Ares Management (NYSE:ARES) Price Target Raised to $185.00

Ares Management (NYSE:ARES) had its price objective increased by equities researchers at Royal Bank of Canada from $170.00 to $185.00 in a report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the asset manager’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 15.36% from the stock’s previous close.

Several other brokerages also recently commented on ARES. UBS Group upped their target price on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. TD Cowen increased their price target on shares of Ares Management from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Redburn Atlantic assumed coverage on shares of Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target for the company. Morgan Stanley increased their price objective on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, Barclays increased their price objective on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.91.

Ares Management Trading Down 0.9 %

Shares of ARES traded down $1.50 on Monday, reaching $160.37. 408,122 shares of the company’s stock were exchanged, compared to its average volume of 1,147,737. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $50.19 billion, a P/E ratio of 83.53, a price-to-earnings-growth ratio of 1.61 and a beta of 1.20. The business has a 50 day moving average price of $155.87 and a two-hundred day moving average price of $145.55. Ares Management has a 12 month low of $101.44 and a 12 month high of $171.78.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. The firm had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. During the same quarter in the prior year, the firm earned $0.90 earnings per share. Research analysts anticipate that Ares Management will post 4.11 earnings per share for the current year.

Insiders Place Their Bets

In other Ares Management news, insider David B. Kaplan sold 27,068 shares of Ares Management stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,942,995.56. Following the transaction, the insider now directly owns 222,932 shares of the company’s stock, valued at $32,474,504.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider David B. Kaplan sold 27,068 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,942,995.56. Following the transaction, the insider now directly owns 222,932 shares of the company’s stock, valued at approximately $32,474,504.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan Berry sold 40,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $167.99, for a total transaction of $6,719,600.00. Following the completion of the transaction, the insider now directly owns 304,202 shares in the company, valued at $51,102,893.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 622,640 shares of company stock valued at $91,378,848 in the last three months. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ares Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eastern Bank bought a new position in Ares Management during the third quarter worth about $39,000. J.Safra Asset Management Corp boosted its position in Ares Management by 717.6% during the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock worth $37,000 after purchasing an additional 244 shares during the period. West Oak Capital LLC boosted its position in Ares Management by 40.0% during the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after purchasing an additional 100 shares during the period. Key Financial Inc purchased a new stake in shares of Ares Management in the second quarter worth about $53,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Ares Management in the first quarter worth about $54,000. Institutional investors own 50.03% of the company’s stock.

Ares Management Company Profile

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.