Ares Management (NYSE:ARES) was downgraded by equities research analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday, February 16th, Marketbeat.com reports. The analysts noted that the move was a valuation call.
A number of other equities analysts have also recently weighed in on ARES. Zacks Investment Research raised shares of Ares Management from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. BidaskClub raised shares of Ares Management from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Royal Bank of Canada reissued a “buy” rating on shares of Ares Management in a research report on Friday, November 3rd. TheStreet cut shares of Ares Management from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $33.00 price objective (up from $25.00) on shares of Ares Management in a research report on Wednesday, January 10th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $25.50.
Shares of Ares Management (NYSE ARES) traded up $0.05 during midday trading on Friday, reaching $21.90. The company had a trading volume of 936,059 shares, compared to its average volume of 511,920. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.65. The firm has a market cap of $4,650.00, a P/E ratio of 34.76, a P/E/G ratio of 1.32 and a beta of 1.22. Ares Management has a 52-week low of $17.25 and a 52-week high of $25.95.
Ares Management (NYSE:ARES) last posted its quarterly earnings data on Thursday, February 15th. The asset manager reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. The company had revenue of $356.30 million during the quarter, compared to analysts’ expectations of $376.37 million. Ares Management had a net margin of 5.38% and a return on equity of 40.87%. The firm’s revenue was down .5% on a year-over-year basis. equities analysts predict that Ares Management will post 1.67 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of ARES. Delek Group Ltd. bought a new position in shares of Ares Management during the fourth quarter worth about $8,852,000. PM CAPITAL Ltd bought a new position in shares of Ares Management during the third quarter worth about $7,785,000. Wells Fargo & Company MN lifted its position in shares of Ares Management by 43.7% during the fourth quarter. Wells Fargo & Company MN now owns 900,886 shares of the asset manager’s stock worth $18,018,000 after purchasing an additional 273,890 shares during the last quarter. EJF Capital LLC lifted its position in shares of Ares Management by 17.2% during the third quarter. EJF Capital LLC now owns 1,086,804 shares of the asset manager’s stock worth $20,269,000 after purchasing an additional 159,544 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Ares Management by 104.8% during the fourth quarter. Deutsche Bank AG now owns 258,035 shares of the asset manager’s stock worth $5,160,000 after purchasing an additional 132,035 shares during the last quarter. 17.09% of the stock is currently owned by institutional investors and hedge funds.
Ares Management Company Profile
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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