Ares Management LP Unit (ARES) Receives $26.14 Consensus Target Price from Analysts

Ares Management LP Unit (NYSE:ARES) has been given an average rating of “Buy” by the thirteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $26.14.

Several equities research analysts have recently weighed in on ARES shares. Wells Fargo & Co raised Ares Management LP Unit from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 21st. Bank of America increased their price objective on Ares Management LP Unit from $26.00 to $27.00 and gave the company a “buy” rating in a report on Monday, September 17th. ValuEngine raised Ares Management LP Unit from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. Morgan Stanley increased their price objective on Ares Management LP Unit from $24.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday, October 9th. Finally, Zacks Investment Research downgraded Ares Management LP Unit from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 23rd.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its holdings in shares of Ares Management LP Unit by 46.9% during the second quarter. Renaissance Technologies LLC now owns 92,112 shares of the asset manager’s stock worth $1,907,000 after purchasing an additional 29,405 shares during the period. Raymond James & Associates lifted its holdings in Ares Management LP Unit by 81.7% in the second quarter. Raymond James & Associates now owns 38,801 shares of the asset manager’s stock valued at $803,000 after acquiring an additional 17,444 shares during the period. Algebris UK Ltd acquired a new stake in Ares Management LP Unit in the second quarter valued at $3,990,000. Bank of America Corp DE lifted its holdings in Ares Management LP Unit by 115.4% in the second quarter. Bank of America Corp DE now owns 110,367 shares of the asset manager’s stock valued at $2,285,000 after acquiring an additional 59,119 shares during the period. Finally, Stelac Advisory Services LLC acquired a new stake in Ares Management LP Unit in the third quarter valued at $126,000. 55.25% of the stock is owned by hedge funds and other institutional investors.

Shares of ARES stock traded down $1.06 during trading hours on Thursday, hitting $21.99. The stock had a trading volume of 38,887 shares, compared to its average volume of 606,159. The company has a market capitalization of $2.28 billion, a P/E ratio of 11.45, a PEG ratio of 1.55 and a beta of 1.39. Ares Management LP Unit has a twelve month low of $18.00 and a twelve month high of $25.95. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41.

Ares Management LP Unit (NYSE:ARES) last posted its quarterly earnings data on Thursday, November 1st. The asset manager reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.08). The firm had revenue of $240.78 million during the quarter, compared to analyst estimates of $240.75 million. Ares Management LP Unit had a net margin of 7.93% and a return on equity of 29.05%. Ares Management LP Unit’s revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 earnings per share. Research analysts predict that Ares Management LP Unit will post 1.43 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 17th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Friday, December 14th. Ares Management LP Unit’s dividend payout ratio is presently 58.03%.

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.

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

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