Ares Management (NYSE:ARES) Price Target Raised to $168.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Ares Management’s price target from $162 to $168 and maintained an “outperform” rating, implying 24.37% upside from the prior close.
• Ares reported quarterly EPS of $1.29, slightly above estimates, while revenue reached $1.43 billion and increased 5.8% year over year. Analysts collectively rate the stock “Moderate Buy,” with a consensus price target of $159.73.
• Ares shares rose to $135.08 during Monday trading. Institutional investors own approximately 50.03% of the company, and several funds recently increased their holdings.

Ares Management (NYSE:ARES - Get Free Report) had its price target boosted by stock analysts at Royal Bank Of Canada from $162.00 to $168.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the asset manager's stock. Royal Bank Of Canada's price objective points to a potential upside of 24.37% from the stock's previous close.

A number of other analysts also recently weighed in on ARES. Citigroup reissued a "market outperform" rating on shares of Ares Management in a report on Monday. Wall Street Zen lowered Ares Management from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. Keefe, Bruyette & Woods raised Ares Management to a "hold" rating in a report on Monday, July 20th. JPMorgan Chase & Co. reduced their target price on Ares Management from $188.00 to $144.00 and set an "overweight" rating for the company in a research report on Tuesday, April 28th. Finally, Oppenheimer lifted their price objective on Ares Management from $140.00 to $151.00 and gave the company an "outperform" rating in a report on Monday. One 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.73.

Ares Management Stock Performance

NYSE:ARES traded up $6.99 during midday trading on Monday, reaching $135.08. The stock had a trading volume of 1,220,381 shares, compared to its average volume of 3,188,345. 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 1-year low of $95.80 and a 1-year high of $195.26. The firm's fifty day simple moving average is $123.83 and its 200-day simple moving average is $123.61. The stock has a market capitalization of $44.55 billion, a P/E ratio of 62.16, a PEG ratio of 1.14 and a beta of 1.49.

Ares Management (NYSE:ARES - Get Free Report) last announced 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 return on equity of 25.47% and a net margin of 10.63%.The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts forecast that Ares Management will post 5.98 EPS for the current fiscal year.

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 the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ares Management by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager's stock worth $197,000 after acquiring an additional 70 shares during the last quarter. Wedbush Securities Inc. lifted its stake in Ares Management by 4.2% in the fourth quarter. Wedbush Securities Inc. now owns 2,030 shares of the asset manager's stock valued at $328,000 after buying an additional 81 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in Ares Management by 3.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,666 shares of the asset manager's stock valued at $431,000 after buying an additional 83 shares during the last quarter. First Manhattan CO. LLC. lifted its stake in shares of Ares Management by 0.5% during the 4th quarter. First Manhattan CO. LLC. now owns 17,634 shares of the asset manager's stock worth $2,850,000 after buying an additional 89 shares during the last quarter. Finally, Root Financial Partners LLC increased its stake in shares of Ares Management by 17.8% during the fourth quarter. Root Financial Partners LLC now owns 642 shares of the asset manager's stock worth $104,000 after purchasing an additional 97 shares during the period. Institutional investors own 50.03% of the company's stock.

Ares Management Company Profile

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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