Triangle Capital Corporation (TCAP) Rating Increased to Buy at Hilliard Lyons
Triangle Capital Corporation (NYSE:TCAP) was upgraded by equities research analysts at Hilliard Lyons from a “neutral” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $14.00 price objective on the credit services provider’s stock. Hilliard Lyons’ price target would suggest a potential upside of 11.02% from the stock’s current price.
A number of other research firms have also weighed in on TCAP. Aegis began coverage on Triangle Capital Corporation in a research note on Monday, June 26th. They issued a “buy” rating on the stock. ValuEngine lowered Triangle Capital Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. BidaskClub lowered Triangle Capital Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Zacks Investment Research lowered Triangle Capital Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Finally, Keefe, Bruyette & Woods lowered Triangle Capital Corporation from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $20.50 to $18.00 in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Triangle Capital Corporation currently has a consensus rating of “Hold” and an average price target of $18.36.
Shares of Triangle Capital Corporation (TCAP) traded up 1.67% on Wednesday, hitting $12.82. 283,751 shares of the stock traded hands. The firm has a market cap of $612.09 million, a PE ratio of 26.65 and a beta of 0.92. The firm has a 50 day moving average price of $13.81 and a 200 day moving average price of $16.47. Triangle Capital Corporation has a 52-week low of $12.65 and a 52-week high of $20.35.
Triangle Capital Corporation (NYSE:TCAP) last released its earnings results on Wednesday, August 2nd. The credit services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the business earned $0.49 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Triangle Capital Corporation will post $1.67 EPS for the current year.
A number of hedge funds have recently modified their holdings of TCAP. WFG Advisors LP bought a new stake in Triangle Capital Corporation during the second quarter valued at about $101,000. Sigma Planning Corp bought a new stake in Triangle Capital Corporation during the second quarter valued at about $181,000. Trust Co. of Vermont boosted its position in Triangle Capital Corporation by 139.9% during the second quarter. Trust Co. of Vermont now owns 13,342 shares of the credit services provider’s stock valued at $235,000 after purchasing an additional 7,781 shares in the last quarter. Wasatch Advisors Inc. bought a new stake in Triangle Capital Corporation during the second quarter valued at about $235,000. Finally, IHT Wealth Management LLC boosted its position in 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 purchasing an additional 250 shares in the last quarter. 31.36% of the stock is currently owned by 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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