Triangle Capital Corporation (NYSE:TCAP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “TRIANGLE CAPITAL CORPORATION is a specialty finance company organized to provide customized financing solutions to lower middle market companies located throughout the United States. Triangle’s investment objective is to seek attractive returns by generating current income from debt investments and capital appreciation from equity related investments. Triangle’s investment philosophy is to partner with business owners, management teams and financial sponsors to provide flexible financing solutions to fund growth, changes of control, or other corporate events. “

A number of other analysts have also weighed in on the stock. Robert W. Baird raised shares of Triangle Capital Corporation from a “neutral” rating to an “outperform” rating and set a $16.00 price objective for the company in a research note on Monday, August 28th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $18.00 price objective (down from $23.00) on shares of Triangle Capital Corporation in a research note on Wednesday, August 9th. ValuEngine lowered shares of Triangle Capital Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Aegis started coverage on shares of Triangle Capital Corporation in a research note on Monday, June 26th. They issued a “buy” rating for the company. Finally, Hilliard Lyons raised shares of Triangle Capital Corporation from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Monday, June 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Triangle Capital Corporation currently has an average rating of “Hold” and an average price target of $18.36.

Triangle Capital Corporation (NYSE:TCAP) last released its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.01). Triangle Capital Corporation had a return on equity of 10.51% and a net margin of 16.92%. The business had revenue of $31.20 million during the quarter, compared to analysts’ expectations of $33.25 million. During the same period last year, the company earned $0.49 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year.

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Several hedge funds have recently added to or reduced their stakes in the business. Gs Investments Inc. purchased a new stake in shares of Triangle Capital Corporation during the second quarter valued at about $338,000. WFG Advisors LP purchased a new stake in shares of Triangle Capital Corporation during the second quarter valued at about $101,000. Wasatch Advisors Inc. purchased a new stake in shares of Triangle Capital Corporation during the second quarter valued at about $235,000. IHT Wealth Management LLC lifted its position in shares of Triangle Capital Corporation by 11.4% during the second quarter. IHT Wealth Management LLC now owns 2,450 shares of the credit services provider’s stock valued at $249,000 after buying an additional 250 shares during the last quarter. Finally, Ares Management LLC lifted its position in shares of 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 buying an additional 83,876 shares during the last quarter. 31.36% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Triangle Capital Corporation (NYSE:TCAP)

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