TD Cowen Forecasts Strong Price Appreciation for Ares Management (NYSE:ARES) Stock

Ares Management (NYSE:ARES) had its price objective raised by analysts at TD Cowen from $184.00 to $187.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. TD Cowen’s price target suggests a potential upside of 13.66% from the stock’s previous close.

A number of other analysts have also issued reports on ARES. Wells Fargo & Company boosted their price objective on Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday. Royal Bank of Canada upped their price target on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday. Morgan Stanley increased their price target on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Barclays upped their target price on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Ares Management from $148.00 to $146.00 and set a “hold” rating for the company in a research report on Monday. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $166.00.

Ares Management Trading Up 3.0 %

Shares of Ares Management stock opened at $164.53 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $51.50 billion, a P/E ratio of 75.82, a P/E/G ratio of 1.56 and a beta of 1.20. Ares Management has a 52-week low of $101.44 and a 52-week high of $171.78. The stock’s 50-day simple moving average is $156.49 and its 200 day simple moving average is $146.00.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 20.51%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $833.58 million. During the same period in the prior year, the company posted $0.83 EPS. As a group, research analysts anticipate that Ares Management will post 4.11 EPS for the current year.

Insider Activity

In related news, insider Ryan Berry sold 10,000 shares of Ares Management stock in a transaction on Monday, September 9th. The shares were sold at an average price of $142.12, for a total value of $1,421,200.00. Following the transaction, the insider now owns 446,702 shares in the company, valued at $63,485,288.24. 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 through the SEC website. In other news, CEO Michael J. Arougheti sold 27,120 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,950,570.40. Following the completion of the transaction, the chief executive officer now directly owns 222,880 shares of the company’s stock, valued at approximately $32,466,929.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ryan Berry sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $142.12, for a total value of $1,421,200.00. Following the completion of the sale, the insider now directly owns 446,702 shares in the company, valued at $63,485,288.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 622,640 shares of company stock valued at $91,378,848. Corporate insiders own 41.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. boosted its position in Ares Management by 103.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,315 shares of the asset manager’s stock valued at $672,000 after acquiring an additional 2,192 shares in the last quarter. Chase Investment Counsel Corp lifted its stake in shares of Ares Management by 2.1% in the 3rd quarter. Chase Investment Counsel Corp now owns 33,795 shares of the asset manager’s stock valued at $5,266,000 after purchasing an additional 689 shares during the period. Victory Capital Management Inc. boosted its position in shares of Ares Management by 6.5% during the third quarter. Victory Capital Management Inc. now owns 65,417 shares of the asset manager’s stock valued at $10,195,000 after purchasing an additional 4,000 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Ares Management by 2.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 406,363 shares of the asset manager’s stock worth $63,328,000 after purchasing an additional 10,942 shares during the period. Finally, GSA Capital Partners LLP bought a new position in Ares Management in the third quarter worth $900,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

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.