Ares Management L.P.’s (ARES) Buy Rating Reaffirmed at Royal Bank Of Canada
Ares Management L.P. (NYSE:ARES)‘s stock had its “buy” rating restated by Royal Bank Of Canada in a research report issued to clients and investors on Friday.
A number of other analysts have also recently commented on the company. BidaskClub raised Ares Management L.P. from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Zacks Investment Research raised Ares Management L.P. from a “sell” rating to a “hold” rating in a report on Friday, October 20th. Oppenheimer Holdings, Inc. assumed coverage on Ares Management L.P. in a report on Thursday, September 21st. They issued an “outperform” rating and a $18.00 price objective for the company. Keefe, Bruyette & Woods restated a “buy” rating and issued a $22.00 price target on shares of Ares Management L.P. in a research note on Tuesday, September 5th. Finally, TheStreet upgraded Ares Management L.P. from a “c” rating to a “b-” rating in a research note on Thursday, August 17th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Ares Management L.P. currently has a consensus rating of “Buy” and an average target price of $21.00.
Shares of Ares Management L.P. (NYSE:ARES) traded up $0.25 during midday trading on Friday, reaching $18.75. The company’s stock had a trading volume of 75,707 shares, compared to its average volume of 64,020. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $1.53 billion, a P/E ratio of 9.84, a P/E/G ratio of 0.76 and a beta of 1.23.
Ares Management L.P. (NYSE:ARES) last issued its quarterly earnings results on Friday, November 3rd. The asset manager reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. Ares Management L.P. had a return on equity of 40.94% and a net margin of 5.86%. The company had revenue of $283.67 million during the quarter, compared to analysts’ expectations of $286.76 million. During the same quarter in the previous year, the firm posted $0.45 EPS. The firm’s revenue was down 15.4% compared to the same quarter last year. sell-side analysts predict that Ares Management L.P. will post 1.82 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently made changes to their positions in ARES. American Century Companies Inc. boosted its stake in shares of Ares Management L.P. by 16.7% during the fourth quarter. American Century Companies Inc. now owns 957,011 shares of the asset manager’s stock worth $12,374,000 after buying an additional 137,178 shares during the period. PNC Financial Services Group Inc. grew its stake in Ares Management L.P. by 17.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 82,032 shares of the asset manager’s stock worth $1,061,000 after acquiring an additional 12,047 shares during the period. OppenheimerFunds Inc. grew its stake in Ares Management L.P. by 1.7% in the 4th quarter. OppenheimerFunds Inc. now owns 865,831 shares of the asset manager’s stock worth $11,195,000 after acquiring an additional 14,750 shares during the period. Royce & Associates LLC boosted its holdings in shares of Ares Management L.P. by 104.9% in the 4th quarter. Royce & Associates LLC now owns 1,965,756 shares of the asset manager’s stock valued at $25,417,000 after purchasing an additional 1,006,166 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of Ares Management L.P. by 90.2% in the 1st quarter. Royce & Associates LP now owns 3,738,156 shares of the asset manager’s stock valued at $57,568,000 after purchasing an additional 1,772,400 shares during the last quarter. Institutional investors and hedge funds own 14.60% of the company’s stock.
About Ares Management L.P.
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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