Ares Management (NYSE:ARES) Now Covered by Royal Bank of Canada

Stock analysts at Royal Bank of Canada started coverage on shares of Ares Management (NYSE:ARES) in a report released on Tuesday. The brokerage set an “outperform” rating and a $20.00 price target on the asset manager’s stock. Royal Bank of Canada’s price target points to a potential downside of 36.65% from the stock’s current price.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. boosted their target price on Ares Management from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. TheStreet raised Ares Management from a “c+” rating to a “b” rating in a research report on Friday, August 16th. BMO Capital Markets upped their price objective on Ares Management from $31.00 to $34.00 and gave the stock a “market perform” rating in a research report on Monday, November 4th. Barclays set a $33.00 price objective on Ares Management and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, UBS Group upped their price objective on Ares Management from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $30.60.

NYSE:ARES traded down $0.14 on Tuesday, reaching $31.57. The company’s stock had a trading volume of 286,560 shares, compared to its average volume of 524,952. Ares Management has a 1-year low of $16.18 and a 1-year high of $32.90. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $3.66 billion, a PE ratio of 22.23, a PEG ratio of 1.58 and a beta of 1.47. The business’s 50-day moving average price is $28.67 and its two-hundred day moving average price is $27.79.

Ares Management (NYSE:ARES) last posted its earnings results on Thursday, October 31st. The asset manager reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Ares Management had a net margin of 7.76% and a return on equity of 18.98%. The business had revenue of $466.49 million during the quarter, compared to analyst estimates of $312.15 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The firm’s revenue was up 93.7% on a year-over-year basis. As a group, sell-side analysts expect that Ares Management will post 1.52 EPS for the current year.

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In other news, Director Ares Management Llc sold 1,080,862 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $0.10, for a total transaction of $108,086.20. Following the completion of the transaction, the director now directly owns 86,857 shares of the company’s stock, valued at $8,685.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 151.62% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of Ares Management by 41.9% during the second quarter. Bank of New York Mellon Corp now owns 493,541 shares of the asset manager’s stock worth $12,916,000 after buying an additional 145,797 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Ares Management by 4.9% during the second quarter. Oppenheimer & Co. Inc. now owns 18,696 shares of the asset manager’s stock worth $489,000 after acquiring an additional 865 shares in the last quarter. BNP Paribas Arbitrage SA bought a new stake in Ares Management during the second quarter worth about $51,000. Waddell & Reed Financial Inc. raised its holdings in Ares Management by 11.5% during the second quarter. Waddell & Reed Financial Inc. now owns 760,036 shares of the asset manager’s stock worth $19,890,000 after acquiring an additional 78,367 shares in the last quarter. Finally, Strs Ohio raised its holdings in Ares Management by 470.3% during the third quarter. Strs Ohio now owns 98,100 shares of the asset manager’s stock worth $2,630,000 after acquiring an additional 80,900 shares in the last quarter. 60.07% of the stock is owned by institutional investors.

Ares Management Company Profile

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.

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Analyst Recommendations for Ares Management (NYSE:ARES)

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