Ally Financial Inc. (ALLY) Stock Rating Upgraded by Zacks Investment Research
Ally Financial Inc. (NYSE:ALLY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Ally Financial’s estimates have been stable lately ahead of its third-quarter 2016 earnings release. The company has positive record of earnings surprises in recent quarters. We believe its acquisition of TradeKing in Jun 2016 is likely to assist in improving product offerings and digitization of financial operations which will further help diversifying its revenue base and support bottom line growth. Also growth in net financing revenue remains a positive for Ally Financial. However, high debt levels may restrain its ability to procure additional funds for working capital, acquisitions or other purposes. This may also negatively impact the company’s access to liquidity and increase borrowing costs in the unsecured market. Also, stringent regulations is likely to weigh on the company’s near-term profitability.”
A number of other research firms also recently issued reports on ALLY. Deutsche Bank AG reiterated a “buy” rating on shares of Ally Financial in a report on Sunday, June 26th. Credit Suisse Group AG reissued an “outperform” rating on shares of Ally Financial in a research report on Tuesday, July 5th. Barclays PLC reissued an “overweight” rating and issued a $23.00 target price on shares of Ally Financial in a research report on Sunday, July 10th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $27.00 target price on shares of Ally Financial in a research report on Thursday, June 9th. Finally, BTIG Research reissued a “buy” rating on shares of Ally Financial in a research report on Thursday, June 30th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $25.13.
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Ally Financial (NYSE:ALLY) traded down 0.45% on Wednesday, reaching $19.76. 1,821,869 shares of the company’s stock traded hands. The firm’s 50-day moving average is $19.54 and its 200 day moving average is $18.01. Ally Financial has a 12 month low of $14.55 and a 12 month high of $21.03. The firm’s market cap is $9.48 billion.
Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.54 earnings per share for the quarter, beating 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 last year, the firm earned $0.46 earnings per share. Equities analysts predict that Ally Financial will post $2.25 EPS for the current year.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Ally Financial by 6.2% in the second quarter. Vanguard Group Inc. now owns 32,798,914 shares of the company’s stock valued at $559,877,000 after buying an additional 1,924,613 shares during the last quarter. Harris Associates L P raised its position in Ally Financial by 0.4% in the second quarter. Harris Associates L P now owns 23,512,030 shares of the company’s stock valued at $401,350,000 after buying an additional 102,280 shares during the last quarter. JPMorgan Chase & Co. raised its position in Ally Financial by 1.5% in the second quarter. JPMorgan Chase & Co. now owns 18,304,851 shares of the company’s stock valued at $312,463,000 after buying an additional 273,669 shares during the last quarter. BlackRock Advisors LLC raised its position in Ally Financial by 61.4% in the second quarter. BlackRock Advisors LLC now owns 12,241,161 shares of the company’s stock valued at $208,957,000 after buying an additional 4,658,743 shares during the last quarter. Finally, First Pacific Advisors LLC raised its position in Ally Financial by 305.8% in the second quarter. First Pacific Advisors LLC now owns 10,769,760 shares of the company’s stock valued at $183,840,000 after buying an additional 8,115,699 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.
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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