Raymond James Increases Apollo Investment (AINV) Price Target to $21.00

Apollo Investment (NASDAQ:AINV) had its target price raised by equities research analysts at Raymond James from $7.00 to $21.00 in a research note issued to investors on Tuesday. The firm currently has an “outperform” rating on the asset manager’s stock. Raymond James’ price target suggests a potential upside of 35.57% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Citigroup started coverage on shares of Apollo Investment in a report on Thursday, August 23rd. They set a “sell” rating and a $15.00 target price for the company. National Securities restated a “neutral” rating and set a $18.00 target price on shares of Apollo Investment in a report on Wednesday, August 15th. Wells Fargo & Co reduced their target price on shares of Apollo Investment from $21.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, October 4th. ValuEngine cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, BidaskClub cut shares of Apollo Investment from a “buy” rating to a “hold” rating in a report on Saturday, August 11th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Apollo Investment has an average rating of “Hold” and a consensus target price of $18.21.

Apollo Investment stock opened at $15.49 on Tuesday. The company has a market capitalization of $1.11 billion, a PE ratio of 8.46, a P/E/G ratio of 1.71 and a beta of 0.82. Apollo Investment has a twelve month low of $14.84 and a twelve month high of $18.00. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.69.

Apollo Investment (NASDAQ:AINV) last released its quarterly earnings results on Tuesday, October 30th. The asset manager reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The company had revenue of $66.03 million during the quarter, compared to analysts’ expectations of $67.38 million. Apollo Investment had a net margin of 26.47% and a return on equity of 9.22%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 earnings per share. As a group, equities research analysts predict that Apollo Investment will post 1.81 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Telemus Capital LLC lifted its stake in Apollo Investment by 1.5% in the third quarter. Telemus Capital LLC now owns 1,352,893 shares of the asset manager’s stock valued at $7,360,000 after acquiring an additional 19,493 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Apollo Investment by 8.0% in the second quarter. Wells Fargo & Company MN now owns 4,291,447 shares of the asset manager’s stock valued at $23,902,000 after acquiring an additional 317,111 shares during the last quarter. Rational Advisors LLC lifted its stake in Apollo Investment by 56.7% in the third quarter. Rational Advisors LLC now owns 183,980 shares of the asset manager’s stock valued at $1,001,000 after acquiring an additional 66,540 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Apollo Investment by 20.8% in the second quarter. Macquarie Group Ltd. now owns 103,242 shares of the asset manager’s stock valued at $575,000 after acquiring an additional 17,800 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in Apollo Investment by 58.2% in the second quarter. Raymond James & Associates now owns 130,538 shares of the asset manager’s stock valued at $727,000 after acquiring an additional 48,000 shares during the last quarter. Institutional investors and hedge funds own 44.56% of the company’s stock.

About Apollo Investment

Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products.

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