Ares Management (NYSE:ARES) Stock Rating Upgraded by UBS Group

Ares Management (NYSE:ARES) was upgraded by equities research analysts at UBS Group to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Several other equities research analysts have also recently commented on ARES. Keefe, Bruyette & Woods boosted their price target on shares of Ares Management from $188.00 to $189.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Barclays increased their target price on shares of Ares Management from $187.00 to $218.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank Of Canada restated an “outperform” rating and set a $215.00 target price on shares of Ares Management in a report on Monday, September 29th. Bank of America upped their price target on Ares Management from $196.00 to $197.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Finally, Oppenheimer set a $190.00 price objective on Ares Management and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.64.

Ares Management Stock Down 1.6%

ARES stock opened at $173.99 on Thursday. The firm’s 50-day moving average is $153.00 and its two-hundred day moving average is $168.18. The company has a market capitalization of $56.87 billion, a price-to-earnings ratio of 74.67, a price-to-earnings-growth ratio of 1.37 and a beta of 1.53. Ares Management has a 52 week low of $110.63 and a 52 week high of $200.49. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.62.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, October 31st. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. Ares Management had a net margin of 11.72% and a return on equity of 16.33%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business earned $0.55 earnings per share. On average, analysts forecast that Ares Management will post 5.28 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael J. Arougheti sold 56,257 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $157.26, for a total transaction of $8,846,975.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 590,000 shares of company stock valued at $90,653,808 over the last ninety days. 36.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ares Management

A number of institutional investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC raised its holdings in shares of Ares Management by 100.0% during the third quarter. Exchange Traded Concepts LLC now owns 190 shares of the asset manager’s stock worth $30,000 after acquiring an additional 95 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Ares Management in the 2nd quarter valued at approximately $35,000. Banque Transatlantique SA acquired a new position in Ares Management in the first quarter worth approximately $39,000. Redmont Wealth Advisors LLC acquired a new position in Ares Management in the third quarter worth approximately $40,000. Finally, Ameritas Advisory Services LLC bought a new position in Ares Management during the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 50.03% 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.