Ally Financial Inc. (ALLY) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Ally Financial Inc. (NYSE:ALLY) have earned a consensus recommendation of “Buy” from the eighteen research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $25.09.
Several equities research analysts recently issued reports on the company. BidaskClub upgraded Ally Financial from a “hold” rating to a “buy” rating in a report on Monday. Stephens downgraded Ally Financial from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $23.00 to $20.00 in a report on Monday. Janney Montgomery Scott initiated coverage on Ally Financial in a report on Monday, March 27th. They issued a “neutral” rating and a $23.00 price objective on the stock. Piper Jaffray Companies initiated coverage on Ally Financial in a report on Friday, June 9th. They set an “overweight” rating and a $25.00 price target on the stock. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $24.00 price target on shares of Ally Financial in a report on Tuesday, July 4th.
A number of large investors have recently modified their holdings of ALLY. BlackRock Inc. boosted its stake in Ally Financial by 1,072.5% in the first quarter. BlackRock Inc. now owns 23,195,719 shares of the financial services provider’s stock worth $471,567,000 after buying an additional 21,217,360 shares during the period. Iridian Asset Management LLC CT purchased a new stake in Ally Financial during the first quarter worth about $143,806,000. Canada Pension Plan Investment Board boosted its stake in Ally Financial by 1,058.4% in the first quarter. Canada Pension Plan Investment Board now owns 6,767,985 shares of the financial services provider’s stock worth $137,593,000 after buying an additional 6,183,710 shares during the period. Harris Associates L P boosted its stake in Ally Financial by 12.0% in the first quarter. Harris Associates L P now owns 40,594,446 shares of the financial services provider’s stock worth $825,285,000 after buying an additional 4,345,639 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Ally Financial by 10.2% in the first quarter. Vanguard Group Inc. now owns 38,532,959 shares of the financial services provider’s stock worth $783,374,000 after buying an additional 3,551,308 shares during the period. Hedge funds and other institutional investors own 98.81% of the company’s stock.
Ally Financial (NYSE ALLY) traded down 0.596% during mid-day trading on Tuesday, reaching $20.835. The company’s stock had a trading volume of 548,506 shares. Ally Financial has a 12-month low of $16.68 and a 12-month high of $23.62. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 9.795 and a beta of 1.38. The firm’s 50 day moving average price is $19.50 and its 200 day moving average price is $20.35.
Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Ally Financial had a net margin of 15.68% and a return on equity of 7.63%. During the same quarter in the prior year, the firm posted $0.52 EPS. On average, equities analysts predict that Ally Financial will post $2.25 earnings per share for the current year.
Ally Financial declared that its board has authorized a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $760.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
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Ally Financial Company Profile
Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.
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