Hercules Technology Growth Capital Inc. (HTGC) Raised to “Buy” at Zacks Investment Research
Hercules Technology Growth Capital Inc. (NYSE:HTGC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $15.00 price objective on the stock. Zacks Investment Research’s price objective points to a potential upside of 9.01% from the stock’s previous close.
According to Zacks, “Hercules Capital’s shares have marginally outpaced the Zacks Categorized Small Business Investment Companies & Commercial industry, year to date. The company's loan origination activity continues to be on track, as it remains focused on making commitments to new and existing companies. Further, the company is expected to witness growing demand for customized financing based on the market optimism for public equities and an improving economic environment. Nevertheless, elevated expenses, threat of concentration risk and stricter regulations continue to be the near-term concerns.”
Other analysts also recently issued reports about the company. JMP Securities restated a “buy” rating on shares of Hercules Technology Growth Capital in a research report on Sunday, November 6th. FBR & Co upped their price objective on Hercules Technology Growth Capital from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. Jefferies Group upped their price objective on Hercules Technology Growth Capital from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, TheStreet upgraded Hercules Technology Growth Capital from a “hold” rating to a “buy” rating in a research report on Monday, November 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $14.00.
Hercules Technology Growth Capital (NYSE:HTGC) traded up 0.182% during trading on Tuesday, reaching $13.785. The company’s stock had a trading volume of 167,895 shares. Hercules Technology Growth Capital has a 1-year low of $9.92 and a 1-year high of $14.00. The company has a market capitalization of $1.06 billion, a P/E ratio of 14.823 and a beta of 0.90. The company’s 50-day moving average is $13.53 and its 200-day moving average is $13.10.
Hercules Technology Growth Capital (NYSE:HTGC) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Hercules Technology Growth Capital had a return on equity of 11.69% and a net margin of 41.18%. The business had revenue of $45.10 million for the quarter, compared to the consensus estimate of $44.09 million. During the same period in the prior year, the business earned $0.33 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. Equities analysts anticipate that Hercules Technology Growth Capital will post $1.24 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Monday, November 14th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $1.24 annualized dividend and a yield of 9.01%. Hercules Technology Growth Capital’s dividend payout ratio is presently 131.92%.
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A number of large investors have recently made changes to their positions in the company. Emerald Acquisition Ltd. bought a new stake in Hercules Technology Growth Capital during the second quarter worth about $1,016,000. Societe Generale bought a new stake in Hercules Technology Growth Capital during the second quarter worth about $193,000. Sequoia Financial Advisors LLC bought a new stake in Hercules Technology Growth Capital during the second quarter worth about $244,000. Northpointe Capital LLC raised its stake in Hercules Technology Growth Capital by 5.2% in the second quarter. Northpointe Capital LLC now owns 1,131,126 shares of the company’s stock worth $14,049,000 after buying an additional 56,162 shares during the period. Finally, Advisory Services Network LLC raised its stake in Hercules Technology Growth Capital by 25.6% in the second quarter. Advisory Services Network LLC now owns 11,013 shares of the company’s stock worth $137,000 after buying an additional 2,245 shares during the period. Institutional investors own 41.24% of the company’s stock.
Hercules Technology Growth Capital Company Profile
Hercules Capital, Inc, formerly Hercules Technology Growth Capital, Inc, is a specialty finance company. The Company is focused on providing senior secured venture growth loans to venture capital-backed companies in a range of technology, life sciences and sustainable and renewable technology industries.
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