Oppenheimer Forecasts Strong Price Appreciation for Ares Management (NYSE:ARES) Stock

Ares Management (NYSE:ARES) had its target price lifted by analysts at Oppenheimer from $151.00 to $162.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the asset manager’s stock. Oppenheimer’s price objective would indicate a potential upside of 12.28% from the company’s current price.

Several other research firms have also recently commented on ARES. Morgan Stanley set a $160.00 target price on shares of Ares Management in a research note on Tuesday, July 21st. JPMorgan Chase & Co. increased their price target on shares of Ares Management from $143.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods upgraded shares of Ares Management to a “hold” rating in a research report on Monday, July 20th. Wall Street Zen downgraded shares of Ares Management from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Finally, BMO Capital Markets lifted their price objective on Ares Management from $128.00 to $134.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $160.47.

Ares Management Price Performance

Ares Management stock opened at $144.28 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.26 and a quick ratio of 0.26. The business has a 50 day simple moving average of $128.29 and a 200-day simple moving average of $121.95. Ares Management has a 12 month low of $95.80 and a 12 month high of $186.85. The stock has a market capitalization of $47.65 billion, a PE ratio of 66.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.49.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.27 billion. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. Ares Management’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $1.03 EPS. Equities analysts predict that Ares Management will post 5.94 earnings per share for the current year.

Hedge Funds Weigh In On Ares Management

Several hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System boosted its position in Ares Management by 10,879.6% during the second quarter. California State Teachers Retirement System now owns 33,559,520 shares of the asset manager’s stock worth $3,735,510,000 after purchasing an additional 33,253,867 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Ares Management by 55.7% in the fourth quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager’s stock valued at $883,716,000 after buying an additional 1,963,460 shares in the last quarter. Capital International Investors raised its stake in shares of Ares Management by 0.3% during the 4th quarter. Capital International Investors now owns 4,257,710 shares of the asset manager’s stock worth $688,176,000 after buying an additional 14,516 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Ares Management by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 4,009,291 shares of the asset manager’s stock worth $437,417,000 after buying an additional 169,598 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Ares Management in the 4th quarter worth about $396,165,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

About Ares Management

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.