Ares Management (NYSE:ARES) Given New $143.00 Price Target at Piper Sandler

Key Points

• Piper Sandler lowered its price target for Ares Management from $150 to $143 while maintaining an “overweight” rating, implying 25.87% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $154.25 based on one Strong Buy, twelve Buy, and six Hold ratings.
• Ares Management’s latest quarterly results modestly exceeded expectations, with earnings of $1.29 per share and revenue of $1.43 billion; revenue increased 5.8% year over year.

Ares Management (NYSE:ARES - Get Free Report) had its price objective cut by Piper Sandler from $150.00 to $143.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an "overweight" rating on the asset manager's stock. Piper Sandler's target price would suggest a potential upside of 25.87% from the stock's previous close.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company started coverage on shares of Ares Management in a research report on Friday, October 2nd. They issued an "overweight" rating and a $136.00 price objective for the company. Citigroup restated a "market outperform" rating on shares of Ares Management in a research note on Friday, October 9th. Citizens Jmp dropped their target price on shares of Ares Management from $190.00 to $160.00 and set a "market outperform" rating on the stock in a report on Thursday, July 9th. Oppenheimer upped their target price on shares of Ares Management from $151.00 to $162.00 and gave the company an "outperform" rating in a report on Thursday, August 27th. Finally, Morgan Stanley set a $149.00 target price on shares of Ares Management in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Ares Management presently has an average rating of "Moderate Buy" and a consensus target price of $154.25.

Ares Management Stock Up 1.2%

Shares of NYSE ARES traded up $1.34 during trading hours on Monday, hitting $113.61. The company had a trading volume of 607,525 shares, compared to its average volume of 2,918,917. The stock has a market capitalization of $37.52 billion, a P/E ratio of 52.11, a price-to-earnings-growth ratio of 1.01 and a beta of 1.53. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.00. Ares Management has a 1-year low of $95.80 and a 1-year high of $181.19. The firm's 50 day moving average is $130.09 and its 200-day moving average is $124.48.

Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The business had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.27 billion. During the same period last year, the business earned $1.03 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. On average, analysts expect that Ares Management will post 5.80 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ares Management

Several hedge funds have recently added to or reduced their stakes in ARES. Principal Financial Group Inc. raised its holdings in Ares Management by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 4,009,291 shares of the asset manager's stock valued at $437,417,000 after acquiring an additional 169,598 shares during the period. Vulcan Value Partners LLC lifted its position in Ares Management by 12.5% during the second quarter. Vulcan Value Partners LLC now owns 1,902,580 shares of the asset manager's stock worth $211,776,000 after acquiring an additional 211,404 shares during the last quarter. Janus Henderson Group PLC lifted its position in Ares Management by 43.8% during the first quarter. Janus Henderson Group PLC now owns 1,653,078 shares of the asset manager's stock worth $180,343,000 after acquiring an additional 503,688 shares during the last quarter. Curated Wealth Partners LLC boosted its holdings in shares of Ares Management by 968.3% during the third quarter. Curated Wealth Partners LLC now owns 1,450,854 shares of the asset manager's stock worth $168,546,000 after acquiring an additional 1,315,043 shares during the period. Finally, Hamlin Capital Management LLC boosted its holdings in shares of Ares Management by 6.6% during the third quarter. Hamlin Capital Management LLC now owns 1,022,899 shares of the asset manager's stock worth $118,830,000 after acquiring an additional 63,265 shares during the period. Institutional investors and hedge funds own 50.03% of the company's stock.

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 manages capital on behalf of institutional investors, pension funds, insurance companies, sovereign wealth funds, family offices and individual investors.

Its investment activities include direct lending and other credit strategies, control and minority investments in private companies, real estate and infrastructure investments, and secondary-market transactions involving private assets and fund interests.

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