Ares Management L.P. (ARES) Rating Reiterated by Keefe, Bruyette & Woods
Ares Management L.P. (NYSE:ARES)‘s stock had its “outperform” rating reissued by Keefe, Bruyette & Woods in a note issued to investors on Tuesday, July 4th, StockTargetPrices.com reports.
ARES has been the subject of several other reports. BidaskClub lowered Ares Management L.P. from a “sell” rating to a “strong sell” rating in a report on Saturday, June 17th. Credit Suisse Group upgraded Ares Management L.P. from a “neutral” rating to an “outperform” rating in a report on Thursday, May 11th. TheStreet upgraded Ares Management L.P. from a “c” rating to a “b-” rating in a report on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) started coverage on shares of Ares Management L.P. in a research report on Friday, March 10th. They set a “neutral” rating and a $21.00 target price on the stock. Finally, Royal Bank Of Canada started coverage on shares of Ares Management L.P. in a research report on Thursday, June 29th. They set an “outperform” rating and a $21.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $20.75.
Shares of Ares Management L.P. (ARES) traded down 0.27% during midday trading on Tuesday, hitting $18.20. The stock had a trading volume of 87,468 shares. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 27.12 and a beta of 1.25. The company’s 50-day moving average price is $18.16 and its 200-day moving average price is $18.99. Ares Management L.P. has a 12-month low of $14.75 and a 12-month high of $23.25.
Ares Management L.P. (NYSE:ARES) last released its earnings results on Friday, August 4th. The asset manager reported $0.69 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.69. The company had revenue of $554 million during the quarter, compared to analyst estimates of $442.10 million. Ares Management L.P. had a return on equity of 35.09% and a net margin of 5.65%. The company’s revenue for the quarter was up 49.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. Equities research analysts forecast that Ares Management L.P. will post $1.82 EPS for the current year.
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Hedge funds have recently modified their holdings of the stock. UBS Group AG raised its stake in shares of Ares Management L.P. by 23.2% in the first quarter. UBS Group AG now owns 176,447 shares of the asset manager’s stock worth $3,344,000 after buying an additional 33,235 shares in the last quarter. Greenwich Investment Management Inc. bought a new stake in shares of Ares Management L.P. during the first quarter worth $1,245,000. Segall Bryant & Hamill LLC raised its stake in shares of Ares Management L.P. by 326.5% in the first quarter. Segall Bryant & Hamill LLC now owns 469,150 shares of the asset manager’s stock worth $8,890,000 after buying an additional 359,150 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Ares Management L.P. by 11.6% in the first quarter. PNC Financial Services Group Inc. now owns 139,388 shares of the asset manager’s stock worth $2,641,000 after buying an additional 14,453 shares in the last quarter. Finally, Royce & Associates LP raised its stake in shares of Ares Management L.P. by 1.0% in the first quarter. Royce & Associates LP now owns 3,646,776 shares of the asset manager’s stock worth $69,106,000 after buying an additional 36,000 shares in the last quarter. 14.67% of the stock is owned by institutional investors and hedge funds.
Ares Management L.P. Company Profile
Ares Management, L.P. is an alternative asset manager. The Company offers its investors a range of investment strategies. It operates through three segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment manages credit strategies across the non-investment grade credit universe in the United States and Europe.
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