Ares Management (NYSE:ARES) Price Target Raised to $205.00 at JMP Securities

Key Points

• JMP Securities has raised its price target for Ares Management stock from $195.00 to $205.00, suggesting a potential upside of 7.35% from the previous close.
• Ares Management's stock recently traded at $190.96, showing an increase of 1.6%, while analysts maintain a consensus rating of "Moderate Buy."
• During the latest quarter, Ares Management reported $1.03 earnings per share, missing estimates, but achieving a revenue of $1.35 billion compared to the expected $1.02 billion.

Ares Management (NYSE:ARES - Get Free Report) had its price target raised by equities research analysts at JMP Securities from $195.00 to $205.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "market outperform" rating on the asset manager's stock. JMP Securities' price objective would indicate a potential upside of 8.55% from the stock's current price.

Other analysts have also recently issued reports about the company. Wells Fargo & Company boosted their price objective on Ares Management from $189.00 to $202.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Citigroup reissued an "outperform" rating on shares of Ares Management in a research note on Monday, July 14th. Wolfe Research set a $193.00 price objective on shares of Ares Management and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Raymond James Financial started coverage on shares of Ares Management in a research report on Monday, July 28th. They set a "market perform" rating for the company. Finally, TD Cowen reduced their price target on Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Ares Management currently has an average rating of "Moderate Buy" and an average price target of $178.19.

Ares Management Price Performance

Shares of Ares Management stock traded up $1.91 during midday trading on Wednesday, reaching $188.86. The company had a trading volume of 170,853 shares, compared to its average volume of 1,648,003. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. The stock has a fifty day simple moving average of $176.02 and a 200 day simple moving average of $166.80. Ares Management has a 1-year low of $110.63 and a 1-year high of $200.49. The company has a market capitalization of $61.68 billion, a price-to-earnings ratio of 109.21, a price-to-earnings-growth ratio of 1.48 and a beta of 1.40.

Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.12). The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.02 billion. Ares Management had a net margin of 9.47% and a return on equity of 16.49%. During the same period last year, the business posted $0.99 earnings per share. As a group, equities research analysts forecast that Ares Management will post 5.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider David B. Kaplan sold 33,145 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $165.12, for a total value of $5,472,902.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Arougheti sold 107,500 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $161.34, for a total transaction of $17,344,050.00. Following the sale, the chief executive officer owned 1,400,000 shares in the company, valued at approximately $225,876,000. The trade was a 7.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 873,145 shares of company stock worth $146,204,353. Company insiders own 36.86% of the company's stock.

Institutional Trading of Ares Management

A number of institutional investors have recently modified their holdings of ARES. IFP Advisors Inc lifted its stake in Ares Management by 129.6% in the 1st quarter. IFP Advisors Inc now owns 1,988 shares of the asset manager's stock valued at $291,000 after acquiring an additional 1,122 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Ares Management by 40.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,960 shares of the asset manager's stock valued at $1,167,000 after purchasing an additional 2,302 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Ares Management by 4.2% in the first quarter. Stratos Wealth Partners LTD. now owns 53,401 shares of the asset manager's stock worth $7,829,000 after purchasing an additional 2,171 shares in the last quarter. TCW Group Inc. lifted its position in shares of Ares Management by 99.5% in the first quarter. TCW Group Inc. now owns 31,765 shares of the asset manager's stock worth $4,657,000 after purchasing an additional 15,846 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Ares Management during the first quarter worth $667,000. 50.03% of the stock is currently owned by institutional investors.

About Ares Management

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.