Hercules Capital (NYSE:HTGC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Shares of Hercules Capital have outperformed the industry, in the past three months. The company’s earnings surpassed the Zacks Consensus Estimate in only one of the trailing four quarters. The company is likely to witness growing demand for customized financing, based on market optimism for public equities and an improving economic environment. Also, its steady capital deployment activities should continue to boost investors' confidence in the stock. However, an increase in expenses, primarily due to the company’s efforts toward improving originations, is expected to hurt bottom-line growth in the near term. Also, concentration risk continues to be a major concern for the company.”
HTGC has been the subject of a number of other reports. ValuEngine upgraded shares of Hercules Capital from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Raymond James Financial upgraded shares of Hercules Capital from an “underperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Ladenburg Thalmann Financial Services started coverage on shares of Hercules Capital in a research note on Monday, November 20th. They issued a “buy” rating and a $14.50 price objective for the company. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $15.00 price objective on shares of Hercules Capital in a research note on Tuesday, October 24th. Finally, Wedbush started coverage on shares of Hercules Capital in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $13.25 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $14.30.
Shares of Hercules Capital (NYSE:HTGC) traded up $0.06 during mid-day trading on Tuesday, hitting $13.06. 374,770 shares of the stock traded hands, compared to its average volume of 353,367. The company has a debt-to-equity ratio of 0.87, a quick ratio of 8.34 and a current ratio of 8.34. Hercules Capital has a 12 month low of $11.64 and a 12 month high of $15.68. The stock has a market cap of $1,100.00, a price-to-earnings ratio of 14.35, a P/E/G ratio of 2.03 and a beta of 0.87.
Hercules Capital (NYSE:HTGC) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. Hercules Capital had a net margin of 39.73% and a return on equity of 12.93%. The company had revenue of $45.90 million during the quarter, compared to analyst estimates of $46.22 million. During the same quarter last year, the business posted $0.32 EPS. Hercules Capital’s quarterly revenue was up 1.8% compared to the same quarter last year. equities research analysts anticipate that Hercules Capital will post 1.16 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. Sit Investment Associates Inc. bought a new position in Hercules Capital in the 4th quarter valued at $323,000. Confluence Investment Management LLC boosted its holdings in Hercules Capital by 5.0% in the 4th quarter. Confluence Investment Management LLC now owns 806,620 shares of the financial services provider’s stock valued at $10,583,000 after purchasing an additional 38,390 shares during the period. First National Bank of Mount Dora Trust Investment Services bought a new position in Hercules Capital in the 4th quarter valued at $131,000. Atlantic Trust Group LLC boosted its holdings in Hercules Capital by 450.9% in the 3rd quarter. Atlantic Trust Group LLC now owns 172,589 shares of the financial services provider’s stock valued at $2,227,000 after purchasing an additional 141,259 shares during the period. Finally, Shelton Capital Management bought a new position in Hercules Capital in the 3rd quarter valued at $593,000. 38.85% of the stock is owned by hedge funds and other institutional investors.
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Hercules Capital Company Profile
Hercules Capital, Inc is a specialty finance company. The Company is an internally managed, non-diversified, closed-end investment company. The Company focuses on providing senior secured venture growth loans to venture capital-backed companies in a range of technology, life sciences, and sustainable and renewable technology industries.
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