Ares Management saw its IBD SmartSelect Composite Rating jump to 96 Wednesday, up from 94 the day before.
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The upgrade means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. The best stocks tend to have a 95 or better grade as they begin to launch a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Ares Management is now out of buy range after clearing the 176.38 buy point in a cup with handle.
One weak spot is the company's 59 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
In Q2, the company posted 7% earnings-per-share growth. Top line growth rose 71%, up from 54% in the prior quarter. That marks two consecutive reports with increasing revenue gains.
Ares Management earns the No. 3 rank among its peers in the Finance-Investment Management industry group. Carlyle Group is the No. 1-ranked stock within the group.
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