Ally Financial Inc. (NYSE:ALLY) was upgraded by equities research analysts at TheStreet from a “c” rating to a “b-” rating in a research note issued on Wednesday, July 19th.
Other analysts also recently issued research reports about the stock. BMO Capital Markets reissued a “buy” rating and set a $26.00 target price on shares of Ally Financial in a research report on Tuesday, April 25th. BTIG Research reissued a “buy” rating and set a $30.00 target price on shares of Ally Financial in a research report on Saturday, April 22nd. Keefe, Bruyette & Woods set a $24.00 price objective on shares of Ally Financial and gave the company a “buy” rating in a report on Thursday, April 6th. BidaskClub raised shares of Ally Financial from a “hold” rating to a “buy” rating in a report on Monday, July 17th. Finally, Janney Montgomery Scott started coverage on shares of Ally Financial in a report on Monday, March 27th. They set a “neutral” rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $25.07.
Shares of Ally Financial (NYSE ALLY) traded down 2.307% during midday trading on Wednesday, hitting $22.235. The company’s stock had a trading volume of 1,960,230 shares. The firm has a market cap of $10.67 billion, a P/E ratio of 11.333 and a beta of 1.42. Ally Financial has a 52-week low of $16.68 and a 52-week high of $23.62. The stock’s 50 day moving average is $21.61 and its 200-day moving average is $20.77.
Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.42 billion. Ally Financial had a net margin of 13.83% and a return on equity of 7.55%. During the same quarter in the previous year, the business posted $0.54 EPS. Equities analysts predict that Ally Financial will post $2.27 EPS for the current fiscal year.
Ally Financial declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $760.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Several institutional investors have recently made changes to their positions in the stock. Korea Investment CORP acquired a new position in shares of Ally Financial during the first quarter worth approximately $1,038,000. Candriam Luxembourg S.C.A. raised its position in Ally Financial by 22.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 36,193 shares of the financial services provider’s stock worth $736,000 after buying an additional 6,552 shares during the period. Northern Capital Management LLC purchased a new position in Ally Financial during the first quarter worth $1,760,000. State of Alaska Department of Revenue purchased a new position in Ally Financial during the first quarter worth $426,000. Finally, Sanders Morris Harris Inc. purchased a new position in Ally Financial during the first quarter worth $1,856,000.
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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