Brokerage firm Raymond James Upgrades its rating on Triangle Capital Corporation(NYSE:TCAP). The shares have been rated Market Perform. Previously, the analysts had a Underperform rating on the shares. The rating by Raymond James was issued on Jun 29, 2016.
In a different note, On May 10, 2016, Jefferies said it Upgrades its rating on Triangle Capital Corporation. The shares have been rated ‘Buy’ by the firm. On May 5, 2016, Raymond James said it Downgrades its rating on Triangle Capital Corporation. The shares have been rated ‘Underperform’ by the firm. On May 5, 2016, Janney Capital said it Upgrades its rating on Triangle Capital Corporation. The shares have been rated ‘Buy’ by the firm. On May 2, 2016, Baird said it Downgrades its rating on Triangle Capital Corporation. The shares have been rated ‘Neutral’ by the firm. On Apr 27, 2016, Janney Capital said it Assumes its rating on Triangle Capital Corporation. The shares have been rated ‘Neutral’ by the firm.
Triangle Capital Corporation (TCAP) made into the market gainers list on Fridays trading session with the shares advancing 0.93% or 0.18 points. Due to strong positive momentum, the stock ended at $19.56, which is also near the day’s high of $19.58. The stock began the session at $19.4 and the volume stood at 1,46,516 shares. The 52-week high of the shares is $23.7 and the 52 week low is $14.91. The company has a current market capitalization of $657 M and it has 3,35,76,436 shares in outstanding.
Triangle Capital Corporation(TCAP) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $26.66M. Analysts had an estimated revenue of $30.73M. Earnings per share were $0.45. Analysts had estimated an EPS of $0.42.
Several Insider Transactions has been reported to the SEC. On May 10, 2016, Simon B. Jr. Rich (director) purchased 5,000 shares at $17.30 per share price.Also, On May 10, 2016, Sherwood Hubbard Jr. Smith (director) purchased 4,000 shares at $17.12 per share price.On May 9, 2016, E. Ashton Poole (CEO) purchased 28,600 shares at $17.60 per share price, according to the Form-4 filing with the securities and exchange commission.
Triangle Capital Corporation is a specialty finance company that provides customized financing to lower middle market companies. The Company’s investment objective is to seek returns by generating current income from its debt investments and capital appreciation from its equity related investments. It invests primarily in subordinated debt securities secured by second lien security interests in portfolio company assets coupled with equity interests. It also invests in senior debt securities secured by first lien security interests in portfolio companies. Its investment portfolio consists of debt and equity instruments of privately held companies for which quoted prices or other inputs falling within the categories of Level 1 and Level 2 are not available. Its target portfolio company has annual revenues between $20.0 million and $200.0 million and annual earnings before interest taxes depreciation and amortization (EBITDA) between $3.0 million and $35.0 million.