B. Riley Financial Cuts Saratoga Investment (NYSE:SAR) Price Target to $20.00

Saratoga Investment (NYSE:SAR) had its price target reduced by B. Riley Financial from $22.00 to $20.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. B. Riley Financial’s target price would indicate a potential upside of 34.37% from the company’s current price.

Other analysts have also issued reports about the stock. Zacks Research upgraded shares of Saratoga Investment from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Oppenheimer decreased their price objective on Saratoga Investment from $22.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, July 9th. Compass Point restated a “neutral” rating and set a $18.00 target price on shares of Saratoga Investment in a report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Saratoga Investment in a research report on Friday, October 2nd. Seven equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Saratoga Investment currently has a consensus rating of “Hold” and an average price target of $19.67.

Saratoga Investment Trading Down 0.2%

Shares of Saratoga Investment stock traded down $0.03 during midday trading on Thursday, reaching $14.88. 152,914 shares of the company’s stock traded hands, compared to its average volume of 136,908. The stock has a 50 day moving average of $18.03 and a 200-day moving average of $20.42. Saratoga Investment has a 12 month low of $13.78 and a 12 month high of $24.07. The company has a market cap of $239.33 million, a PE ratio of -59.06 and a beta of 0.57. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.09 and a current ratio of 0.09.

Saratoga Investment (NYSE:SAR) last released its quarterly earnings results on Tuesday, October 6th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.03). The company had revenue of $31.17 million during the quarter, compared to the consensus estimate of $31.46 million. Saratoga Investment had a negative net margin of 3.35% and a positive return on equity of 8.42%. As a group, equities analysts expect that Saratoga Investment will post 1.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Saratoga Investment

Institutional investors have recently made changes to their positions in the company. Triumph Capital Management lifted its position in Saratoga Investment by 66.2% in the 2nd quarter. Triumph Capital Management now owns 2,950 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 1,175 shares in the last quarter. Focus Financial Network Inc. increased its holdings in shares of Saratoga Investment by 19.1% in the 2nd quarter. Focus Financial Network Inc. now owns 25,218 shares of the financial services provider’s stock worth $563,000 after purchasing an additional 4,042 shares in the last quarter. Western Wealth Management LLC purchased a new position in shares of Saratoga Investment in the first quarter worth $70,000. Bank of America Corp DE raised its stake in shares of Saratoga Investment by 2,243.4% in the first quarter. Bank of America Corp DE now owns 25,027 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 23,959 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Saratoga Investment by 3.2% during the first quarter. Royal Bank of Canada now owns 17,950 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 557 shares in the last quarter. Hedge funds and other institutional investors own 19.09% of the company’s stock.

Saratoga Investment Company Profile

Saratoga Investment Corporation (NYSE:SAR) is a business development company that provides financing to lower middle-market companies in the United States. The company seeks to support businesses that may have limited access to traditional bank financing, working with private equity sponsors, management teams and other financial partners.

Through its investment portfolio, Saratoga Investment typically provides senior secured and subordinated debt, including first-lien, unitranche and second-lien loans, as well as mezzanine financing and equity investments.