Ally Financial Inc. (ALLY) Upgraded to “Buy” at Zacks Investment Research
Ally Financial Inc. (NYSE:ALLY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $21.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 9.49% from the stock’s current price.
According to Zacks, “Ally Financial is undertaking a strategic transformation by strengthening its balance sheet and diversify growth avenues. The company has forayed into the credit card business and re-entered mortgage operations as well as acquired TradeKing to further enhance top-line growth. Additionally, initiation of its capital deployment activities (share repurchases and quarterly dividends) depicts capital strength. However, high debt levels may restrain the company’s ability to procure additional funds for working capital, acquisitions or other purposes. Also, stringent regulations and concentration risks will likely continue to weigh on the company’s near-term profitability.”
Other analysts also recently issued reports about the company. Jefferies Group reissued a “buy” rating and issued a $28.00 price objective on shares of Ally Financial in a research note on Tuesday, September 13th. Deutsche Bank AG reissued a “buy” rating and issued a $23.00 price objective on shares of Ally Financial in a research note on Thursday, August 18th. Barclays PLC reissued an “overweight” rating and issued a $23.00 price objective on shares of Ally Financial in a research note on Sunday, July 10th. Credit Suisse Group AG reissued an “outperform” rating on shares of Ally Financial in a research note on Tuesday, July 5th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Ally Financial in a research note on Thursday, June 30th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Ally Financial currently has a consensus rating of “Buy” and a consensus target price of $25.13.
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Ally Financial (NYSE:ALLY) traded down 1.017% during mid-day trading on Tuesday, reaching $18.985. The company had a trading volume of 1,118,154 shares. The company’s 50-day moving average is $19.25 and its 200-day moving average is $17.89. The stock’s market capitalization is $9.11 billion. Ally Financial has a one year low of $14.55 and a one year high of $21.21.
Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Ally Financial had a return on equity of 17.19% and a net margin of 17.61%. During the same quarter in the prior year, the company posted $0.46 EPS. Equities research analysts anticipate that Ally Financial will post $2.26 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of ALLY. Nomura Asset Management Co. Ltd. raised its position in Ally Financial by 2.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 70,800 shares of the company’s stock worth $1,320,000 after buying an additional 1,800 shares during the last quarter. Norges Bank acquired a new stake in shares of Ally Financial during the fourth quarter worth about $81,900,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Ally Financial by 9.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 134,864 shares of the company’s stock worth $2,525,000 after buying an additional 11,677 shares during the period. OLD National Bancorp IN increased its stake in shares of Ally Financial by 4.7% in the first quarter. OLD National Bancorp IN now owns 21,792 shares of the company’s stock worth $408,000 after buying an additional 982 shares during the period. Finally, First Manhattan Co. increased its stake in shares of Ally Financial by 38.3% in the first quarter. First Manhattan Co. now owns 3,460,522 shares of the company’s stock worth $64,780,000 after buying an additional 957,797 shares during the period.
Ally Financial Company Profile
Ally Financial Inc is a financial holding company and a bank holding company. The Company’s banking subsidiary, Ally Bank, is a franchise in the Internet, telephone, mobile and mail banking market. The Company operates through three segments: Automotive Finance operations, Insurance operations and Mortgage operations.
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