Ares Management Price Target Lowered to $21.00 at JPMorgan Chase & Co. (ARES)
Equities research analysts at JPMorgan Chase & Co. dropped their target price on shares of Ares Management (NASDAQ:ARES) from $23.00 to $21.00 in a research note issued to investors on Tuesday. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 9.66% from the stock’s previous close.
Ares Management (NASDAQ:ARES) remained flat at $19.15 during trading on Tuesday. The stock had a trading volume of 97,284 shares. Ares Management has a one year low of $16.68 and a one year high of $19.50. The stock has a 50-day moving average of $18.77 and a 200-day moving average of $18.48. The company has a market cap of $4.100 billion and a P/E ratio of 9.57.
Ares Management (NASDAQ:ARES) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.33 by $0.01. The company had revenue of $139.90 million for the quarter, compared to the consensus estimate of $162.50 million. On average, analysts predict that Ares Management will post $1.60 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ARES. Analysts at RBC Capital cut their price target on shares of Ares Management from $23.00 to $22.00 in a research note on Thursday, June 12th. They now have an “outperform” rating on the stock. Separately, analysts at SunTrust initiated coverage on shares of Ares Management in a research note on Tuesday, May 27th. 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, May 27th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $21.20.
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.
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