Ally Financial Inc. (ALLY) Lifted to “Hold” at Zacks Investment Research
Ally Financial Inc. (NYSE:ALLY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Ally Financial’s shares have outperformed the industry over the past six months. The performance was supported by the company’s impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. The company’s third-quarter 2017 results were aided by a rise in revenues, partially offset by higher expenses. The gradual improvement in net interest margin (NIM) with the rise in rates should support top-line growth. Also, it’s initiatives to diversify revenue base should support profitability in the quarters ahead. However, persistently increasing expenses are likely to hurt the company’s bottom-line growth in the near term. Moreover, the company’s dependence on high debt levels to finance operations remains a matter of concern.”
A number of other research firms have also recently weighed in on ALLY. Barclays PLC lifted their target price on shares of Ally Financial from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday. BMO Capital Markets lifted their target price on shares of Ally Financial from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley lifted their target price on shares of Ally Financial from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday. BTIG Research restated a “buy” rating and set a $30.00 target price on shares of Ally Financial in a research note on Thursday. Finally, Credit Suisse Group lifted their target price on shares of Ally Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Ally Financial has an average rating of “Buy” and a consensus price target of $26.71.
Ally Financial (ALLY) traded up 1.00% on Friday, hitting $26.28. 4,397,942 shares of the stock traded hands. Ally Financial has a 52-week low of $16.68 and a 52-week high of $26.35. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 13.39 and a beta of 1.44. The company’s 50 day moving average price is $23.95 and its 200-day moving average price is $21.57.
Ally Financial (NYSE:ALLY) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.08. Ally Financial had a net margin of 14.75% and a return on equity of 7.74%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the company earned $0.56 EPS. On average, analysts forecast that Ally Financial will post $2.31 earnings per share for the current fiscal year.
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Institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank increased its holdings in shares of Ally Financial by 23.0% in the 2nd quarter. Toronto Dominion Bank now owns 5,714 shares of the financial services provider’s stock worth $119,000 after buying an additional 1,070 shares during the last quarter. Capstone Asset Management Co. bought a new stake in shares of Ally Financial in the 2nd quarter worth about $208,000. Crossmark Global Holdings Inc. bought a new stake in shares of Ally Financial in the 3rd quarter worth about $241,000. Twin Tree Management LP bought a new stake in shares of Ally Financial in the 2nd quarter worth about $215,000. Finally, Achmea Investment Management B.V. bought a new stake in shares of Ally Financial in the 1st quarter worth about $210,000.
About Ally Financial
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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