Ares Management LP Unit (ARES) Given a $28.00 Price Target by Oppenheimer Analysts

Ares Management LP Unit (NYSE:ARES) has been assigned a $28.00 price objective by Oppenheimer in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the asset manager’s stock. Oppenheimer’s price target points to a potential upside of 33.14% from the company’s previous close.

Several other analysts have also issued reports on ARES. Zacks Investment Research lowered Ares Management LP Unit from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. JPMorgan Chase & Co. reiterated a “$21.50” rating and set a $23.00 target price on shares of Ares Management LP Unit in a report on Monday, July 23rd. Wells Fargo & Co upgraded Ares Management LP Unit from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 21st. Bank of America upped their target price on Ares Management LP Unit from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, September 17th. Finally, ValuEngine upgraded Ares Management LP Unit from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $26.75.

ARES traded up $0.46 on Friday, hitting $21.03. 670,671 shares of the company were exchanged, compared to its average volume of 538,719. Ares Management LP Unit has a 12 month low of $18.00 and a 12 month high of $25.95. The firm has a market capitalization of $2.07 billion, a PE ratio of 10.90, a PEG ratio of 1.72 and a beta of 1.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.04 and a current ratio of 1.04.

Ares Management LP Unit (NYSE:ARES) last released its earnings results on Thursday, November 1st. The asset manager reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.08). Ares Management LP Unit had a return on equity of 28.88% and a net margin of 7.93%. The company had revenue of $240.78 million for the quarter, compared to the consensus estimate of $240.75 million. During the same quarter in the previous year, the company posted $0.40 EPS. The business’s revenue was down 16.5% on a year-over-year basis. On average, research analysts forecast that Ares Management LP Unit will post 1.47 earnings per share for the current year.

In other Ares Management LP Unit news, CFO Michael R. Mcferran acquired 7,500 shares of the company’s stock in a transaction on Monday, August 13th. The shares were purchased at an average price of $21.21 per share, for a total transaction of $159,075.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of large investors have recently added to or reduced their stakes in ARES. BlackRock Inc. bought a new stake in Ares Management LP Unit in the first quarter valued at approximately $2,422,000. UBS Group AG raised its stake in Ares Management LP Unit by 16.2% in the first quarter. UBS Group AG now owns 205,410 shares of the asset manager’s stock valued at $4,396,000 after buying an additional 28,676 shares during the period. Royal Bank of Canada raised its stake in Ares Management LP Unit by 225.6% in the first quarter. Royal Bank of Canada now owns 38,451 shares of the asset manager’s stock valued at $823,000 after buying an additional 26,642 shares during the period. Boston Advisors LLC bought a new stake in Ares Management LP Unit in the second quarter valued at approximately $1,696,000. Finally, Cornerstone Wealth Management LLC bought a new stake in Ares Management LP Unit in the second quarter valued at approximately $2,000,000. Hedge funds and other institutional investors own 40.18% of the company’s stock.

About Ares Management LP Unit

Ares Management, L.P. 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.

Read More: Understanding Price to Earnings Ratio (PE)

Analyst Recommendations for Ares Management LP Unit (NYSE:ARES)

Receive News & Ratings for Ares Management LP Unit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management LP Unit and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply