Ares Management L.P. (NYSE:ARES) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $21.00 price objective on the asset manager’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.30% from the stock’s previous close.
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 equities research analysts have also issued research reports about the stock. BidaskClub upgraded shares of Ares Management L.P. from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 28th. TheStreet upgraded shares of Ares Management L.P. from a “c” rating to a “b-” rating in a research note on Thursday, August 17th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Ares Management L.P. in a research note on Tuesday, July 4th. Royal Bank Of Canada began coverage on shares of Ares Management L.P. in a research note on Thursday, June 29th. They issued an “outperform” rating and a $21.00 target price on the stock. Finally, Oppenheimer Holdings, Inc. began coverage on shares of Ares Management L.P. in a research note on Thursday, September 21st. They issued an “outperform” rating and a $18.00 target price on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $21.00.
Shares of Ares Management L.P. (NYSE:ARES) traded down 0.27% during trading on Monday, hitting $18.70. The company’s stock had a trading volume of 31,965 shares. The company has a market cap of $4.00 billion, a PE ratio of 25.03 and a beta of 1.25. The firm’s 50 day moving average price is $18.26 and its 200-day moving average price is $18.41. Ares Management L.P. has a 52 week low of $14.75 and a 52 week high of $23.25.
Ares Management L.P. (NYSE:ARES) last issued its earnings results on Friday, August 4th. The asset manager reported $0.69 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.69. The business had revenue of $554.00 million for the quarter, compared to analyst estimates of $442.10 million. Ares Management L.P. had a net margin of 5.86% and a return on equity of 40.94%. The company’s revenue for the quarter was up 49.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.40 EPS. On average, analysts predict that Ares Management L.P. will post $1.82 earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its position in shares of Ares Management L.P. 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 buying an additional 7,700 shares during the last quarter. Virtu KCG Holdings LLC bought a new stake in shares of Ares Management L.P. during the 2nd quarter valued at about $212,000. Goldman Sachs Group Inc. grew its position in shares of Ares Management L.P. 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 buying an additional 3,982 shares during the last quarter. Clinton Group Inc. bought a new stake in shares of Ares Management L.P. during the 2nd quarter valued at about $264,000. Finally, Balter Liquid Alternatives LLC bought a new stake in shares of Ares Management L.P. during the 2nd quarter valued at about $264,000. 14.68% of the stock is owned by institutional investors and hedge funds.
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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