Ares Management (NYSE:ARES) Stock Price Target Cut by TD Cowen

Ares Management (NYSE:ARES) had its target price dropped by research analysts at TD Cowen from $163.00 to $159.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. TD Cowen’s target price suggests a potential upside of 37.43% from the stock’s current price.

Several other brokerages have also commented on ARES. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $144.00 price objective on shares of Ares Management in a report on Monday, August 3rd. Morgan Stanley set a $160.00 price objective on Ares Management in a research report on Tuesday, July 21st. Barclays reduced their target price on Ares Management from $140.00 to $139.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Wells Fargo & Company started coverage on Ares Management in a research report on Friday, October 2nd. They issued an “overweight” rating and a $136.00 target price for the company. Finally, Royal Bank Of Canada increased their target price on Ares Management from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.38.

Ares Management Stock Performance

NYSE:ARES opened at $115.70 on Monday. The firm’s fifty day simple moving average is $131.63 and its 200 day simple moving average is $124.37. Ares Management has a twelve month low of $95.80 and a twelve month high of $181.19. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.00. The stock has a market cap of $38.21 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 1.05 and a beta of 1.53.

Ares Management (NYSE:ARES) last announced its earnings results 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. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, research analysts predict that Ares Management will post 5.90 EPS for the current year.

Institutional Trading of Ares Management

Several institutional investors have recently bought and sold shares of the company. Triumph Capital Management raised its position in shares of Ares Management by 127.3% during the 2nd quarter. Triumph Capital Management now owns 250 shares of the asset manager’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. CoreCap Advisors LLC lifted its stake in Ares Management by 178.0% during the third quarter. CoreCap Advisors LLC now owns 253 shares of the asset manager’s stock worth $29,000 after purchasing an additional 162 shares during the last quarter. Osbon Capital Management LLC acquired a new position in Ares Management in the fourth quarter valued at approximately $32,000. QRG Capital Management Inc. boosted its holdings in Ares Management by 7.1% in the first quarter. QRG Capital Management Inc. now owns 3,345 shares of the asset manager’s stock valued at $365,000 after purchasing an additional 221 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Ares Management by 99.1% in the third quarter. Versant Capital Management Inc now owns 444 shares of the asset manager’s stock valued at $52,000 after purchasing an additional 221 shares in the last quarter. 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 investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company serves institutional investors, including pension plans, insurance companies, endowments and foundations, as well as wealth-management clients and other investors.

Its investment businesses include direct lending and other private credit strategies, liquid credit, corporate private equity, real estate, infrastructure and secondary investments.