Morgan Stanley Reiterates Equal Weight Rating for Ares Management (ARES)
Ares Management (NYSE:ARES)‘s stock had its “equal weight” rating reissued by investment analysts at Morgan Stanley in a research report issued on Thursday. They presently have a $24.00 price target on the asset manager’s stock, up from their previous price target of $20.00. Morgan Stanley’s target price points to a potential downside of 2.44% from the company’s previous close.
ARES has been the topic of several other reports. Credit Suisse Group reaffirmed an “outperform” rating and issued a $33.00 target price (up from $25.00) on shares of Ares Management in a research report on Wednesday, January 10th. They noted that the move was a valuation call. Zacks Investment Research lowered Ares Management from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Ares Management in a research report on Friday, November 3rd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $24.00 target price on shares of Ares Management in a research report on Thursday, January 11th. Finally, BidaskClub raised Ares Management from a “hold” rating to a “buy” rating in a research report on Saturday, November 11th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Ares Management currently has a consensus rating of “Buy” and a consensus price target of $24.86.
Ares Management (ARES) opened at $24.60 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.37 and a quick ratio of 0.37. Ares Management has a 52-week low of $17.25 and a 52-week high of $25.95. The firm has a market capitalization of $2,048.27, a PE ratio of 40.33, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.
Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in shares of Ares Management by 359.8% during the 2nd quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock valued at $177,000 after acquiring an additional 7,700 shares during the last quarter. Commerce Bank acquired a new position in shares of Ares Management during the 3rd quarter valued at about $205,000. Goldman Sachs Group Inc. increased its holdings in shares of Ares Management by 37.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock valued at $261,000 after acquiring an additional 3,982 shares during the last quarter. Stifel Financial Corp acquired a new position in shares of Ares Management during the 3rd quarter valued at about $278,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Ares Management by 79.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 18,827 shares of the asset manager’s stock valued at $338,000 after acquiring an additional 8,356 shares during the last quarter. 17.13% of the stock is currently owned by institutional investors and hedge funds.
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Ares Management 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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