TD Cowen Raises Ares Management (NYSE:ARES) Price Target to $175.00

Ares Management (NYSE:ARES) had its price target hoisted by analysts at TD Cowen from $162.00 to $175.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. TD Cowen’s target price would suggest a potential upside of 12.24% from the stock’s current price.

A number of other brokerages have also recently weighed in on ARES. UBS Group decreased their price objective on Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. upped their price objective on Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company increased their price target on Ares Management from $156.00 to $172.00 and gave the company an “equal weight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price target on Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a research note on Thursday, August 15th. Finally, The Goldman Sachs Group increased their price target on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Ares Management currently has a consensus rating of “Moderate Buy” and an average target price of $150.00.

Ares Management Stock Up 1.6 %

Shares of ARES stock traded up $2.53 during mid-day trading on Wednesday, hitting $155.91. The stock had a trading volume of 1,496,066 shares, compared to its average volume of 1,129,401. Ares Management has a 12-month low of $96.00 and a 12-month high of $161.56. The firm has a market capitalization of $48.30 billion, a P/E ratio of 69.91, a price-to-earnings-growth ratio of 1.47 and a beta of 1.22. The firm’s 50-day moving average is $147.42 and its two-hundred day moving average is $141.31. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The business had revenue of $788.68 million during the quarter, compared to analysts’ expectations of $860.09 million. During the same period in the prior year, the business earned $0.90 EPS. On average, analysts predict that Ares Management will post 4.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ryan Berry sold 20,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $160.07, for a total transaction of $3,201,400.00. Following the sale, the insider now directly owns 344,202 shares of the company’s stock, valued at $55,096,414.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ares Management news, insider Ryan Berry sold 20,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $160.07, for a total transaction of $3,201,400.00. Following the transaction, the insider now owns 344,202 shares in the company, valued at approximately $55,096,414.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Bennett Rosenthal sold 26,579 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $142.66, for a total value of $3,791,760.14. Following the transaction, the chairman now owns 75,000 shares in the company, valued at $10,699,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 624,316 shares of company stock valued at $90,919,400 over the last ninety days. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Ares Management

Hedge funds have recently bought and sold shares of the business. Compass Wealth Management LLC purchased a new position in Ares Management during the first quarter worth approximately $28,000. Riverview Trust Co purchased a new position in shares of Ares Management in the first quarter valued at approximately $29,000. West Oak Capital LLC lifted its position in shares of Ares Management by 66.7% in the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. J.Safra Asset Management Corp lifted its position in shares of Ares Management by 717.6% in the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 244 shares in the last quarter. Finally, Key Financial Inc purchased a new position in shares of Ares Management in the second quarter valued at approximately $53,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Company Profile

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.