Oppenheimer Has Lowered Expectations for Ares Management (NYSE:ARES) Stock Price

Ares Management (NYSE:ARES) had its target price dropped by analysts at Oppenheimer from $146.00 to $140.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. Oppenheimer’s target price would indicate a potential upside of 12.23% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Citizens Jmp dropped their price target on Ares Management from $190.00 to $160.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th. Barclays dropped their price objective on shares of Ares Management from $140.00 to $139.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ares Management in a research report on Wednesday, April 29th. Citigroup reaffirmed an “outperform” rating on shares of Ares Management in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group decreased their target price on shares of Ares Management from $165.00 to $131.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Ares Management presently has an average rating of “Moderate Buy” and an average target price of $159.13.

Ares Management Trading Down 0.5%

Shares of ARES traded down $0.69 during mid-day trading on Friday, reaching $124.74. 368,045 shares of the company’s stock traded hands, compared to its average volume of 3,250,751. The stock’s 50-day moving average is $123.78 and its two-hundred day moving average is $127.12. The stock has a market cap of $41.15 billion, a P/E ratio of 57.92, a P/E/G ratio of 1.11 and a beta of 1.51. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.23 and a quick ratio of 0.23. Ares Management has a 12 month low of $95.80 and a 12 month high of $195.26.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, May 1st. The asset manager reported $1.24 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.08). The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Ares Management had a return on equity of 22.14% and a net margin of 10.54%.During the same period in the prior year, the business earned $1.09 EPS. Research analysts forecast that Ares Management will post 6.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ares Management

Several hedge funds have recently bought and sold shares of the company. Osbon Capital Management LLC purchased a new stake in shares of Ares Management in the 4th quarter valued at approximately $32,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in Ares Management during the 4th quarter worth $42,000. Elyxium Wealth LLC acquired a new position in Ares Management in the fourth quarter valued at $42,000. Summit Securities Group LLC acquired a new position in Ares Management in the fourth quarter valued at $49,000. Finally, AlphaCentric Advisors LLC purchased a new position in shares of Ares Management during the fourth quarter worth about $62,000. 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 asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high?net?worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.