Raymond James Upgrades Main Street Capital (MAIN) to “Outperform”

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Main Street Capital (NYSE:MAIN) was upgraded by investment analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued on Monday, Marketbeat reports. The firm presently has a $41.00 target price on the financial services provider’s stock. Raymond James’ price objective suggests a potential upside of 4.97% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Main Street Capital from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Saturday, October 6th. National Securities lifted their target price on shares of Main Street Capital from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 8th. SunTrust Banks reaffirmed a “hold” rating and issued a $40.00 target price on shares of Main Street Capital in a report on Friday, August 3rd. Finally, Janney Montgomery Scott set a $35.00 target price on shares of Main Street Capital and gave the company a “hold” rating in a report on Friday, November 2nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.50.

Shares of NYSE:MAIN opened at $39.06 on Monday. The stock has a market capitalization of $2.25 billion, a PE ratio of 16.34 and a beta of 0.83. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21. Main Street Capital has a fifty-two week low of $34.37 and a fifty-two week high of $41.79.

Main Street Capital (NYSE:MAIN) last issued its earnings results 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 business had revenue of $58.26 million for the quarter, compared to the consensus estimate of $59.19 million. Main Street Capital had a net margin of 95.77% and a return on equity of 10.80%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. On average, equities analysts predict that Main Street Capital will post 2.53 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Northern Trust Corp lifted its stake in shares of Main Street Capital by 5.8% in the first quarter. Northern Trust Corp now owns 31,741 shares of the financial services provider’s stock valued at $1,171,000 after purchasing an additional 1,729 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Main Street Capital by 1,604.9% in the first quarter. JPMorgan Chase & Co. now owns 44,584 shares of the financial services provider’s stock valued at $1,644,000 after purchasing an additional 41,969 shares during the period. Millennium Management LLC acquired a new stake in shares of Main Street Capital in the first quarter valued at about $5,193,000. Royal Bank of Canada lifted its stake in shares of Main Street Capital by 145.9% in the first quarter. Royal Bank of Canada now owns 59,343 shares of the financial services provider’s stock valued at $2,190,000 after purchasing an additional 35,211 shares during the period. Finally, Accurate Investment Solutions Inc. lifted its stake in shares of Main Street Capital by 9.1% in the second quarter. Accurate Investment Solutions Inc. now owns 108,730 shares of the financial services provider’s stock valued at $4,138,000 after purchasing an additional 9,025 shares during the period. 23.94% of the stock is currently owned by institutional investors and hedge funds.

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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