Ally Financial Inc. (ALLY) Upgraded by Zacks Investment Research to Hold
Ally Financial Inc. (NYSE:ALLY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Ally Financial’s estimates have been stable lately ahead of its third-quarter 2016 earnings release. The company has positive record of earnings surprises in recent quarters. We believe its acquisition of TradeKing in Jun 2016 is likely to assist in improving product offerings and digitization of financial operations which will further help diversifying its revenue base and support bottom line growth. Also growth in net financing revenue remains a positive for Ally Financial. However, high debt levels may restrain its ability to procure additional funds for working capital, acquisitions or other purposes. This may also negatively impact the company’s access to liquidity and increase borrowing costs in the unsecured market. Also, stringent regulations is likely to weigh on the company’s near-term profitability.”
A number of other equities analysts have also recently issued reports on the stock. 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. Deutsche Bank AG restated a “buy” rating and issued a $23.00 price objective on shares of Ally Financial in a research report on Thursday, August 18th. Barclays PLC restated an “overweight” rating and issued a $23.00 price objective on shares of Ally Financial in a research report on Sunday, July 10th. Credit Suisse Group AG restated an “outperform” rating on shares of Ally Financial in a research report on Tuesday, July 5th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Ally Financial in a research note on Thursday, June 30th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $25.13.
Ally Financial (NYSE:ALLY) traded up 0.66% during midday trading on Wednesday, hitting $19.88. 2,479,074 shares of the company were exchanged. The firm’s market capitalization is $9.54 billion. The stock has a 50 day moving average of $19.51 and a 200 day moving average of $17.98. Ally Financial has a 1-year low of $14.55 and a 1-year high of $21.21.
Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the business earned $0.46 EPS. On average, equities analysts predict that Ally Financial will post $2.25 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Aperio Group LLC boosted its position in shares of Ally Financial by 86.7% in the first quarter. Aperio Group LLC now owns 121,325 shares of the company’s stock valued at $2,271,000 after buying an additional 56,334 shares during the period. Nisa Investment Advisors L.L.C. bought a new position in Ally Financial during the first quarter valued at $515,000. Pacad Investment Ltd. bought a new position in Ally Financial during the first quarter valued at $314,000. Ngam Advisors L.P. boosted its position in Ally Financial by 28.7% in the first quarter. Ngam Advisors L.P. now owns 38,152 shares of the company’s stock valued at $714,000 after buying an additional 8,501 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in Ally Financial by 7.9% in the first quarter. Prudential Financial Inc. now owns 637,550 shares of the company’s stock valued at $11,935,000 after buying an additional 46,500 shares during the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.
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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