Oppenheimer Sticks to Its Buy Rating for Ares Management (ARES)


Oppenheimer analyst Allison M. Taylor maintained a Buy rating on Ares Management (ARES) today and set a price target of $28. The company’s shares opened today at $23.47.

Taylor said:

“ARES reported 4Q18 after-tax realized income (RI) of $0.41 per common share, topping our estimate of $0.33, driven by strong realizations for the quarter. Just- reported results cap off a year of a perfect, interconnected trifecta—higher FPAUM on higher deployments leading to significant FRE growth resulting in an increase to the dividend run rate. FPAUM increased 13% year/year to $81.9B driven by $22.4B of deployments for 2018, up from $16.4B a year earlier. Drawdown funds deployed of $17.2B included $11.4B from credit funds for the year, up ~$3B from 2017. In all, this helped fuel an 18% increase in 4Q18 FRE Y/Y (16% for all of 2018) and a quarterly dividend increase from $0.28 to $0.32 a share.”

According to TipRanks.com, Taylor is a 2-star analyst with an average return of 1.1% and a 63.2% success rate. Taylor covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Oaktree Capital Group Llc, and Solar Capital Ltd.

Currently, the analyst consensus on Ares Management is a Moderate Buy with an average price target of $25.50.

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Ares Management’s market cap is currently $2.37B and has a P/E ratio of 42.42. The company has a Price to Book ratio of 8.04.

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Ares Management Corp. is engaged in providing investment management and consultancy services. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group.

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