Ares Management (NYSE:ARES) Stock Price Expected to Rise, TD Cowen Analyst Says

Ares Management (NYSE:ARES) had its price objective increased by stock analysts at TD Cowen from $175.00 to $197.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the asset manager’s stock. TD Cowen’s target price would indicate a potential upside of 28.49% from the company’s previous close.

ARES has been the topic of a number of other research reports. Wells Fargo & Company increased their price target on Ares Management from $189.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Cfra Research raised Ares Management to a “moderate buy” rating in a research report on Monday, August 4th. JMP Securities lifted their price objective on shares of Ares Management from $195.00 to $205.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 6th. BMO Capital Markets assumed coverage on shares of Ares Management in a research report on Friday, October 3rd. They set a “market perform” rating and a $156.00 price target for the company. Finally, Bank of America increased their price objective on shares of Ares Management from $196.00 to $197.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.07.

Ares Management Stock Performance

ARES stock traded down $2.18 during midday trading on Tuesday, reaching $153.32. The stock had a trading volume of 714,631 shares, compared to its average volume of 1,703,858. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08. Ares Management has a 52-week low of $110.63 and a 52-week high of $200.49. The stock has a market cap of $50.09 billion, a PE ratio of 88.67, a P/E/G ratio of 1.19 and a beta of 1.43. The firm has a fifty day simple moving average of $163.24 and a two-hundred day simple moving average of $168.81.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Monday, November 3rd. The asset manager reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same quarter in the previous year, the company earned $0.55 earnings per share. As a group, equities research analysts anticipate that Ares Management will post 5.28 EPS for the current year.

Insider Transactions at Ares Management

In other news, CEO Michael J. Arougheti sold 136,516 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $182.74, for a total transaction of $24,946,933.84. Following the completion of the transaction, the chief executive officer directly owned 311,728 shares in the company, valued at approximately $56,965,174.72. The trade was a 30.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Antony P. Ressler sold 196,197 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.79, for a total value of $35,078,061.63. Following the completion of the sale, the chairman owned 1,424,538 shares of the company’s stock, valued at $254,693,149.02. This trade represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,590,000 shares of company stock valued at $464,430,639 over the last three months. 36.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ares Management

Institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its holdings in Ares Management by 100.0% during the third quarter. Exchange Traded Concepts LLC now owns 190 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 95 shares in the last quarter. Financial Network Wealth Advisors LLC bought a new stake in shares of Ares Management in the 1st quarter valued at about $31,000. Elevation Point Wealth Partners LLC acquired a new position in Ares Management in the second quarter valued at about $35,000. Banque Transatlantique SA bought a new stake in Ares Management in the 1st quarter valued at $39,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Ares Management in the second quarter valued at approximately $43,000. Institutional investors own 50.03% of the company’s stock.

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.