Barclays PLC Reaffirms Overweight Rating for Ally Financial Inc. (ALLY)
Ally Financial Inc. (NYSE:ALLY)‘s stock had its “overweight” rating reiterated by investment analysts at Barclays PLC in a research report issued to clients and investors on Wednesday. They currently have a $23.00 target price on the stock. Barclays PLC’s price objective indicates a potential upside of 17.65% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank AG reiterated a “buy” rating on shares of Ally Financial in a research report on Sunday, June 26th. Zacks Investment Research cut shares of Ally Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Credit Suisse Group AG reiterated an “outperform” rating on shares of Ally Financial in a research report on Tuesday, July 5th. BTIG Research reiterated a “buy” rating on shares of Ally Financial in a research report on Thursday, June 30th. Finally, Jefferies Group reiterated a “buy” rating and set a $28.00 price objective on shares of Ally Financial in a research report on Thursday, August 25th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $25.13.
Shares of Ally Financial (NYSE:ALLY) traded down 0.51% during midday trading on Wednesday, hitting $19.55. 3,607,602 shares of the stock were exchanged. Ally Financial has a 1-year low of $14.55 and a 1-year high of $21.03. The firm has a 50-day moving average of $19.56 and a 200-day moving average of $18.03. The company’s market capitalization is $9.38 billion.
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Ally Financial (NYSE:ALLY) last released its earnings results on Tuesday, July 26th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Ally Financial had a net margin of 17.61% and a return on equity of 17.19%. During the same quarter in the previous year, the business posted $0.46 EPS. On average, equities analysts expect that Ally Financial will post $2.25 EPS for the current year.
Several hedge funds have recently modified their holdings of ALLY. British Columbia Investment Management Corp raised its stake in shares of Ally Financial by 22.2% in the third quarter. British Columbia Investment Management Corp now owns 231,982 shares of the company’s stock worth $4,517,000 after buying an additional 42,207 shares in the last quarter. First Mercantile Trust Co. raised its stake in shares of 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 in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Ally Financial by 17.5% in the third quarter. BNP Paribas Arbitrage SA now owns 80,473 shares of the company’s stock worth $1,567,000 after buying an additional 11,969 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Ally Financial during the second quarter worth about $508,000. Finally, Royal Bank of Canada raised its stake in shares of Ally Financial by 38.0% in the second quarter. Royal Bank of Canada now owns 1,030,275 shares of the company’s stock worth $17,586,000 after buying an additional 283,573 shares in the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.
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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