Jefferies Group LLC reissued their buy rating on shares of Triangle Capital Co. (NYSE:TCAP) in a research report released on Wednesday morning. The firm currently has a $18.00 target price on the credit services provider’s stock, down from their prior target price of $23.00.
Other equities research analysts also recently issued reports about the company. ValuEngine downgraded Triangle Capital from a buy rating to a hold rating in a research report on Friday, June 30th. BidaskClub downgraded Triangle Capital from a hold rating to a sell rating in a research report on Sunday, July 16th. Wunderlich assumed coverage on Triangle Capital in a research report on Wednesday, May 17th. They issued a buy rating and a $23.00 target price on the stock. Zacks Investment Research upgraded Triangle Capital from a sell rating to a hold rating in a research report on Friday, May 12th. Finally, Keefe, Bruyette & Woods downgraded Triangle Capital from an outperform rating to a market perform rating and decreased their target price for the stock from $20.50 to $18.00 in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $18.75.
Shares of Triangle Capital (TCAP) traded up 0.80% during trading on Wednesday, hitting $13.84. The stock had a trading volume of 582,592 shares. Triangle Capital has a 12 month low of $13.45 and a 12 month high of $20.35. The company has a market cap of $660.79 million, a PE ratio of 28.77 and a beta of 0.90. The stock has a 50 day moving average of $16.89 and a 200 day moving average of $18.24.
Triangle Capital (NYSE:TCAP) last posted its earnings results on Wednesday, August 2nd. The credit services provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by $0.01. The firm had revenue of $31.20 million during the quarter, compared to analysts’ expectations of $33.25 million. Triangle Capital had a negative return on equity of 1.13% and a negative net margin of 6.50%. Triangle Capital’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. Equities analysts forecast that Triangle Capital will post $1.67 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a yield of 13.01%. Triangle Capital’s dividend payout ratio (DPR) is presently 346.16%.
In other Triangle Capital news, insider C. Robert Jr. Knox sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $17.72, for a total transaction of $53,160.00. Following the sale, the insider now directly owns 75,716 shares in the company, valued at $1,341,687.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.10% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Muzinich & Co. Inc. increased its stake in shares of Triangle Capital by 8.8% in the second quarter. Muzinich & Co. Inc. now owns 1,946,091 shares of the credit services provider’s stock worth $34,290,000 after buying an additional 157,458 shares during the period. Wells Fargo & Company MN increased its stake in shares of Triangle Capital by 3.8% in the second quarter. Wells Fargo & Company MN now owns 1,431,092 shares of the credit services provider’s stock worth $25,216,000 after buying an additional 52,878 shares during the period. UBS Group AG increased its stake in shares of Triangle Capital by 47.7% in the first quarter. UBS Group AG now owns 831,395 shares of the credit services provider’s stock worth $15,872,000 after buying an additional 268,535 shares during the period. Van ECK Associates Corp increased its stake in shares of Triangle Capital by 13.6% in the second quarter. Van ECK Associates Corp now owns 413,691 shares of the credit services provider’s stock worth $7,289,000 after buying an additional 49,381 shares during the period. Finally, Morgan Stanley increased its stake in shares of Triangle Capital by 3.3% in the first quarter. Morgan Stanley now owns 333,326 shares of the credit services provider’s stock worth $6,363,000 after buying an additional 10,678 shares during the period. Institutional investors and hedge funds own 31.86% of the company’s stock.
About Triangle Capital
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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