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

Key Points

• TD Cowen cut Ares Management’s price target from $163 to $159 while maintaining a “buy” rating, implying approximately 35.3% upside from the stock’s previous close.
• Analyst sentiment remains favorable, with the company holding a “Moderate Buy” consensus rating and an average price target of $156.25.
• Ares Management recently exceeded quarterly expectations, reporting $1.29 in EPS versus $1.28 estimated and $1.43 billion in revenue versus a $1.27 billion consensus estimate.

Ares Management (NYSE:ARES - Get Free Report) had its target price decreased by TD Cowen from $163.00 to $159.00 in a report released on Monday, Benzinga reports. The firm currently has a "buy" rating on the asset manager's stock. TD Cowen's target price would indicate a potential upside of 35.30% from the stock's previous close.

Other analysts have also issued reports about the stock. Royal Bank Of Canada upped their price objective on shares of Ares Management from $162.00 to $168.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $144.00 target price on shares of Ares Management in a research report on Monday, August 3rd. Barclays reduced their price target on shares of Ares Management from $140.00 to $139.00 and set an "overweight" rating for the company in a report on Thursday, July 9th. Keefe, Bruyette & Woods raised shares of Ares Management to a "hold" rating in a research report on Monday, July 20th. Finally, 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 target for the company. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Ares Management currently has an average rating of "Moderate Buy" and an average target price of $156.25.

Ares Management Stock Up 0.3%

NYSE ARES traded up $0.30 on Monday, reaching $117.52. 326,170 shares of the stock traded hands, compared to its average volume of 2,928,533. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.26 and a current ratio of 0.26. The company has a fifty day moving average price of $132.57 and a 200-day moving average price of $124.22. The company has a market cap of $38.81 billion, a price-to-earnings ratio of 53.93, a PEG ratio of 1.04 and a beta of 1.53. Ares Management has a 12 month low of $95.80 and a 12 month high of $181.19.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.01. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.27 billion. Ares Management had a return on equity of 25.42% and a net margin of 10.63%. The business's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 EPS. As a group, research analysts forecast that Ares Management will post 5.90 EPS for the current fiscal year.

Hedge Funds Weigh In On Ares Management

Hedge funds have recently modified their holdings of the stock. Triumph Capital Management grew its position in 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 purchasing an additional 140 shares during the period. CoreCap Advisors LLC raised its stake in shares of Ares Management by 178.0% during the 3rd quarter. CoreCap Advisors LLC now owns 253 shares of the asset manager's stock valued at $29,000 after buying an additional 162 shares during the last quarter. Osbon Capital Management LLC acquired a new position in shares of Ares Management in the 4th quarter valued at about $32,000. QRG Capital Management Inc. lifted its holdings in shares of Ares Management by 7.1% in the 1st quarter. QRG Capital Management Inc. now owns 3,345 shares of the asset manager's stock valued at $365,000 after buying an additional 221 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Ares Management by 99.1% in the 3rd quarter. Versant Capital Management Inc now owns 444 shares of the asset manager's stock valued at $52,000 after buying an additional 221 shares during the period. Institutional investors and hedge funds own 50.03% of the company's stock.

Ares Management Company Profile

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.

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