lyons downgraded shares of Triangle Capital Corporation (NYSE:TCAP) from a buy rating to a neutral rating in a research report released on Monday, August 7th, Marketbeat.com reports. They currently have $15.50 price target on the credit services provider’s stock, down from their previous price target of $19.00.

A number of other research analysts have also weighed in on the stock. BidaskClub lowered shares of Triangle Capital Corporation from a sell rating to a strong sell rating in a research note on Friday, August 4th. JMP Securities lowered shares of Triangle Capital Corporation from an outperform rating to a market perform rating in a research note on Thursday, August 3rd. Keefe, Bruyette & Woods lowered shares of Triangle Capital Corporation from an outperform rating to a market perform rating and reduced their price objective for the company from $20.50 to $18.00 in a research note on Thursday, August 3rd. ValuEngine upgraded shares of Triangle Capital Corporation from a hold rating to a buy rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research lowered shares of Triangle Capital Corporation from a hold rating to a sell rating in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $18.75.

Shares of Triangle Capital Corporation (NYSE TCAP) traded down 1.11% during midday trading on Monday, hitting $13.36. The stock had a trading volume of 411,942 shares. The company has a market cap of $637.87 million, a price-to-earnings ratio of 27.78 and a beta of 0.90. The stock’s 50-day moving average price is $16.31 and its 200 day moving average price is $18.04. Triangle Capital Corporation has a 52 week low of $13.25 and a 52 week high of $20.35.

Triangle Capital Corporation (NYSE:TCAP) last released its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by $0.01. Triangle Capital Corporation had a net margin of 16.92% and a return on equity of 10.51%. The business had revenue of $31.20 million during the quarter, compared to analysts’ expectations of $33.25 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Triangle Capital Corporation will post $1.67 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 13.47%. The ex-dividend date of this dividend is Friday, September 1st. Triangle Capital Corporation’s payout ratio is 346.16%.

In other Triangle Capital Corporation news, insider C. Robert Jr. Knox sold 3,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $17.72, for a total value of $53,160.00. Following the completion of the transaction, the insider now directly owns 75,716 shares of the company’s stock, valued at approximately $1,341,687.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.10% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Muzinich & Co. Inc. increased its stake in Triangle Capital Corporation by 8.8% in the second quarter. Muzinich & Co. Inc. now owns 1,946,091 shares of the credit services provider’s stock worth $34,290,000 after buying an additional 157,458 shares in the last quarter. Wells Fargo & Company MN increased its stake in Triangle Capital Corporation by 3.8% in the second quarter. Wells Fargo & Company MN now owns 1,431,092 shares of the credit services provider’s stock worth $25,216,000 after buying an additional 52,878 shares in the last quarter. UBS Group AG increased its stake in Triangle Capital Corporation by 47.7% in the first quarter. UBS Group AG now owns 831,395 shares of the credit services provider’s stock worth $15,872,000 after buying an additional 268,535 shares in the last quarter. Van ECK Associates Corp increased its stake in Triangle Capital Corporation by 13.6% in the second quarter. Van ECK Associates Corp now owns 413,691 shares of the credit services provider’s stock worth $7,289,000 after buying an additional 49,381 shares in the last quarter. Finally, Ares Management LLC increased its stake in Triangle Capital Corporation by 26.1% in the second quarter. Ares Management LLC now owns 405,456 shares of the credit services provider’s stock worth $714,413,000 after buying an additional 83,876 shares in the last quarter. 32.35% of the stock is owned by institutional investors.

About Triangle Capital Corporation

Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.

Analyst Recommendations for Triangle Capital Corporation (NYSE:TCAP)

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