Ares Management Corporation (NYSE:ARES) is a stock to watch today. At current price of $39.84, the shares have already lost -1.26 points (-3.07% lower) from its previous close of $41.1. The stock sets an active trading volume day with a reported 384193 contracts so far this session. ARES shares had a relatively better volume day versus average trading capacity of 465.39 thousand shares, but with a 0.19 billion float and a 5.55% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ARES stock indicates that the average analyst price target is $40.08 per share. This means the stock has a potential increase of 0.6% from where the ARES share price has been trading recently.
During the recent trading session for Ares Management Corporation (NYSE:ARES), the company witnessed their stock rise $1.84 over a week and surge $3.46 from the price 20 days ago. When compared to their established 52-week high of $41.88, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/13/20. The recent low of $22.17 stood for a -4.87% since 08/03/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.64 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Ares Management Corporation, the two-week RSI stands at 63.6. This figure suggests that ARES stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ARES readings is similarly very revealing as it has a stochastic reading of 88.21% at this stage. This figure means that ARES share price today is being oversold.
Technical chart claims that Ares Management Corporation (ARES) would settle between $41.82/share to $42.54/share level. However, if the stock price goes below the $40.44 mark, then the market for Ares Management Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $39.79 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.17. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Oppenheimer lowered their recommendation on shares of ARES from Outperform to Perform in their opinion released on January 14. BMO Capital Markets, analysts launched coverage of Ares Management Corporation (NYSE:ARES) stock with a Market Perform recommendation, according to their flash note issued to investors on October 08. Analysts at Barclays, made their first call for the equity with a Overweight recommendation, according to a research note that dated back to August 05.
ARES equity has an average rating of 1.92, with the figure leaning towards a bullish end. 13 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 10 analysts rated Ares Management Corporation (NYSE:ARES) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ARES stock price is currently trading at 21.42X forward 12-month Consensus EPS estimates, and its P/E ratio is 47.8 while for the average stock in the same group, the multiple is 18.8. Ares Management Corporation current P/B ratio of 21 means it is trading at a premium against its industry’s 1.7.
Ares Management Corporation (ARES)’s current-quarter revenues are projected to climb by nearly 23.6% to hit $363800, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -10% from $1.77 billion to a noteworthy $1.59 billion. At the other end of the current quarter income statement, Ares Management Corporation is expected to see its adjusted earnings surge by roughly 28.6% to hit $0.45 per share. For the fiscal year, ARES’s earnings are projected to climb by roughly 15% to hit $1.92 per share.