Ares Management L.P. (NYSE:ARES) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Saturday.
A number of other equities analysts have also commented on ARES. Zacks Investment Research lowered Ares Management L.P. from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. ValuEngine lowered Ares Management L.P. from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Royal Bank Of Canada set a $21.00 price objective on Ares Management L.P. and gave the company a “buy” rating in a research note on Saturday, August 5th. TheStreet raised Ares Management L.P. from a “c” rating to a “b-” rating in a research note on Thursday, August 17th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $22.00 price objective on shares of Ares Management L.P. in a research note on Tuesday, September 5th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $21.00.
Ares Management L.P. (NYSE ARES) opened at $18.80 on Friday. Ares Management L.P. has a twelve month low of $15.75 and a twelve month high of $23.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.37 and a quick ratio of 0.43. The company has a market capitalization of $1,545.57, a price-to-earnings ratio of 10.27, a PEG ratio of 0.78 and a beta of 1.23.
Ares Management L.P. (NYSE:ARES) last posted its quarterly earnings results on Friday, November 3rd. The asset manager reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. Ares Management L.P. had a return on equity of 39.54% and a net margin of 4.98%. The firm had revenue of $283.67 million during the quarter, compared to analyst estimates of $286.76 million. During the same period last year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was down 15.4% on a year-over-year basis. research analysts anticipate that Ares Management L.P. will post 1.8 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley raised its position in Ares Management L.P. by 96.0% during the first quarter. Morgan Stanley now owns 481,359 shares of the asset manager’s stock valued at $9,122,000 after purchasing an additional 235,816 shares in the last quarter. Capital World Investors purchased a new stake in Ares Management L.P. during the second quarter valued at about $9,649,000. James Investment Research Inc. purchased a new stake in Ares Management L.P. during the second quarter valued at about $1,200,000. GSA Capital Partners LLP purchased a new stake in Ares Management L.P. during the second quarter valued at about $932,000. Finally, PM CAPITAL Ltd purchased a new stake in Ares Management L.P. during the third quarter valued at about $7,785,000. Institutional investors and hedge funds own 15.11% of the company’s stock.
About Ares Management L.P.
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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