Ares Management L.P. (ARES) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Ares Management L.P. (NYSE:ARES) from a hold rating to a buy rating in a research report released on Tuesday, July 11th. The firm currently has $20.00 target price on the asset manager’s stock.
According to Zacks, “Ares Management, L.P. is a global alternative asset manager. It manages four investment groups that invest in the tradable credit, direct lending, and private equity and real estate markets. The company’s Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies. The company’s Private Equity Group segment focuses on majority or shared-control investments primarily in under-capitalized companies. Its Real Estate Group segment invests in new developments and the repositioning of assets; and originates and invests in a range of self-originated financing opportunities for middle-market owners and operators of commercial real estate. Ares Management, L.P. is headquartered in Los Angeles. “
Several other research analysts also recently weighed in on ARES. Keefe, Bruyette & Woods upgraded shares of Ares Management L.P. from a market perform rating to an outperform rating and set a $24.00 price objective on the stock in a report on Thursday, March 23rd. TheStreet upgraded shares of Ares Management L.P. from a c rating to a b- rating in a report on Wednesday, April 26th. Credit Suisse Group upgraded shares of Ares Management L.P. from a neutral rating to an outperform rating in a report on Thursday, May 11th. BidaskClub downgraded shares of Ares Management L.P. from a sell rating to a strong sell rating in a report on Saturday, June 17th. Finally, Royal Bank Of Canada assumed coverage on shares of Ares Management L.P. in a report on Thursday, June 29th. They issued an outperform rating and a $21.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $20.75.
Shares of Ares Management L.P. (NYSE ARES) traded up 0.55% during midday trading on Tuesday, reaching $18.30. 111,046 shares of the company were exchanged. The stock has a 50-day moving average price of $18.16 and a 200 day moving average price of $18.99. Ares Management L.P. has a 52-week low of $14.75 and a 52-week high of $23.25. The company has a market capitalization of $3.92 billion, a P/E ratio of 27.27 and a beta of 1.25.
Ares Management L.P. (NYSE:ARES) last released its quarterly earnings data on Friday, August 4th. The asset manager reported $0.69 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.69. Ares Management L.P. had a net margin of 5.86% and a return on equity of 40.40%. The firm had revenue of $554 million for the quarter, compared to the consensus estimate of $442.10 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. The business’s revenue was up 49.9% on a year-over-year basis. Equities research analysts expect that Ares Management L.P. will post $1.82 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a $0.31 dividend. This is a positive change from Ares Management L.P.’s previous quarterly dividend of $0.13. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date of this dividend is Wednesday, August 16th. Ares Management L.P.’s dividend payout ratio (DPR) is 71.23%.
Several institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its position in Ares Management L.P. by 9.7% in the first quarter. Sei Investments Co. now owns 60,906 shares of the asset manager’s stock worth $1,154,000 after buying an additional 5,366 shares during the period. Bank of New York Mellon Corp raised its position in Ares Management L.P. by 79.8% in the second quarter. Bank of New York Mellon Corp now owns 18,827 shares of the asset manager’s stock worth $338,000 after buying an additional 8,356 shares during the period. PNC Financial Services Group Inc. raised its position in 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 during the period. Navellier & Associates Inc purchased a new position in Ares Management L.P. during the first quarter worth approximately $299,000. Finally, Marshall Wace North America L.P. purchased a new position in Ares Management L.P. during the second quarter worth approximately $479,000. Institutional investors own 14.67% of the company’s stock.
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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