The stock of Ares Capital Corporation (NASDAQ:ARCC) has been Downgraded to Neutral from Buy by Compass Point in its latest research note that was published on August 23. BMO Capital Markets analysts bumped their recommendation on ARCC stock from Market Perform to Outperform in a separate flash note to investors on August 19.
Ares’s stock is covered by 15 analyst(s), with 11 of them rating the stock as Buy. It has been deemed to have Strong Buy by 1 of the analyst(s), 3 of them have rated it as a Hold while none of them rated it as Sell. The situation was different a month ago when the stock was rated as a Buy by only 11 analyst(s). 1 of them rated it as Strong Buy with 3 of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a Sell. The above data shows that ARCC has an average analyst rating of Buy.
ARCC surged by $0.04 during the normal trading session on Tuesday and reaching a high of $18.89 during the day while it closed the day at $18.68. The Ares stock had a low trading volume of 1.50 million shares on that day, which is low compared to the average daily volume of 1.54M shares. ARCC has also lost 1.32% of its value over the past 7 days. However, the stock has surged by 5.05% in the 3 months of the year. Over the past six months meanwhile, it has gained 10.18% while it has added 20.29% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -3.11% from its 3 months high price. However, taking another look at ARCC will indicate that it is trading +5.96% away from its 90-day low. Looking at the bigger picture, the Ares Capital Corporation stock has dropped by -3.11% from its 52-week high while it has surged by +28.83% from its 52-week low price.
On August 14, 2019 McKeever Steven B., Director bought 5425 shares of the company. The average price for that transaction was $18.42 per share, which meant that McKeever Steven B. spent $99928.5 purchasing the stocks. The purchase was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with CFO, ROLL PENELOPE F purchasing 2000 shares of this stock on August 06, 2019. The average purchasing price for the stock was $18.36 per share, with the purchased stock accruing $36720. Following this transaction, the CFO ROLL PENELOPE F now holds 30510 shares of the company, which is worth around $575113.5.
Let us now take a quick look at the stock’s short, medium and long-term indicators. Composite Indicator shows that ARCC stock was rated as a Hold by TrendSpotter. Its short-term indicators reveal that Ares has a 20-day average volume of 1586615 shares. This has led to the ARCC price forecast being placed as a e: 50%Buy on an average basis. In the medium term, however, the ARCC stock has its 50-Day average volume of 1602534 shares, with the indicators also rating it as a : 100%Buy. Finally, in the long-term, the ARCC stocks have a 100-Day average volume of 1625921 shares, with the long-term indicators rating the stock as just : 100%Buy. Looking at the three indicators, the ARCC stock has been set on a 0.8 Buy rating.
Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 54.55%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 16.08%. Over the past 20 days, Ares’s Stochastic %K stood at 33.61% while its Stochastic %D was revealed to be 42.84%.