Ares Management LP (ARES) Raised to “Buy” at Zacks Investment Research
Ares Management LP (NYSE:ARES) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $21.00 target price on the stock. Zacks Investment Research’s price objective suggests a potential upside of 13.21% from the stock’s previous close.
According to Zacks, “Ares Management, L.P. is a global alternative asset manager. It manages four investment groups that invest in the tradable credit, direct lending, and private equity and real estate markets. The company’s Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies. The company’s Private Equity Group segment focuses on majority or shared-control investments primarily in under-capitalized companies. Its Real Estate Group segment invests in new developments and the repositioning of assets; and originates and invests in a range of self-originated financing opportunities for middle-market owners and operators of commercial real estate. Ares Management, L.P. is headquartered in Los Angeles. “
Other equities analysts have also issued reports about the stock. TheStreet raised shares of Ares Management from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Morgan Stanley set a $15.00 price target on shares of Ares Management and gave the stock a “hold” rating in a research report on Thursday, August 11th. Bank of America Corp. lowered shares of Ares Management from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Ares Management in a research report on Tuesday, September 20th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $17.92.
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Shares of Ares Management (NYSE:ARES) traded up 0.54% during trading on Tuesday, hitting $18.65. 21,465 shares of the stock were exchanged. Ares Management has a 52 week low of $10.72 and a 52 week high of $19.54. The firm has a 50 day moving average price of $18.33 and a 200 day moving average price of $15.81. The firm has a market capitalization of $3.99 billion, a P/E ratio of 66.37 and a beta of 1.13.
Ares Management (NYSE:ARES) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Ares Management had a net margin of 2.88% and a return on equity of 15.65%. The business had revenue of $369 million for the quarter, compared to analyst estimates of $164.13 million. During the same period last year, the firm earned $0.32 earnings per share. Ares Management’s revenue for the quarter was up 53.0% compared to the same quarter last year. Analysts forecast that Ares Management will post $1.21 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in ARES. Goldman Sachs Group Inc. raised its position in Ares Management by 34.2% in the first quarter. Goldman Sachs Group Inc. now owns 81,011 shares of the company’s stock valued at $1,248,000 after buying an additional 20,651 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Ares Management by 16.9% in the second quarter. PNC Financial Services Group Inc. now owns 103,673 shares of the company’s stock valued at $1,460,000 after buying an additional 14,999 shares in the last quarter. Raymond James & Associates purchased a new position in Ares Management during the second quarter valued at approximately $184,000. Royce & Associates LP raised its position in Ares Management by 1.0% in the second quarter. Royce & Associates LP now owns 3,774,217 shares of the company’s stock valued at $53,179,000 after buying an additional 36,061 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Ares Management by 4.2% in the second quarter. American Century Companies Inc. now owns 1,001,565 shares of the company’s stock valued at $14,112,000 after buying an additional 40,361 shares in the last quarter. 10.20% of the stock is currently owned by hedge funds and other institutional investors.
About Ares Management
Ares Management, L.P. is an alternative asset manager. The Company operates through four segments: Tradable Credit Group, Direct Lending Group, Private Equity Group and Real Estate Group. Its Tradable Credit Group is a participant in the tradable, non-investment grade corporate credit markets and manages various types of investment funds, ranging from commingled and separately managed accounts for institutional investors to publicly traded vehicles and sub-advised funds for retail investors.
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