Ares Management LP (ARES) Stock Rating Upgraded by Credit Suisse Group AG
Ares Management LP (NYSE:ARES) was upgraded by equities research analysts at Credit Suisse Group AG from a “neutral” rating to an “outperform” rating in a report released on Thursday.
A number of other equities research analysts also recently issued reports on ARES. Keefe, Bruyette & Woods raised shares of Ares Management from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research report on Thursday, March 23rd. TheStreet raised shares of Ares Management from a “c” rating to a “b-” rating in a research report on Wednesday, April 26th. SunTrust Banks, Inc. boosted their price objective on shares of Ares Management from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, February 27th. Zacks Investment Research downgraded shares of Ares Management from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 3rd. Finally, Goldman Sachs Group Inc started coverage on shares of Ares Management in a research report on Friday, March 10th. They set a “neutral” rating and a $21.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $20.86.
Shares of Ares Management (NYSE:ARES) opened at 18.85 on Thursday. Ares Management has a 12 month low of $12.08 and a 12 month high of $23.25. The stock has a market capitalization of $4.04 billion, a P/E ratio of 28.09 and a beta of 1.18. The company’s 50 day moving average price is $18.97 and its 200-day moving average price is $18.54.
Ares Management (NYSE:ARES) last announced its earnings results on Monday, May 8th. The asset manager reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by $0.09. The company had revenue of $172.05 million for the quarter, compared to analysts’ expectations of $182.50 million. Ares Management had a net margin of 7.79% and a return on equity of 25.44%. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Equities analysts predict that Ares Management will post $1.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 5th. Stockholders of record on Monday, May 22nd will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Thursday, May 18th. Ares Management’s payout ratio is 94.12%.
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Large investors have recently modified their holdings of the stock. BlackRock Advisors LLC increased its stake in shares of Ares Management by 1.9% in the third quarter. BlackRock Advisors LLC now owns 209,184 shares of the asset manager’s stock worth $3,642,000 after buying an additional 4,000 shares during the last quarter. Raiff Partners Inc. acquired a new stake in shares of Ares Management during the fourth quarter worth about $384,000. Navellier & Associates Inc acquired a new stake in shares of Ares Management during the first quarter worth about $299,000. Wells Fargo & Company MN increased its stake in shares of Ares Management by 733.8% in the first quarter. Wells Fargo & Company MN now owns 553,854 shares of the asset manager’s stock worth $10,496,000 after buying an additional 487,425 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Ares Management by 9.5% in the first quarter. American Century Companies Inc. now owns 1,181,639 shares of the asset manager’s stock worth $22,392,000 after buying an additional 102,837 shares during the last quarter. 10.38% of the stock is owned by hedge funds and other institutional investors.
About Ares Management
Ares Management, L.P. is an alternative asset manager. The Company offers its investors a range of investment strategies. It operates through three segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment manages credit strategies across the non-investment grade credit universe in the United States and Europe.
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