Main Street Capital (NYSE:MAIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage presently has a $43.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.52% from the company’s current price.
According to Zacks, “Main Street Capital Corporation is a specialty investment company providing customized financing solutions to lower middle market companies which operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides one stop financing alternatives to its portfolio companies. “
MAIN has been the subject of a number of other reports. Raymond James upgraded Main Street Capital from a “market perform” rating to an “outperform” rating and set a $41.00 target price for the company in a research note on Monday, November 5th. They noted that the move was a valuation call. National Securities restated a “neutral” rating and issued a $38.00 target price on shares of Main Street Capital in a research note on Monday, November 5th. Finally, Janney Montgomery Scott set a $35.00 target price on Main Street Capital and gave the company a “hold” rating in a research note on Friday, November 2nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Main Street Capital has a consensus rating of “Hold” and a consensus target price of $39.50.
Shares of Main Street Capital stock opened at $37.88 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $2.33 billion, a P/E ratio of 15.85 and a beta of 0.81. Main Street Capital has a fifty-two week low of $34.37 and a fifty-two week high of $40.82.
Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The firm had revenue of $58.26 million during the quarter, compared to analyst estimates of $59.19 million. Main Street Capital had a return on equity of 10.61% and a net margin of 95.77%. Main Street Capital’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. Equities research analysts anticipate that Main Street Capital will post 2.54 earnings per share for the current fiscal year.
In related news, Chairman Vincent D. Foster bought 25,869 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was bought at an average cost of $38.66 per share, for a total transaction of $1,000,095.54. Following the completion of the purchase, the chairman now directly owns 1,583,565 shares in the company, valued at approximately $61,220,622.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.31% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Green Square Capital LLC acquired a new position in shares of Main Street Capital during the second quarter worth approximately $203,000. Good Life Advisors LLC acquired a new position in shares of Main Street Capital during the third quarter worth approximately $204,000. Paloma Partners Management Co acquired a new position in shares of Main Street Capital during the third quarter worth approximately $210,000. Trexquant Investment LP acquired a new position in shares of Main Street Capital during the third quarter worth approximately $211,000. Finally, Comerica Bank acquired a new position in shares of Main Street Capital during the third quarter worth approximately $221,000. Institutional investors and hedge funds own 23.45% of the company’s stock.
About Main Street Capital
Main Street Capital Corporation is a business development company specializing in long- term equity and debt investments in small and lower middle market companies. The firm focuses on investments in, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, change of control transactions, ownership transitions, recapitalizations, strategic acquisitions, refinancing, business expansion capital, growth financings, family estate planning, and other growth initiatives primarily for later stage businesses.
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