Ares Management (NYSE:ARES) Price Target Raised to $185.00 at JMP Securities

Ares Management (NYSE:ARES) had its target price hoisted by analysts at JMP Securities from $165.00 to $185.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the asset manager’s stock. JMP Securities’ target price suggests a potential upside of 12.17% from the stock’s current price.

A number of other equities analysts have also weighed in on ARES. TD Cowen decreased their price target on shares of Ares Management from $216.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. StockNews.com cut Ares Management from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Oppenheimer upgraded Ares Management from a “market perform” rating to an “outperform” rating and set a $159.00 price target for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group reduced their price objective on Ares Management from $188.00 to $166.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Finally, Barclays increased their target price on shares of Ares Management from $142.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.50.

Ares Management Stock Performance

Ares Management stock opened at $164.93 on Thursday. The stock has a fifty day moving average price of $146.41 and a 200 day moving average price of $167.53. Ares Management has a 52 week low of $110.63 and a 52 week high of $200.49. The firm has a market capitalization of $52.02 billion, a P/E ratio of 81.25, a PEG ratio of 1.28 and a beta of 1.40. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.15. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. The company had revenue of $951.96 million during the quarter, compared to the consensus estimate of $914.00 million. During the same quarter in the prior year, the company posted $0.80 EPS. Equities research analysts anticipate that Ares Management will post 5.28 earnings per share for the current year.

Insider Activity

In other Ares Management news, Director Ashish Bhutani bought 10,000 shares of Ares Management stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $141.33 per share, for a total transaction of $1,413,300.00. Following the purchase, the director now owns 22,905 shares in the company, valued at $3,237,163.65. This represents a 77.49 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Bennett Rosenthal sold 69,809 shares of Ares Management stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $161.01, for a total transaction of $11,239,947.09. Following the completion of the sale, the chairman now owns 30,191 shares of the company’s stock, valued at approximately $4,861,052.91. This trade represents a 69.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 250,180 shares of company stock worth $39,411,066 over the last ninety days. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ARES. Transce3nd LLC bought a new position in shares of Ares Management during the fourth quarter worth about $29,000. Johnson Financial Group Inc. lifted its holdings in Ares Management by 104.8% during the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager’s stock worth $30,000 after buying an additional 87 shares during the last quarter. Elequin Capital LP bought a new stake in shares of Ares Management in the 4th quarter valued at approximately $33,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ares Management during the 1st quarter valued at approximately $28,000. Finally, Noble Wealth Management PBC bought a new position in Ares Management during the fourth quarter worth $36,000. 50.03% of the stock is currently owned by institutional investors.

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.