Ares Management (NYSE:ARES) Price Target Lowered to $140.00 at Oppenheimer

Key Points

• Oppenheimer lowered its price target on Ares Management from $146 to $140, while keeping an outperform rating on the stock.
• Despite the cut, the new target still implies about 12.23% upside from the previous close, and Wall Street remains broadly positive with a Moderate Buy consensus and a $159.13 average target.
• Ares shares were down 0.5% to $124.74, and the company recently reported quarterly EPS of $1.24, missing estimates even as revenue came in above expectations.

Ares Management (NYSE:ARES - Get Free Report) had its price target cut by stock analysts at Oppenheimer from $146.00 to $140.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the asset manager's stock. Oppenheimer's price target suggests a potential upside of 12.23% from the company's previous close.

A number of other research firms also recently issued reports on ARES. Citigroup restated an "outperform" rating on shares of Ares Management in a report on Thursday, July 9th. Weiss Ratings reissued a "hold (c)" rating on shares of Ares Management in a research report on Tuesday, May 26th. TD Cowen raised their price target on shares of Ares Management from $144.00 to $153.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. Morgan Stanley reduced their price objective on Ares Management from $178.00 to $163.00 and set an "equal weight" rating for the company in a report on Tuesday, April 21st. Finally, Barclays decreased their target price on Ares Management from $140.00 to $139.00 and set an "overweight" rating for the company in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Ares Management presently has an average rating of "Moderate Buy" and a consensus target price of $159.13.

Ares Management Trading Down 0.5%

NYSE ARES traded down $0.69 on Friday, reaching $124.74. The company had a trading volume of 368,045 shares, compared to its average volume of 3,250,751. The firm has a market cap of $41.15 billion, a price-to-earnings ratio of 57.92, a P/E/G ratio of 1.11 and a beta of 1.51. The business has a 50 day moving average of $123.78 and a two-hundred day moving average of $127.12. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.23 and a quick ratio of 0.23. Ares Management has a fifty-two week low of $95.80 and a fifty-two week high of $195.26.

Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.32 by ($0.08). The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.28 billion. Ares Management had a return on equity of 22.14% and a net margin of 10.54%.During the same quarter last year, the firm posted $1.09 EPS. Analysts forecast that Ares Management will post 6.02 EPS for the current year.

Institutional Trading of Ares Management

Several hedge funds and other institutional investors have recently made changes to their positions in ARES. Osbon Capital Management LLC bought a new position in Ares Management in the fourth quarter worth approximately $32,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Ares Management during the fourth quarter valued at about $42,000. Elyxium Wealth LLC purchased a new stake in Ares Management during the fourth quarter valued at $42,000. Summit Securities Group LLC purchased a new position in shares of Ares Management in the 4th quarter worth $49,000. Finally, Western Wealth Management LLC bought a new stake in shares of Ares Management in the 1st quarter worth about $50,000. Hedge funds and other institutional investors 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.

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