Ares Management Price Target Cut to $21.00 (ARES)
RBC Capital dropped their price objective on shares of Ares Management (NASDAQ:ARES) from $22.00 to $21.00 in a research note issued on Thursday. RBC Capital’s price target would indicate a potential upside of 16.73% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. cut their price target on shares of Ares Management from $23.00 to $21.00 in a research note on Tuesday, July 15th. They now have an “overweight” rating on the stock. Finally, 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $21.00.
Ares Management (NASDAQ:ARES) opened at 18.19 on Thursday. Ares Management has a one year low of $16.68 and a one year high of $20.48. The stock’s 50-day moving average is $18.96 and its 200-day moving average is $18.6. The company has a market cap of $3.894 billion and a price-to-earnings ratio of 8.99.
Ares Management (NASDAQ:ARES) last announced its earnings results on Wednesday, August 13th. The company reported $0.33 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.37 by $0.04. On average, analysts predict that Ares Management will post $1.63 earnings per share for the current fiscal year.
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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