TCG BDC (NASDAQ:CGBD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The brokerage currently has a $17.00 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.11% from the company’s current price.

According to Zacks, “TCG BDC, Inc. is an externally managed specialty finance company. It focused on providing flexible financing solutions to middle market companies primarily located in the United States. TCG BDC, Inc. is based in New York, United States. “

Separately, ValuEngine cut shares of Valero Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. TCG BDC presently has an average rating of “Buy” and a consensus price target of $16.88.

NASDAQ:CGBD traded down $0.08 on Tuesday, hitting $15.30. 6,719 shares of the company’s stock were exchanged, compared to its average volume of 340,699. The business has a 50-day simple moving average of $15.05. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.85 and a current ratio of 0.85. TCG BDC has a 52 week low of $12.19 and a 52 week high of $18.00. The stock has a market capitalization of $932.23 million, a P/E ratio of 8.87, a P/E/G ratio of 4.31 and a beta of 0.92.

TCG BDC (NASDAQ:CGBD) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. TCG BDC had a net margin of 24.05% and a return on equity of 10.19%. The firm had revenue of $55.19 million for the quarter, compared to analysts’ expectations of $56.70 million. During the same period in the previous year, the firm posted ($0.02) EPS. Research analysts anticipate that TCG BDC will post 1.77 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. YorkBridge Wealth Partners LLC raised its holdings in shares of TCG BDC by 2.8% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 42,550 shares of the company’s stock valued at $616,000 after purchasing an additional 1,168 shares during the period. Synovus Financial Corp raised its holdings in shares of TCG BDC by 32.7% in the 1st quarter. Synovus Financial Corp now owns 5,773 shares of the company’s stock valued at $84,000 after purchasing an additional 1,421 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of TCG BDC by 9.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,000 shares of the company’s stock valued at $211,000 after purchasing an additional 1,450 shares during the period. Mckinley Capital Management LLC Delaware raised its holdings in shares of TCG BDC by 1.2% in the 1st quarter. Mckinley Capital Management LLC Delaware now owns 147,231 shares of the company’s stock valued at $2,132,000 after purchasing an additional 1,704 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of TCG BDC by 1.5% in the 1st quarter. First Trust Advisors LP now owns 132,838 shares of the company’s stock valued at $1,923,000 after purchasing an additional 1,955 shares during the period. 26.76% of the stock is currently owned by institutional investors.

About TCG BDC

TCG BDC, Inc is a non-diversified closed-end investment company. The fund operates as a business development company. The company provides debt investments in the U.S. middle market companies. It also invests in first lien and second lien senior secured loans; middle market junior loans, such as corporate mezzanine loans, equity co-investments, syndicated first lien and second lien senior secured loans, high-yield bonds, structured finance obligations, and other opportunistic investments.

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