Ares Management (NYSE:ARES) Stock Rated Overweight in New Coverage at Piper Sandler

Investment analysts at Piper Sandler began coverage on shares of Ares Management (NYSE:ARES) in a research report issued on Thursday, MarketBeat reports. The firm set an “overweight” rating and a $150.00 price target on the asset manager’s stock. Piper Sandler’s price objective would suggest a potential upside of 22.84% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Citigroup reissued a “market outperform” rating on shares of Ares Management in a report on Monday, August 3rd. Royal Bank Of Canada boosted their target price on Ares Management from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods raised Ares Management to a “hold” rating in a report on Monday, July 20th. JPMorgan Chase & Co. upped their price objective on Ares Management from $143.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Finally, BMO Capital Markets increased their price objective on Ares Management from $128.00 to $134.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $159.81.

Ares Management Stock Performance

Shares of NYSE:ARES traded up $2.00 during trading on Thursday, reaching $122.11. The company had a trading volume of 1,575,612 shares, compared to its average volume of 2,986,243. Ares Management has a fifty-two week low of $95.80 and a fifty-two week high of $181.19. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.26 and a quick ratio of 0.26. The stock’s fifty day moving average price is $133.97 and its 200 day moving average price is $123.21. The firm has a market capitalization of $40.33 billion, a price-to-earnings ratio of 56.02, a price-to-earnings-growth ratio of 1.08 and a beta of 1.49.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the firm posted $1.03 EPS. Ares Management’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts predict that Ares Management will post 5.93 EPS for the current year.

Institutional Trading of Ares Management

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in Ares Management by 55.7% in the fourth quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager’s stock valued at $883,716,000 after acquiring an additional 1,963,460 shares during the last quarter. Capital International Investors increased its stake in Ares Management by 0.3% during the fourth quarter. Capital International Investors now owns 4,257,710 shares of the asset manager’s stock worth $688,176,000 after acquiring an additional 14,516 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Ares Management by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 4,009,291 shares of the asset manager’s stock worth $437,417,000 after purchasing an additional 169,598 shares during the period. Norges Bank purchased a new position in shares of Ares Management in the 4th quarter worth about $396,165,000. Finally, Vulcan Value Partners LLC lifted its stake in shares of Ares Management by 12.5% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,902,580 shares of the asset manager’s stock valued at $211,776,000 after purchasing an additional 211,404 shares in the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

About Ares Management

Ares Management Corporation is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company manages capital for institutional investors, financial intermediaries and individual investors through a range of private funds, public-market strategies and other investment vehicles.

Its investment activities include direct lending and other forms of private credit, corporate and growth-oriented private equity, real estate and infrastructure investments, and secondary-market transactions involving private investment interests.