Ares Management (NYSE:ARES) Coverage Initiated at Royal Bank of Canada

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Royal Bank of Canada began coverage on shares of Ares Management (NYSE:ARES) in a research report report published on Tuesday. The firm issued an outperform rating and a $20.00 target price on the asset manager’s stock.

A number of other equities research analysts have also recently commented on ARES. Morgan Stanley increased their target price on Ares Management from $26.00 to $28.00 and gave the company an equal weight rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on Ares Management from $31.00 to $34.00 and gave the stock an overweight rating in a report on Thursday, November 7th. Wells Fargo & Co raised their price objective on Ares Management from $33.00 to $37.00 and gave the stock an outperform rating in a report on Thursday, September 12th. UBS Group raised their price objective on Ares Management from $32.00 to $34.00 and gave the stock a buy rating in a report on Monday, November 4th. Finally, Bank of America restated a buy rating and set a $33.00 price objective on shares of Ares Management in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. Ares Management has a consensus rating of Buy and an average price target of $30.60.

NYSE:ARES traded down $0.14 during trading hours on Tuesday, reaching $31.57. 286,560 shares of the company traded hands, compared to its average volume of 524,952. The firm’s 50-day moving average is $28.67 and its 200-day moving average is $27.79. The stock has a market cap of $3.66 billion, a P/E ratio of 22.23, a P/E/G ratio of 1.58 and a beta of 1.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.12 and a quick ratio of 0.12. Ares Management has a 1-year low of $16.18 and a 1-year high of $32.90.

Ares Management (NYSE:ARES) last announced its earnings results on Thursday, October 31st. The asset manager reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The company had revenue of $466.49 million for the quarter, compared to analyst estimates of $312.15 million. Ares Management had a net margin of 7.76% and a return on equity of 18.98%. Ares Management’s quarterly revenue was up 93.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 EPS. As a group, research analysts predict that Ares Management will post 1.52 earnings per share for the current year.

In other news, Director Ares Management Llc sold 1,080,862 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $0.10, for a total transaction of $108,086.20. Following the sale, the director now owns 86,857 shares in the company, valued at $8,685.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 151.62% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in Ares Management by 41.9% in the second quarter. Bank of New York Mellon Corp now owns 493,541 shares of the asset manager’s stock valued at $12,916,000 after acquiring an additional 145,797 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Ares Management by 4.9% in the second quarter. Oppenheimer & Co. Inc. now owns 18,696 shares of the asset manager’s stock valued at $489,000 after acquiring an additional 865 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new position in Ares Management in the second quarter valued at $51,000. Waddell & Reed Financial Inc. boosted its holdings in Ares Management by 11.5% in the second quarter. Waddell & Reed Financial Inc. now owns 760,036 shares of the asset manager’s stock valued at $19,890,000 after acquiring an additional 78,367 shares during the last quarter. Finally, Strs Ohio boosted its holdings in Ares Management by 470.3% in the third quarter. Strs Ohio now owns 98,100 shares of the asset manager’s stock valued at $2,630,000 after acquiring an additional 80,900 shares during the last quarter. Hedge funds and other institutional investors own 60.07% of the company’s stock.

About Ares Management

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.

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Analyst Recommendations for Ares Management (NYSE:ARES)

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