Ares Management (NYSE:ARES) PT Raised to $162.00

by · The Cerbat Gem

Ares Management (NYSE:ARES – Get Free Report) had its price objective increased by equities research analysts at Morgan Stanley from $136.00 to $162.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price target would indicate a potential upside of 0.03% from the company’s current price.

A number of other brokerages have also issued reports on ARES. Wells Fargo & Company boosted their price target on Ares Management from $156.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Wednesday. TD Cowen upped their price objective on shares of Ares Management from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group lowered their target price on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. Finally, Redburn Atlantic began coverage on shares of Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.82.

Check Out Our Latest Stock Analysis on ARES

Ares Management Trading Up 2.6 %

Shares of NYSE:ARES opened at $161.95 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $147.69 and its 200 day moving average price is $141.55. The company has a market cap of $50.69 billion, a PE ratio of 84.38, a P/E/G ratio of 1.48 and a beta of 1.22. Ares Management has a fifty-two week low of $96.00 and a fifty-two week high of $162.37.

Ares Management (NYSE:ARES – Get Free Report) last released its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The company had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same quarter in the previous year, the company posted $0.90 earnings per share. Sell-side analysts anticipate that Ares Management will post 4.16 earnings per share for the current year.

Insider Buying and Selling

In other Ares Management news, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total value of $6,260,151.96. Following the transaction, the insider now owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ares Management news, insider David B. Kaplan sold 27,068 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,942,995.56. Following the completion of the transaction, the insider now directly owns 222,932 shares in the company, valued at $32,474,504.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider R. Kipp Deveer sold 41,676 shares of Ares Management stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the completion of the transaction, the insider now directly owns 1,075,000 shares in the company, valued at approximately $161,475,750. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 624,316 shares of company stock worth $90,919,400. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Ares Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Compass Wealth Management LLC acquired a new stake in Ares Management during the 1st quarter valued at $28,000. Riverview Trust Co purchased a new position in shares of Ares Management during the first quarter valued at $29,000. West Oak Capital LLC raised its position in Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after buying an additional 100 shares during the period. J.Safra Asset Management Corp raised its position in Ares Management by 717.6% during the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after buying an additional 244 shares during the period. Finally, Key Financial Inc purchased a new stake in Ares Management in the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

About Ares Management

(Get Free Report)

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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