In a report released today, James Fotheringham from BMO Capital maintained a Hold rating on Ares Management (ARES), with a price target of $63.00. The company’s shares closed last Friday at $54.02.
According to TipRanks.com, Fotheringham is a 5-star analyst with an average return of 20.6% and a 76.7% success rate. Fotheringham covers the Financial sector, focusing on stocks such as International Money Express, Discover Financial Services, and Victory Capital Holdings.
Currently, the analyst consensus on Ares Management is a Moderate Buy with an average price target of $61.86, which is a 14.6% upside from current levels. In a report released yesterday, Oppenheimer also assigned a Hold rating to the stock.
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The company has a one-year high of $59.17 and a one-year low of $31.37. Currently, Ares Management has an average volume of 898.2K.
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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. The Credit Group segment offers credit strategies across the liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed investments and U.S. and European direct lending. The Credit Group provides solutions for traditional fixed income investors seeking to access the syndicated bank loan and high yield bond markets and capitalize on opportunities across traded corporate credit. It additionally provides investors access to directly originated fixed and floating rate credit assets and the ability to capitalize on illiquidity premiums across the credit spectrum. The Private Equity Group segment manages shared control investments in corporate private equity funds. The Real Estate Group segment provides debt, mortgage loans, and equity capital to borrowers, property owners, and real estate developers. The company was by founded by Michael J. Arougheti, David B. Kaplan, John H. Kissick, Antony P. Ressler, and Bennett Rosenthal on November 15, 2013 and is headquartered in Los Angeles, CA.
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