Analysts at Oppenheimer Holdings, Inc. started coverage on shares of Ares Management L.P. (NYSE:ARES) in a report released on Thursday. The brokerage set an “outperform” rating and a $18.00 price target on the asset manager’s stock. Oppenheimer Holdings, Inc.’s price target points to a potential downside of 1.91% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. TheStreet upgraded Ares Management L.P. from a “c” rating to a “b-” rating in a report on Thursday, August 17th. Zacks Investment Research upgraded Ares Management L.P. from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Tuesday, July 11th. Royal Bank Of Canada set a $21.00 price objective on Ares Management L.P. and gave the stock a “buy” rating in a report on Saturday, August 5th. ValuEngine cut Ares Management L.P. from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $22.00 price objective on shares of Ares Management L.P. in a report on Tuesday, September 5th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $20.88.

Shares of Ares Management L.P. (NYSE:ARES) traded down 0.54% during trading on Thursday, reaching $18.25. The company had a trading volume of 49,711 shares. The firm’s 50 day moving average price is $18.07 and its 200 day moving average price is $18.43. Ares Management L.P. has a 12 month low of $14.75 and a 12 month high of $23.25. The firm has a market capitalization of $3.91 billion, a P/E ratio of 24.43 and a beta of 1.25.

Ares Management L.P. (NYSE:ARES) last announced its earnings results on Friday, August 4th. The asset manager reported $0.69 EPS for the quarter, meeting analysts’ consensus estimates of $0.69. The firm had revenue of $554.00 million for the quarter, compared to analysts’ expectations of $442.10 million. Ares Management L.P. had a return on equity of 40.94% and a net margin of 5.86%. Ares Management L.P.’s quarterly revenue was up 49.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. Equities analysts predict that Ares Management L.P. will post $1.84 EPS for the current year.

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Several hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in shares of Ares Management L.P. by 1.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 141,707 shares of the asset manager’s stock worth $2,551,000 after buying an additional 2,319 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Ares Management L.P. by 37.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock worth $261,000 after buying an additional 3,982 shares during the period. Sei Investments Co. raised its position in shares of Ares Management L.P. by 9.7% in the 1st quarter. Sei Investments Co. now owns 60,906 shares of the asset manager’s stock worth $1,154,000 after buying an additional 5,366 shares during the period. Royal Bank of Canada raised its position in shares of Ares Management L.P. by 359.8% in the 2nd quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock worth $177,000 after buying an additional 7,700 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Ares Management L.P. by 79.8% in the 2nd 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 during the period. Institutional investors and hedge funds own 14.68% of the company’s stock.

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.

Analyst Recommendations for Ares Management L.P. (NYSE:ARES)

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