Triangle Capital Corporation (NYSE:TCAP) was downgraded by equities research analysts at Jefferies Group LLC from a “buy” rating to a “hold” rating in a report issued on Thursday.
Several other equities analysts have also recently issued reports on TCAP. ValuEngine upgraded Triangle Capital Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Keefe, Bruyette & Woods lowered Triangle Capital Corporation from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $20.50 to $18.00 in a research report on Thursday, August 3rd. JMP Securities lowered Triangle Capital Corporation from an “outperform” rating to a “market perform” rating in a report on Thursday, August 3rd. BidaskClub lowered Triangle Capital Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Finally, Hilliard Lyons lowered Triangle Capital Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the company from $19.00 to $15.50 in a report on Monday, August 7th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $16.57.
Shares of Triangle Capital Corporation (NYSE TCAP) opened at $9.61 on Thursday. Triangle Capital Corporation has a 52-week low of $8.91 and a 52-week high of $20.35. The stock has a market capitalization of $446.38, a PE ratio of 5.91, a P/E/G ratio of 1.22 and a beta of 0.91. The company has a current ratio of 56.98, a quick ratio of 56.98 and a debt-to-equity ratio of 0.87.
Triangle Capital Corporation (NYSE:TCAP) last announced its earnings results on Wednesday, November 1st. The credit services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). The firm had revenue of $29.88 million for the quarter, compared to analysts’ expectations of $32.84 million. Triangle Capital Corporation had a negative net margin of 36.80% and a positive return on equity of 10.67%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share. analysts predict that Triangle Capital Corporation will post 1.56 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Triangle Capital Corporation by 32.4% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 410,008 shares of the credit services provider’s stock worth $5,854,000 after purchasing an additional 100,378 shares during the period. BB&T Securities LLC increased its stake in Triangle Capital Corporation by 74.5% during the second quarter. BB&T Securities LLC now owns 157,181 shares of the credit services provider’s stock valued at $2,770,000 after acquiring an additional 67,097 shares during the period. Ares Management LLC increased its stake in Triangle Capital Corporation by 26.1% during the second quarter. Ares Management LLC now owns 405,456 shares of the credit services provider’s stock valued at $714,413,000 after acquiring an additional 83,876 shares during the period. JPMorgan Chase & Co. increased its stake in Triangle Capital Corporation by 649.1% during the first quarter. JPMorgan Chase & Co. now owns 16,795 shares of the credit services provider’s stock valued at $321,000 after acquiring an additional 14,553 shares during the period. Finally, First Personal Financial Services bought a new position in Triangle Capital Corporation during the second quarter valued at about $1,908,000. 33.83% of the stock is owned by hedge funds and other 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.
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