Solar Senior Capital (NASDAQ:SUNS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The brokerage presently has a $19.00 price target on the asset manager’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.57% from the company’s previous close.

According to Zacks, “Solar Senior Capital Ltd. operates as a business development company under the Investment Company Act of 1940. The Company invests primarily in senior secured loans, including first lien, unitranche and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade. “

SUNS has been the subject of several other research reports. Maxim Group reissued a “buy” rating and issued a $18.50 price objective on shares of Solar Senior Capital in a report on Thursday, August 8th. BidaskClub raised Solar Senior Capital from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd.

SUNS remained flat at $$17.03 on Wednesday. The company’s stock had a trading volume of 6,912 shares, compared to its average volume of 36,509. The firm’s fifty day moving average is $17.25 and its 200-day moving average is $16.86. Solar Senior Capital has a 12 month low of $14.50 and a 12 month high of $18.00. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $272.88 million, a price-to-earnings ratio of 12.08 and a beta of 0.59.

Solar Senior Capital (NASDAQ:SUNS) last issued its quarterly earnings data on Monday, August 5th. The asset manager reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The business had revenue of $10.01 million during the quarter, compared to analysts’ expectations of $10.76 million. Solar Senior Capital had a return on equity of 8.57% and a net margin of 35.76%. As a group, equities analysts anticipate that Solar Senior Capital will post 1.38 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Manchester Capital Management LLC acquired a new position in shares of Solar Senior Capital in the 2nd quarter valued at about $32,000. Marshall Wace LLP acquired a new position in shares of Solar Senior Capital in the 1st quarter valued at about $42,000. Advisor Group Inc. lifted its holdings in shares of Solar Senior Capital by 48.4% in the 2nd quarter. Advisor Group Inc. now owns 9,214 shares of the asset manager’s stock valued at $146,000 after buying an additional 3,006 shares during the period. Peapack Gladstone Financial Corp purchased a new position in shares of Solar Senior Capital in the 2nd quarter valued at about $318,000. Finally, Wells Fargo & Company MN increased its stake in shares of Solar Senior Capital by 75.3% in the 2nd quarter. Wells Fargo & Company MN now owns 20,447 shares of the asset manager’s stock valued at $326,000 after purchasing an additional 8,782 shares in the last quarter. 20.04% of the stock is owned by institutional investors and hedge funds.

About Solar Senior Capital

Solar Senior Capital Ltd. is a business development company specializing in investments in leveraged, middle-market companies in the United States. The fund invests in the form of senior secured loans, including first lien, unitranche, and second lien debt instruments. It does not invest in start-up companies or companies having speculative business plans.

Featured Story: Book Value Per Share in Stock Trading

Get a free copy of the Zacks research report on Solar Senior Capital (SUNS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Solar Senior Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solar Senior Capital and related companies with MarketBeat.com's FREE daily email newsletter.