Ares Management L.P. (NYSE:ARES) Given a $21.00 Price Target by Royal Bank Of Canada Analysts
Ares Management L.P. (NYSE:ARES) received a $21.00 price target from research analysts at Royal Bank Of Canada in a research report issued on Saturday. The firm currently has a “buy” rating on the asset manager’s stock. Royal Bank Of Canada’s price target points to a potential upside of 15.38% from the company’s current price.
A number of other equities research analysts have also commented on the company. BidaskClub lowered Ares Management L.P. from a “hold” rating to a “sell” rating in a research report on Saturday. ValuEngine lowered Ares Management L.P. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research lowered Ares Management L.P. from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Ares Management L.P. in a research report on Tuesday, July 4th. Finally, TheStreet lowered Ares Management L.P. from a “b-” rating to a “c” rating in a research report on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. Ares Management L.P. presently has a consensus rating of “Buy” and an average target price of $20.75.
Ares Management L.P. (NYSE:ARES) traded down 0.27% during trading on Friday, reaching $18.20. The company’s stock had a trading volume of 87,468 shares. Ares Management L.P. has a 52 week low of $14.75 and a 52 week high of $23.25. The firm has a market cap of $3.90 billion, a P/E ratio of 27.12 and a beta of 1.25. The stock’s 50 day moving average is $18.16 and its 200-day moving average is $18.99.
Ares Management L.P. (NYSE:ARES) last released its quarterly earnings results on Friday, August 4th. The asset manager reported $0.69 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.69. The company had revenue of $554 million for the quarter, compared to analyst estimates of $442.10 million. Ares Management L.P. had a return on equity of 35.09% and a net margin of 5.65%. Ares Management L.P.’s revenue was up 49.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 earnings per share. On average, equities research analysts forecast that Ares Management L.P. will post $1.82 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. Navellier & Associates Inc purchased a new stake in shares of Ares Management L.P. during the first quarter worth about $299,000. Bank of New York Mellon Corp raised its stake in shares of Ares Management L.P. by 79.8% in the second quarter. Bank of New York Mellon Corp now owns 18,827 shares of the asset manager’s stock worth $338,000 after buying an additional 8,356 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Ares Management L.P. during the second quarter worth about $479,000. Lee Capital Management LP purchased a new stake in shares of Ares Management L.P. during the first quarter worth about $948,000. Finally, LLBH Private Wealth Management LLC purchased a new stake in shares of Ares Management L.P. during the second quarter worth about $923,000. 14.67% of the stock is currently owned by institutional investors and hedge funds.
Ares Management L.P. Company Profile
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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