Ares Management (NYSE:ARES) Coverage Initiated at TD Cowen

Equities researchers at TD Cowen started coverage on shares of Ares Management (NYSE:ARES) in a report issued on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $154.00 price target on the asset manager’s stock. TD Cowen’s price target would suggest a potential upside of 11.13% from the company’s current price.

A number of other analysts have also issued reports on the company. Wells Fargo & Company boosted their price objective on Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Royal Bank of Canada upped their target price on Ares Management from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. UBS Group upped their target price on Ares Management from $156.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Morgan Stanley upped their target price on Ares Management from $109.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Finally, Barclays decreased their target price on Ares Management from $153.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $128.08.

Ares Management Stock Performance

NYSE:ARES opened at $138.58 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02. Ares Management has a 52-week low of $80.07 and a 52-week high of $140.35. The firm has a market cap of $42.90 billion, a price-to-earnings ratio of 62.14, a PEG ratio of 1.00 and a beta of 1.17. The business’s fifty day moving average is $133.47 and its 200 day moving average is $122.32.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Thursday, May 2nd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). Ares Management had a net margin of 12.86% and a return on equity of 21.63%. The company had revenue of $707.36 million for the quarter, compared to the consensus estimate of $814.88 million. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Research analysts predict that Ares Management will post 4.47 EPS for the current year.

Insider Activity

In related news, CEO Michael J. Arougheti sold 74,585 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $132.97, for a total transaction of $9,917,567.45. Following the completion of the sale, the chief executive officer now directly owns 1,375,000 shares in the company, valued at approximately $182,833,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider R. Kipp Deveer sold 82,796 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $136.47, for a total transaction of $11,299,170.12. Following the completion of the sale, the insider now directly owns 1,245,729 shares in the company, valued at approximately $170,004,636.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Arougheti sold 74,585 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $132.97, for a total value of $9,917,567.45. Following the sale, the chief executive officer now owns 1,375,000 shares of the company’s stock, valued at $182,833,750. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,494,440 shares of company stock worth $199,049,946. 41.89% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ares Management

Several institutional investors have recently bought and sold shares of the stock. Hollencrest Capital Management purchased a new stake in Ares Management in the 3rd quarter worth approximately $27,000. Compass Wealth Management LLC purchased a new stake in Ares Management in the 1st quarter worth approximately $28,000. Rise Advisors LLC lifted its holdings in Ares Management by 73.9% in the 4th quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock worth $29,000 after buying an additional 102 shares during the period. Riverview Trust Co purchased a new stake in Ares Management in the 1st quarter worth approximately $29,000. Finally, Hartford Financial Management Inc. lifted its holdings in Ares Management by 47.4% in the 4th quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock worth $33,000 after buying an additional 90 shares during the period. 50.03% of the stock is currently 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.