Ares Management Sets New 52-Week High at $19.10 (ARES)
Shares of Ares Management (NASDAQ:ARES) hit a new 52-week high on Friday , Stock Ratings Network.com reports. The company traded as high as $19.10 and last traded at $19.00, with a volume of 272,104 shares. The stock had previously closed at $18.80.
A number of research firms have recently commented on ARES. Analysts at JPMorgan Chase & Co. initiated coverage on shares of Ares Management in a research note on Tuesday. They set an “overweight” rating and a $23.00 price target on the stock. Separately, analysts at SunTrust initiated coverage on shares of Ares Management in a research note on Tuesday. They set a “buy” rating and a $22.00 price target on the stock. Finally, analysts at Wells Fargo & Co. initiated coverage on shares of Ares Management in a research note on Tuesday. They set an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $21.80.
The stock has a 50-day moving average of $17.95 and a 200-day moving average of $17.95. The company has a market cap of $4.042 billion and a P/E ratio of 7.86.
Ares Management, L.P. is a global alternative asset manager. The company operates in four segments: Tradable Credit Group, Direct Lending Group, Private Equity Group and Real Estate Group.