Barclays PLC Reaffirms Overweight Rating for Ally Financial Inc. (ALLY)
Ally Financial Inc. (NYSE:ALLY)‘s stock had its “overweight” rating reiterated by research analysts at Barclays PLC in a research note issued to investors on Wednesday. They presently have a $23.00 price target on the stock. Barclays PLC’s price target suggests a potential upside of 17.65% from the company’s current price.
Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. reissued a “buy” rating on shares of Ally Financial in a research report on Thursday, June 30th. BTIG Research reissued a “buy” rating on shares of Ally Financial in a research report on Thursday, June 30th. Deutsche Bank AG reissued a “buy” rating on shares of Ally Financial in a research report on Sunday, June 26th. Jefferies Group reissued a “buy” rating and issued a $28.00 price target on shares of Ally Financial in a research report on Tuesday, September 13th. Finally, Zacks Investment Research raised shares of Ally Financial from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Tuesday, September 20th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $25.13.
Shares of Ally Financial (NYSE:ALLY) traded down 0.51% on Wednesday, hitting $19.55. 3,607,602 shares of the stock traded hands. Ally Financial has a 52 week low of $14.55 and a 52 week high of $21.03. The stock’s market cap is $9.38 billion. The stock has a 50 day moving average price of $19.56 and a 200-day moving average price of $18.03.
Ally Financial (NYSE:ALLY) last released its earnings results on Tuesday, July 26th. The company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 research analysts forecast that Ally Financial will post $2.25 EPS for the current year.
Several large investors have recently made changes to their positions in the stock. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Ally Financial by 176.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 6,999 shares of the company’s stock worth $119,000 after buying an additional 4,467 shares during the period. First Mercantile Trust Co. boosted 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 during the period. Barnett & Company Inc. acquired a new stake in shares of Ally Financial during the first quarter worth about $178,000. Seven Eight Capital LLC boosted its stake in shares of Ally Financial by 180.5% in the first quarter. Seven Eight Capital LLC now owns 10,412 shares of the company’s stock worth $195,000 after buying an additional 6,700 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ally Financial during the second quarter worth about $179,000. 99.83% of the stock is owned by 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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