Triangle Capital Corporation (TCAP) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on May 5, 2016.
Many Wall Street Analysts have commented on Triangle Capital Corporation. Robert W. Baird Downgraded Triangle Capital Corporation on May 2, 2016 to ” Neutral”, Price Target of the shares are set at $20.
On the company’s financial health, Triangle Capital Corporation reported $0.29 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $0.40. The company had revenue of $26.70 million for the quarter, compared to analysts expectations of $31.16 million. The company’s revenue was down -13.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.
Triangle Capital Corporation opened for trading at $19.73 and hit $20.1863 on the upside on Wednesday, eventually ending the session at $19.99, with a gain of 1.32% or 0.26 points. The heightened volatility saw the trading volume jump to 95,603 shares. Company has a market cap of $670 M.
In a different news, on Mar 23, 2016, C. Robert Jr. Knox (Principal Accounting Officer) sold 3,000 shares at $19.91 per share price. According to the SEC, on Oct 1, 2015, Simon B. Jr. Rich (director) purchased 15,000 shares at $16.17 per share price. On Sep 29, 2015, Sherwood Hubbard Jr. Smith (director) purchased 6,000 shares at $16.04 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.