Triangle Capital Corporation (NYSE:TCAP)‘s stock had its “buy” rating restated by equities researchers at Jefferies Group LLC in a report released on Wednesday, August 9th. They presently have a $18.00 price target on the credit services provider’s stock, down from their prior price target of $23.00. Jefferies Group LLC’s price target suggests a potential upside of 34.73% from the stock’s current price.
TCAP has been the topic of several other reports. ValuEngine raised Triangle Capital Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded Triangle Capital Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. Aegis initiated coverage on Triangle Capital Corporation in a research report on Monday, June 26th. They issued a “buy” rating on the stock. National Securities reaffirmed a “buy” rating and issued a $22.00 price target on shares of Triangle Capital Corporation in a research report on Monday, May 8th. Finally, JMP Securities downgraded Triangle Capital Corporation from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Triangle Capital Corporation currently has a consensus rating of “Hold” and a consensus price target of $18.75.
Shares of Triangle Capital Corporation (TCAP) traded down 1.11% during mid-day trading on Wednesday, reaching $13.36. 411,942 shares of the company’s stock traded hands. The company has a market capitalization of $637.87 million, a P/E ratio of 27.78 and a beta of 0.90. Triangle Capital Corporation has a 1-year low of $13.25 and a 1-year high of $20.35. The firm has a 50-day moving average price of $16.31 and a 200-day moving average price of $18.04.
Triangle Capital Corporation (NYSE:TCAP) last issued its quarterly earnings results on Wednesday, August 2nd. The credit services provider reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The business had revenue of $31.20 million during the quarter, compared to the consensus estimate of $33.25 million. Triangle Capital Corporation had a return on equity of 10.51% and a net margin of 16.92%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 earnings per share. On average, equities research analysts forecast that Triangle Capital Corporation will post $1.67 earnings per share for the current fiscal year.
In other news, insider C. Robert Jr. Knox sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $17.72, for a total transaction of $53,160.00. Following the sale, the insider now directly owns 75,716 shares in the company, valued at $1,341,687.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC boosted its stake in Triangle Capital Corporation by 11.4% in the second quarter. IHT Wealth Management LLC now owns 2,450 shares of the credit services provider’s stock worth $249,000 after buying an additional 250 shares in the last quarter. HL Financial Services LLC boosted its stake in shares of Triangle Capital Corporation by 2.7% in the first quarter. HL Financial Services LLC now owns 11,350 shares of the credit services provider’s stock worth $217,000 after buying an additional 300 shares during the period. Wealthsource Partners LLC boosted its stake in shares of Triangle Capital Corporation by 2.7% in the first quarter. Wealthsource Partners LLC now owns 16,415 shares of the credit services provider’s stock worth $313,000 after buying an additional 425 shares during the period. BB&T Corp boosted its stake in shares of Triangle Capital Corporation by 3.0% in the first quarter. BB&T Corp now owns 22,535 shares of the credit services provider’s stock worth $430,000 after buying an additional 659 shares during the period. Finally, Baird Financial Group Inc. boosted its stake in shares of Triangle Capital Corporation by 3.0% in the first quarter. Baird Financial Group Inc. now owns 32,715 shares of the credit services provider’s stock worth $625,000 after buying an additional 939 shares during the period. Institutional investors and hedge funds own 32.35% of the company’s stock.
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.
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