Ares Management LP Unit (NYSE:ARES) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Other research analysts have also recently issued research reports about the stock. Bank of America raised their target price on shares of Ares Management LP Unit from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research upgraded shares of Ares Management LP Unit from a “sell” rating to a “hold” rating in a report on Tuesday, June 12th. JPMorgan Chase & Co. restated a “$21.50” rating and issued a $23.00 target price on shares of Ares Management LP Unit in a report on Monday, July 23rd. Wells Fargo & Co upgraded shares of Ares Management LP Unit from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 21st. Finally, Jefferies Financial Group started coverage on shares of Ares Management LP Unit in a report on Thursday, June 28th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. Ares Management LP Unit has a consensus rating of “Buy” and an average price target of $26.88.

Shares of ARES stock traded up $0.70 during trading hours on Wednesday, hitting $23.00. 1,397,200 shares of the company’s stock were exchanged, compared to its average volume of 434,289. The company has a market capitalization of $2.12 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27. Ares Management LP Unit has a 12-month low of $18.00 and a 12-month high of $25.95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.04 and a current ratio of 1.04.

Ares Management LP Unit (NYSE:ARES) last posted its quarterly earnings results on Thursday, August 2nd. The asset manager reported $0.34 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.06). The business had revenue of $204.20 million for the quarter, compared to analysts’ expectations of $320.11 million. Ares Management LP Unit had a return on equity of 30.98% and a net margin of 8.70%. The company’s revenue was down 63.1% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share. research analysts predict that Ares Management LP Unit will post 1.55 EPS for the current year.

In other news, CFO Michael R. Mcferran bought 7,500 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were purchased at an average price of $21.21 per share, for a total transaction of $159,075.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of large investors have recently added to or reduced their stakes in ARES. Wells Fargo & Company MN boosted its holdings in Ares Management LP Unit by 8.6% in the first quarter. Wells Fargo & Company MN now owns 978,537 shares of the asset manager’s stock valued at $20,941,000 after acquiring an additional 77,651 shares in the last quarter. BlackRock Inc. bought a new stake in Ares Management LP Unit in the first quarter valued at $2,422,000. Federated Investors Inc. PA bought a new stake in Ares Management LP Unit in the first quarter valued at $21,950,000. Citigroup Inc. boosted its holdings in Ares Management LP Unit by 56,147.8% in the first quarter. Citigroup Inc. now owns 130,495 shares of the asset manager’s stock valued at $2,793,000 after acquiring an additional 130,263 shares in the last quarter. Finally, Lee Capital Management LP boosted its holdings in Ares Management LP Unit by 20.0% in the first quarter. Lee Capital Management LP now owns 60,000 shares of the asset manager’s stock valued at $1,284,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 39.55% of the company’s stock.

Ares Management LP Unit Company Profile

Ares Management, L.P. 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 LP Unit (NYSE:ARES)

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