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

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

ARES has been the topic of several other research reports. Wells Fargo & Company raised their price objective on Ares Management from $156.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Redburn Atlantic began coverage on Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. UBS Group decreased their target price on Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their target price on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $150.00.

Ares Management Stock Performance

ARES stock traded up $2.53 during trading on Wednesday, reaching $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 52 week low of $96.00 and a 52 week high of $161.56. The stock’s 50 day moving average is $147.42 and its two-hundred day moving average is $141.31. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The firm has a market cap of $48.30 billion, a PE ratio of 69.91, a PEG ratio of 1.47 and a beta of 1.22.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The company had revenue of $788.68 million for the quarter, compared to the consensus estimate of $860.09 million. During the same quarter in the prior year, the company earned $0.90 earnings per share. As a group, equities analysts anticipate that Ares Management will post 4.15 earnings per share for the current year.

Insiders Place Their Bets

In other Ares Management news, Chairman Bennett Rosenthal sold 75,000 shares of Ares Management stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $143.05, for a total value of $10,728,750.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Chairman Bennett Rosenthal sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $143.05, for a total transaction of $10,728,750.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ryan Berry sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $160.07, for a total value of $3,201,400.00. Following the transaction, the insider now directly owns 344,202 shares in the company, valued at approximately $55,096,414.14. 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 in the last quarter. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ares Management

Several large investors have recently modified their holdings of the stock. Gulf International Bank UK Ltd increased its position in shares of Ares Management by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 13,420 shares of the asset manager’s stock valued at $1,784,000 after purchasing an additional 90 shares during the last quarter. West Oak Capital LLC grew its position in Ares Management by 66.7% in the 1st 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 during the last quarter. First Horizon Advisors Inc. grew its position in Ares Management by 10.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,073 shares of the asset manager’s stock valued at $143,000 after acquiring an additional 105 shares during the last quarter. Americana Partners LLC grew its position in Ares Management by 7.2% in the 2nd quarter. Americana Partners LLC now owns 1,613 shares of the asset manager’s stock valued at $215,000 after acquiring an additional 108 shares during the last quarter. Finally, Chase Investment Counsel Corp grew its position in Ares Management by 0.4% in the 1st quarter. Chase Investment Counsel Corp now owns 32,668 shares of the asset manager’s stock valued at $4,344,000 after acquiring an additional 115 shares during the last quarter. 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.