Triangle Capital Corporation (NYSE:TCAP) Lifted to Buy at ValuEngine

Triangle Capital Corporation (NYSE:TCAP) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, August 1st.

A number of other analysts have also commented on TCAP. National Securities reissued a “buy” rating and issued a $22.00 target price on shares of Triangle Capital Corporation in a report on Monday, May 8th. Zacks Investment Research downgraded Triangle Capital Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and issued a $23.00 price target on shares of Triangle Capital Corporation in a research note on Friday, May 5th. BidaskClub downgraded Triangle Capital Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, Wunderlich began coverage on Triangle Capital Corporation in a research note on Wednesday, May 17th. They issued a “buy” rating and a $23.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $18.75.

Shares of Triangle Capital Corporation (NYSE TCAP) traded down 1.11% during mid-day trading on Tuesday, reaching $13.36. The company’s stock had a trading volume of 411,942 shares. Triangle Capital Corporation has a 12 month low of $13.25 and a 12 month high of $20.35. The firm has a market cap of $637.87 million, a PE ratio of 27.78 and a beta of 0.90. The company has a 50-day moving average of $16.31 and a 200-day moving average of $18.04.

Triangle Capital Corporation (NYSE:TCAP) last posted its earnings results on Wednesday, August 2nd. The credit services provider reported $0.41 EPS for the quarter, missing the Zacks’ 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 firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. On average, analysts predict that Triangle Capital Corporation will post $1.67 earnings per share for the current year.

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

A number of large investors have recently modified their holdings of TCAP. Muzinich & Co. Inc. boosted its stake in shares of 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 valued at $34,290,000 after buying an additional 157,458 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of 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 valued at $25,216,000 after buying an additional 52,878 shares during the last quarter. UBS Group AG boosted its stake in shares of 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 valued at $15,872,000 after buying an additional 268,535 shares during the last quarter. Confluence Investment Management LLC boosted its stake in shares of Triangle Capital Corporation by 7.8% in the first quarter. Confluence Investment Management LLC now owns 513,924 shares of the credit services provider’s stock valued at $9,811,000 after buying an additional 37,140 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of 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 valued at $7,289,000 after buying an additional 49,381 shares during the last quarter. 32.35% of the stock is currently owned by institutional investors.

Triangle Capital Corporation Company Profile

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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Analyst Recommendations for Triangle Capital Corporation (NYSE:TCAP)

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