Ares Management (NYSE:ARES) Stock Gets Price Target Trim from Piper Sandler

Ares Management (NYSE:ARES) had its target price lowered by stock analysts at Piper Sandler from $150.00 to $143.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the asset manager’s stock. Piper Sandler’s price target points to a potential upside of 25.87% from the stock’s current price.

ARES has been the topic of a number of other reports. Barclays lowered their price target on shares of Ares Management from $140.00 to $139.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. TD Cowen cut their price objective on shares of Ares Management from $163.00 to $159.00 and set a “buy” rating for the company in a report on Monday, October 12th. Citigroup reissued a “market outperform” rating on shares of Ares Management in a report on Friday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Ares Management from $143.00 to $153.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada raised their target price on shares of Ares Management from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and an average target price of $154.25.

Ares Management Stock Performance

ARES stock traded up $1.34 during trading hours on Monday, hitting $113.61. 607,525 shares of the stock were exchanged, compared to its average volume of 2,918,917. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $37.52 billion, a P/E ratio of 52.11, a P/E/G ratio of 1.01 and a beta of 1.53. The company has a 50-day simple moving average of $130.09 and a two-hundred day simple moving average of $124.48. Ares Management has a 12 month low of $95.80 and a 12 month high of $181.19.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. Ares Management’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 earnings per share. On average, analysts forecast that Ares Management will post 5.80 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARES. Triumph Capital Management grew its stake in Ares Management by 127.3% during the second quarter. Triumph Capital Management now owns 250 shares of the asset manager’s stock worth $28,000 after buying an additional 140 shares in the last quarter. CoreCap Advisors LLC increased its holdings in Ares Management by 178.0% in the 3rd quarter. CoreCap Advisors LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after buying an additional 162 shares during the period. Vontobel Holding Ltd. raised its position in shares of Ares Management by 3.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 4,751 shares of the asset manager’s stock valued at $552,000 after buying an additional 166 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Ares Management by 7.1% in the 1st quarter. QRG Capital Management Inc. now owns 3,345 shares of the asset manager’s stock valued at $365,000 after buying an additional 221 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Ares Management by 99.1% in the 3rd quarter. Versant Capital Management Inc now owns 444 shares of the asset manager’s stock valued at $52,000 after buying an additional 221 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Company Profile

Ares Management Corporation (NYSE: ARES) is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company manages capital on behalf of institutional investors, pension funds, insurance companies, sovereign wealth funds, family offices and individual investors.

Its investment activities include direct lending and other credit strategies, control and minority investments in private companies, real estate and infrastructure investments, and secondary-market transactions involving private assets and fund interests.