Ally Financial’s (ALLY) Overweight Rating Reiterated at Barclays PLC
Ally Financial Inc. (NYSE:ALLY)‘s stock had its “overweight” rating reaffirmed by stock analysts at Barclays PLC in a research note issued on Wednesday. They presently have a $23.00 price target on the stock. Barclays PLC’s price objective points to a potential upside of 17.65% from the stock’s current price.
Other analysts also recently issued reports about the company. Deutsche Bank AG reiterated a “buy” rating on shares of Ally Financial in a research report on Sunday, June 26th. Zacks Investment Research upgraded Ally Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. JPMorgan Chase & Co. restated a “buy” rating on shares of Ally Financial in a research report on Thursday, June 30th. Jefferies Group restated a “buy” rating and issued a $28.00 price objective on shares of Ally Financial in a research report on Tuesday, September 13th. Finally, BTIG Research restated a “buy” rating on shares of Ally Financial in a research report on Thursday, June 30th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $25.13.
Ally Financial (NYSE:ALLY) traded down 0.51% on Wednesday, reaching $19.55. The company had a trading volume of 3,607,602 shares. The company’s 50-day moving average is $19.56 and its 200-day moving average is $18.03. The company’s market capitalization is $9.38 billion. Ally Financial has a 52-week low of $14.55 and a 52-week high of $21.03.
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Ally Financial (NYSE:ALLY) last posted its earnings results on Tuesday, July 26th. The company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate 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 business earned $0.46 EPS. Equities analysts anticipate that Ally Financial will post $2.25 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Mizuho Asset Management Co. Ltd. raised its stake in Ally Financial by 176.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 6,999 shares of the company’s stock worth $119,000 after buying an additional 4,467 shares during the period. First Mercantile Trust Co. raised its stake in Ally Financial by 18.5% in the third quarter. First Mercantile Trust Co. now owns 7,700 shares of the company’s stock worth $150,000 after buying an additional 1,200 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in Ally Financial during the second quarter worth about $168,000. Barnett & Company Inc. bought a new stake in Ally Financial during the first quarter worth about $178,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Ally Financial during the second quarter worth about $179,000. Institutional investors and hedge funds own 99.83% of the company’s stock.
About Ally Financial
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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