Ares Management (NYSE:ARES) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Ares Management (NYSE:ARES) had its target price hoisted by investment analysts at Wells Fargo & Company from $207.00 to $215.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 12.94% from the company’s previous close.

Several other research analysts have also weighed in on ARES. Morgan Stanley boosted their price target on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price target on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research note on Monday, November 11th. TD Cowen boosted their price objective on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, StockNews.com downgraded shares of Ares Management from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Ares Management has a consensus rating of “Moderate Buy” and a consensus price target of $176.17.

Ares Management Stock Performance

Shares of ARES opened at $190.36 on Thursday. The stock has a market capitalization of $59.59 billion, a price-to-earnings ratio of 87.72, a PEG ratio of 1.50 and a beta of 1.18. Ares Management has a 12 month low of $125.23 and a 12 month high of $200.49. The firm has a fifty day simple moving average of $183.41 and a 200 day simple moving average of $165.35. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.12). Ares Management had a return on equity of 19.89% and a net margin of 12.51%. Research analysts forecast that Ares Management will post 4.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Ares Management news, insider Ryan Berry sold 1,671 shares of Ares Management stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $175.00, for a total value of $292,425.00. Following the completion of the sale, the insider now owns 253,214 shares in the company, valued at $44,312,450. The trade was a 0.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Arougheti sold 15,825 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $167.24, for a total transaction of $2,646,573.00. Following the transaction, the chief executive officer now owns 214,079 shares in the company, valued at approximately $35,802,571.96. The trade was a 6.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 555,838 shares of company stock valued at $96,785,773. Insiders own 41.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ARES. Versant Capital Management Inc grew its stake in Ares Management by 67.0% during the fourth quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock worth $29,000 after buying an additional 65 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Ares Management during the 3rd quarter worth approximately $36,000. Noble Wealth Management PBC bought a new position in shares of Ares Management in the 4th quarter valued at $36,000. Eastern Bank acquired a new position in Ares Management during the third quarter worth about $39,000. Finally, GAMMA Investing LLC lifted its stake in Ares Management by 53.4% in the 4th quarter. GAMMA Investing LLC now owns 227 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 79 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

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.