Ares Management (NYSE:ARES) Earns Buy Rating from Analysts at TD Cowen

Equities researchers at TD Cowen assumed coverage on shares of Ares Management (NYSE:ARES) in a research note issued on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $154.00 price target on the asset manager’s stock. TD Cowen’s target price would suggest a potential upside of 11.13% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Ares Management from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. UBS Group increased their target price on Ares Management from $156.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Morgan Stanley increased their target price on Ares Management from $109.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Barclays dropped their target price on Ares Management from $153.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Finally, Wells Fargo & Company increased their target price on Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $128.08.

Ares Management Stock Up 0.9 %

Shares of NYSE:ARES opened at $138.58 on Tuesday. Ares Management has a 52-week low of $80.07 and a 52-week high of $140.35. The stock has a market cap of $42.90 billion, a P/E ratio of 62.14, a price-to-earnings-growth ratio of 1.00 and a beta of 1.17. The business’s 50 day moving average is $133.47 and its 200 day moving average is $122.32. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Thursday, May 2nd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.13). Ares Management had a return on equity of 21.63% and a net margin of 12.86%. The firm had revenue of $707.36 million during the quarter, compared to the consensus estimate of $814.88 million. During the same period last year, the company earned $0.71 EPS. Sell-side analysts predict that Ares Management will post 4.47 EPS for the current year.

Insider Transactions at Ares Management

In other news, Chairman Antony P. Ressler sold 175,152 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $133.56, for a total value of $23,393,301.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Antony P. Ressler sold 175,152 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $133.56, for a total value of $23,393,301.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Antony P. Ressler sold 174,258 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $134.89, for a total value of $23,505,661.62. The disclosure for this sale can be found here. Insiders sold 1,494,440 shares of company stock valued at $199,049,946 in the last quarter. 41.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ares Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARES. Hollencrest Capital Management purchased a new position in Ares Management in the 3rd quarter worth $27,000. Compass Wealth Management LLC purchased a new position in shares of Ares Management during the 1st quarter valued at about $28,000. Rise Advisors LLC raised its stake in shares of Ares Management by 73.9% during the 4th quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock valued at $29,000 after buying an additional 102 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Ares Management during the 1st quarter valued at about $29,000. Finally, Hartford Financial Management Inc. raised its stake in shares of Ares Management by 47.4% during the 4th quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Company Profile

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.