Barclays Reiterates “$8.00” Price Target for FS Investment (FSIC)
Barclays set a $8.00 price objective on FS Investment (NYSE:FSIC) in a research report report published on Saturday morning. The firm currently has a hold rating on the financial services provider’s stock.
A number of other analysts have also recently weighed in on FSIC. Zacks Investment Research upgraded shares of FS Investment from a hold rating to a buy rating and set a $7.75 price target for the company in a research note on Wednesday, October 10th. National Securities reiterated a buy rating and set a $11.00 price target on shares of FS Investment in a research note on Monday, August 13th. Keefe, Bruyette & Woods reiterated a hold rating and set a $8.00 price target on shares of FS Investment in a research note on Friday, August 10th. Wells Fargo & Co cut shares of FS Investment from an outperform rating to a market perform rating in a research note on Thursday, October 4th. Finally, ValuEngine upgraded shares of FS Investment from a strong sell rating to a sell rating in a research note on Saturday, September 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $8.31.
Shares of FS Investment stock opened at $6.33 on Friday. FS Investment has a 12-month low of $6.22 and a 12-month high of $8.30. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $1.57 billion, a PE ratio of 7.63, a P/E/G ratio of 2.76 and a beta of 0.96.
The firm also recently declared a special dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be paid a dividend of $0.09 per share. This represents a yield of 11.53%. The ex-dividend date is Friday, November 16th. FS Investment’s dividend payout ratio is currently 91.57%.
A number of large investors have recently modified their holdings of the stock. GWM Advisors LLC boosted its stake in FS Investment by 8.2% during the 3rd quarter. GWM Advisors LLC now owns 106,909 shares of the financial services provider’s stock worth $754,000 after purchasing an additional 8,142 shares during the period. Northern Trust Corp lifted its stake in shares of FS Investment by 17.7% in the 2nd quarter. Northern Trust Corp now owns 57,850 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 8,717 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of FS Investment by 85.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 22,205 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 10,251 shares during the period. Canal Capital Management LLC lifted its stake in shares of FS Investment by 11.8% in the 2nd quarter. Canal Capital Management LLC now owns 127,596 shares of the financial services provider’s stock worth $938,000 after acquiring an additional 13,503 shares during the period. Finally, Fisher Asset Management LLC acquired a new stake in shares of FS Investment in the 2nd quarter worth $100,000. Hedge funds and other institutional investors own 29.91% of the company’s stock.
About FS Investment
FS Investment Corporation is a business development company specializing in investments in debt securities. It seeks to purchase interests in loans through secondary market transactions or directly from the target companies as primary market investments. It also seeks to invest in first lien senior secured loans, second lien secured loans and, to a lesser extent, subordinated loans, or mezzanine loans.
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