Triangle Capital Corporation (TCAP) was Downgraded by Robert W. Baird to ” Neutral” and the brokerage firm has set the Price Target at $20. Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on May 2, 2016.
On the company’s financial health, Triangle Capital Corporation reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 24, 2016. Analyst had a consensus of $0.56.Analysts expectations of $ 31.55.During the same quarter in the previous year, the company posted $0.55 EPS.
Triangle Capital Corporation closed down -0.17 points or -0.80% at $21 with 84,207 shares getting traded on Wednesday. Post opening the session at $21.24, the shares hit an intraday low of $20.75 and an intraday high of $21.24 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
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.