Royal Bank of Canada Forecasts Strong Price Appreciation for Ares Management (NYSE:ARES) Stock

Ares Management (NYSE:ARES) had its price target raised by investment analysts at Royal Bank of Canada from $170.00 to $185.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Royal Bank of Canada’s price target indicates a potential upside of 12.44% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Barclays upped their price target on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. TD Cowen raised their target price on Ares Management from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Redburn Atlantic initiated coverage on Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target on the stock. UBS Group raised their price objective on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their target price on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and an average price target of $166.00.

Ares Management Stock Performance

NYSE ARES opened at $164.53 on Monday. The firm’s fifty day moving average price is $156.49 and its two-hundred day moving average price is $146.00. The stock has a market cap of $51.50 billion, a PE ratio of 75.82, a PEG ratio of 1.56 and a beta of 1.20. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management has a fifty-two week low of $101.44 and a fifty-two week high of $171.78.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating the consensus estimate of $0.94 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a return on equity of 20.51% and a net margin of 12.51%. During the same period last year, the company earned $0.83 earnings per share. On average, equities analysts expect that Ares Management will post 4.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Ares Management news, insider Ryan Berry sold 57,500 shares of Ares Management stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total value of $8,092,550.00. Following the completion of the sale, the insider now directly owns 456,702 shares of the company’s stock, valued at approximately $64,276,239.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Bennett Rosenthal sold 27,172 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,958,145.24. Following the transaction, the chairman now directly owns 222,828 shares in the company, valued at $32,459,354.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan Berry sold 57,500 shares of Ares Management stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the completion of the sale, the insider now directly owns 456,702 shares of the company’s stock, valued at approximately $64,276,239.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 622,640 shares of company stock valued at $91,378,848 over the last ninety days. 41.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. J.Safra Asset Management Corp lifted its position in Ares Management by 717.6% in the 1st 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. Eastern Bank purchased a new stake in shares of Ares Management in the third quarter worth approximately $39,000. West Oak Capital LLC lifted its holdings in shares of Ares Management by 40.0% in the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. Key Financial Inc purchased a new position in shares of Ares Management during the second quarter valued at approximately $53,000. Finally, EntryPoint Capital LLC bought a new stake in Ares Management during the first quarter worth $54,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

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.