Ares Management L.P. (ARES) Earns Buy Rating from Royal Bank Of Canada
A number of other brokerages have also recently weighed in on ARES. ValuEngine cut Ares Management L.P. from a strong-buy rating to a buy rating in a research report on Thursday, July 27th. BidaskClub upgraded Ares Management L.P. from a sell rating to a hold rating in a research report on Monday, July 24th. TheStreet upgraded Ares Management L.P. from a c rating to a b- rating in a research report on Thursday, August 17th. Zacks Investment Research upgraded Ares Management L.P. from a hold rating to a buy rating and set a $21.00 price target for the company in a research report on Monday, October 9th. Finally, Oppenheimer Holdings, Inc. began coverage on Ares Management L.P. in a research report on Thursday, September 21st. They issued an outperform rating and a $18.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Ares Management L.P. presently has a consensus rating of Buy and an average target price of $21.00.
Ares Management L.P. (NYSE:ARES) opened at $18.75 on Friday. The stock has a market cap of $1,540.24, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 0.77 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.43 and a quick ratio of 0.43.
Ares Management L.P. (NYSE:ARES) last announced its quarterly earnings results on Friday, November 3rd. The asset manager reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $283.67 million during the quarter, compared to analysts’ expectations of $286.76 million. During the same quarter last year, the business posted $0.45 earnings per share. The business’s revenue for the quarter was down 15.4% on a year-over-year basis. analysts forecast that Ares Management L.P. will post 1.82 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its position in Ares Management L.P. by 2.1% during the 3rd quarter. American Century Companies Inc. now owns 1,208,538 shares of the asset manager’s stock worth $22,539,000 after purchasing an additional 24,976 shares in the last quarter. PM CAPITAL Ltd purchased a new stake in Ares Management L.P. during the 3rd quarter worth about $7,785,000. Intrinsic Edge Capital Management LLC purchased a new stake in Ares Management L.P. during the 2nd quarter worth about $3,267,000. Royal Bank of Canada increased its position in Ares Management L.P. by 359.8% during the 2nd quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock worth $177,000 after purchasing an additional 7,700 shares in the last quarter. Finally, Capital World Investors purchased a new stake in Ares Management L.P. during the 2nd quarter worth about $9,649,000. Hedge funds and other institutional investors own 14.60% 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.
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