Oppenheimer Increases Ares Management (NYSE:ARES) Price Target to $162.00

Key Points

• Oppenheimer raised Ares Management’s price target from $151 to $162 while maintaining an “outperform” rating, implying 12.28% upside from the stock’s current price. Analysts overall assign ARES a “Moderate Buy” consensus rating with an average target of $160.47.
• Ares Management exceeded quarterly expectations, reporting $1.29 in earnings per share versus the $1.28 consensus estimate and $1.43 billion in revenue versus $1.27 billion expected. Revenue increased 5.8% year over year.
• ARES shares opened at $144.28 and were trading up 1.6%, while institutional investors and hedge funds owned approximately 50.03% of the company’s stock.

Ares Management (NYSE:ARES - Get Free Report) had its price objective hoisted by stock analysts at Oppenheimer from $151.00 to $162.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the asset manager's stock. Oppenheimer's price objective would suggest a potential upside of 12.28% from the stock's current price.

ARES has been the subject of several other research reports. Citigroup restated a "market outperform" rating on shares of Ares Management in a research report on Monday, August 3rd. Keefe, Bruyette & Woods raised shares of Ares Management to a "hold" rating in a research report on Monday, July 20th. Barclays cut their price target on shares of Ares Management from $140.00 to $139.00 and set an "overweight" rating on the stock in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $144.00 price target on shares of Ares Management in a research report on Monday, August 3rd. Finally, TD Cowen raised their price objective on Ares Management from $153.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Ares Management has a consensus rating of "Moderate Buy" and an average target price of $160.47.

Ares Management Trading Up 1.6%

ARES opened at $144.28 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.26 and a current ratio of 0.26. Ares Management has a one year low of $95.80 and a one year high of $186.85. The company has a market cap of $47.65 billion, a P/E ratio of 66.43, a PEG ratio of 1.24 and a beta of 1.49. The business's 50-day simple moving average is $128.29 and its 200-day simple moving average is $121.95.

Ares Management (NYSE:ARES - Get Free Report) last posted its earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.01. The firm had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.27 billion. Ares Management had a return on equity of 25.42% and a net margin of 10.63%.The firm's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 earnings per share. As a group, equities research analysts expect that Ares Management will post 5.94 EPS for the current fiscal year.

Institutional Trading of Ares Management

A number of large investors have recently bought and sold shares of ARES. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Ares Management in the second quarter valued at $1,831,000. Caz Investments LP acquired a new stake in shares of Ares Management during the second quarter worth about $11,131,000. California State Teachers Retirement System boosted its stake in shares of Ares Management by 10,879.6% during the second quarter. California State Teachers Retirement System now owns 33,559,520 shares of the asset manager's stock worth $3,735,510,000 after buying an additional 33,253,867 shares during the period. Greenland Capital Management LP grew its holdings in shares of Ares Management by 52.8% during the second quarter. Greenland Capital Management LP now owns 6,800 shares of the asset manager's stock worth $757,000 after buying an additional 2,350 shares during the last quarter. Finally, Wedmont Private Capital purchased a new position in shares of Ares Management during the second quarter worth about $301,000. 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 asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source