Ares Management LP (ARES) Stock Rating Upgraded by 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 firm currently has a $21.00 price target on the stock. Zacks Investment Research’s price target would indicate 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. “
Several other research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Ares Management in a research report on Tuesday, September 20th. TheStreet upgraded 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 objective on Ares Management and gave the stock a “hold” rating in a research report on Thursday, August 11th. Finally, Bank of America Corp. cut 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $17.92.
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Ares Management (NYSE:ARES) remained flat at $18.55 on Tuesday. 23,234 shares of the stock traded hands. Ares Management has a 12-month low of $10.72 and a 12-month high of $19.54. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 66.01 and a beta of 1.13. The stock has a 50-day moving average price of $18.33 and a 200-day moving average price of $15.81.
Ares Management (NYSE:ARES) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02. The firm had revenue of $369 million for the quarter, compared to analysts’ expectations of $164.13 million. Ares Management had a return on equity of 15.65% and a net margin of 2.88%. The company’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 EPS. On average, analysts anticipate that Ares Management will post $1.21 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its stake 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 during the period. Royce & Associates LP raised its stake 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 during the period. Goldman Sachs Group Inc. raised its stake 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 during the period. PNC Financial Services Group Inc. raised its stake 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 during the period. Finally, Raymond James & Associates acquired a new stake in Ares Management during the second quarter valued at $184,000. 10.20% of the stock is currently owned by institutional investors and hedge funds.
Ares Management Company Profile
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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