Ares Management (NYSE:ARES) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday, March 5th.
According to Zacks, “Ares Management, L.P. is a global alternative asset manager. It manages four investment groups that invest in the tradable credit, direct lending, and private equity and real estate markets. The company’s Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies. The company’s Private Equity Group segment focuses on majority or shared-control investments primarily in under-capitalized companies. Its Real Estate Group segment invests in new developments and the repositioning of assets; and originates and invests in a range of self-originated financing opportunities for middle-market owners and operators of commercial real estate. Ares Management, L.P. is headquartered in Los Angeles. “
Other analysts also recently issued reports about the stock. Wells Fargo downgraded shares of Ares Management from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. They noted that the move was a valuation call. Royal Bank of Canada set a $26.00 price objective on shares of Ares Management and gave the company a “buy” rating in a research report on Thursday, February 15th. ValuEngine raised shares of Ares Management from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 15th. Morgan Stanley reaffirmed an “equal weight” rating and set a $24.00 price objective (up from $20.00) on shares of Ares Management in a report on Thursday, March 1st. Finally, BidaskClub upgraded shares of Ares Management from a “hold” rating to a “buy” rating in a research note on Saturday, November 11th. Three 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 company. The stock currently has a consensus rating of “Buy” and an average target price of $25.50.
Ares Management (NYSE:ARES) last released its earnings results on Thursday, February 15th. The asset manager reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.06. The company had revenue of $356.30 million during the quarter, compared to the consensus estimate of $376.37 million. Ares Management had a net margin of 5.38% and a return on equity of 40.87%. The business’s revenue was down .5% compared to the same quarter last year. equities research analysts expect that Ares Management will post 1.7 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in Ares Management by 359.8% during the second quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock worth $177,000 after purchasing an additional 7,700 shares during the period. Commerce Bank acquired a new stake in shares of Ares Management during the third quarter worth $205,000. Goldman Sachs Group Inc. raised its stake in Ares Management by 37.9% in the second quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock valued at $261,000 after purchasing an additional 3,982 shares in the last quarter. Stifel Financial Corp acquired a new position in Ares Management in the third quarter valued at about $278,000. Finally, York Capital Management Global Advisors LLC acquired a new position in Ares Management in the fourth quarter valued at about $957,000. 17.09% of the stock is owned by institutional investors and hedge funds.
WARNING: This report was reported by BBNS and is the property of of BBNS. If you are accessing this report on another publication, it was illegally copied and republished in violation of international trademark & copyright laws. The original version of this report can be viewed at https://baseballnewssource.com/2018/03/30/ares-management-ares-rating-lowered-to-sell-at-zacks-investment-research/1977937.html.
About Ares Management
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ares Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management and related companies with MarketBeat.com's FREE daily email newsletter.