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J.P. Morgan Maintains Their Buy Rating on Ares Management (ARES)

J.P. Morgan analyst Ken Worthington maintained a Buy rating on Ares Management (ARESResearch Report) on July 20 and set a price target of $80.00. The company’s shares closed last Thursday at $65.55.

According to TipRanks.com, Worthington is a 2-star analyst with an average return of 0.4% and a 49.3% success rate. Worthington covers the Financial sector, focusing on stocks such as AssetMark Financial Holdings, Victory Capital Holdings, and Janus Henderson Group.

Ares Management has an analyst consensus of Strong Buy, with a price target consensus of $83.44, implying a 30.2% upside from current levels. In a report issued on July 12, Jefferies also maintained a Buy rating on the stock with a $75.00 price target.

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Based on Ares Management’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $715 million and net profit of $45.86 million. In comparison, last year the company earned revenue of $658 million and had a net profit of $58.38 million.

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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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