Main Street Capital (MAIN) Stock Rating Upgraded by Zacks Investment Research

Main Street Capital (NYSE:MAIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The firm currently has a $43.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.97% from the company’s current price.

According to Zacks, “Main Street Capital Corporation is a specialty investment company providing customized financing solutions to lower middle market companies which operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides one stop financing alternatives to its portfolio companies. “

A number of other brokerages also recently weighed in on MAIN. 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. National Securities raised their price objective on Main Street Capital from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 8th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $40.25.

MAIN opened at $37.73 on Friday. The firm has a market cap of $2.33 billion, a PE ratio of 15.79 and a beta of 0.87. 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 52-week low of $34.37 and a 52-week high of $41.79.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. The firm had revenue of $59.87 million for the quarter, compared to the consensus estimate of $57.88 million. Main Street Capital had a net margin of 83.40% and a return on equity of 11.81%. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share. Equities analysts forecast that Main Street Capital will post 2.53 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Sound Income Strategies LLC boosted its stake in shares of Main Street Capital by 10.5% in the 3rd quarter. Sound Income Strategies LLC now owns 393,385 shares of the financial services provider’s stock valued at $15,145,000 after purchasing an additional 37,454 shares in the last quarter. CNO Financial Group Inc. boosted its position in Main Street Capital by 114.3% in the second quarter. CNO Financial Group Inc. now owns 300,000 shares of the financial services provider’s stock valued at $11,418,000 after buying an additional 160,000 shares in the last quarter. Castle Rock Wealth Management LLC boosted its position in Main Street Capital by 72.4% in the second quarter. Castle Rock Wealth Management LLC now owns 11,717 shares of the financial services provider’s stock valued at $446,000 after buying an additional 4,922 shares in the last quarter. Royal Bank of Canada boosted its position in 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 buying an additional 35,211 shares in the last quarter. Finally, State of Wisconsin Investment Board boosted its holdings in shares of Main Street Capital by 2.2% during the 2nd quarter. State of Wisconsin Investment Board now owns 149,292 shares of the financial services provider’s stock valued at $5,682,000 after acquiring an additional 3,265 shares in the last quarter. Institutional investors own 23.56% of the company’s stock.

Main Street Capital Company Profile

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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