Ares Management L.P. (NYSE:ARES) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
A number of other analysts have also weighed in on the company. TheStreet upgraded Ares Management L.P. from a “c” rating to a “b-” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded Ares Management L.P. from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday, July 11th. Royal Bank Of Canada set a $21.00 target price on Ares Management L.P. and gave the stock a “buy” rating in a research note on Saturday, August 5th. ValuEngine lowered Ares Management L.P. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $22.00 target price on shares of Ares Management L.P. in a research note on Tuesday, September 5th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $21.00.
Shares of Ares Management L.P. (ARES) opened at 18.55 on Wednesday. The company has a market cap of $3.97 billion, a PE ratio of 24.83 and a beta of 1.25. Ares Management L.P. has a 12-month low of $14.75 and a 12-month high of $23.25. The company has a 50-day moving average of $18.44 and a 200 day moving average of $18.39.
Ares Management L.P. (NYSE:ARES) last released its quarterly earnings results on Friday, August 4th. The asset manager reported $0.69 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.69. Ares Management L.P. had a return on equity of 40.94% and a net margin of 5.86%. The company had revenue of $554.00 million for the quarter, compared to analyst estimates of $442.10 million. During the same quarter in the prior year, the firm posted $0.40 EPS. Ares Management L.P.’s quarterly revenue was up 49.9% compared to the same quarter last year. On average, equities research analysts expect that Ares Management L.P. will post $1.81 EPS for the current year.
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Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Ares Management L.P. by 359.8% during the second quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock valued at $177,000 after buying an additional 7,700 shares during the period. Virtu KCG Holdings LLC purchased a new position in shares of Ares Management L.P. during the second quarter valued at $212,000. Goldman Sachs Group Inc. increased its stake in shares of Ares Management L.P. by 37.9% during the second quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock valued at $261,000 after buying an additional 3,982 shares during the period. Balter Liquid Alternatives LLC purchased a new position in shares of Ares Management L.P. during the second quarter valued at $264,000. Finally, Clinton Group Inc. purchased a new position in shares of Ares Management L.P. during the second quarter valued at $264,000. 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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