Zacks Investment Research upgraded shares of Ally Financial (NYSE:ALLY) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. The firm currently has $33.00 target price on the financial services provider’s stock.
According to Zacks, “Ally Financial’s shares have significantly 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 gradual improvement in net interest margin with the rise in rates should support top-line growth. While persistently increasing expenses are expected to hurt the company's bottom-line growth, its initiatives to diversify revenue base will support profitability in the quarters ahead. Also, the company's steady capital deployment plan reflects strong balance sheet position.”
Several other equities analysts have also recently weighed in on ALLY. Barclays raised their price objective on Ally Financial from $26.00 to $36.00 and gave the company an overweight rating in a report on Tuesday. ValuEngine upgraded Ally Financial from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Keefe, Bruyette & Woods restated a buy rating and issued a $35.00 price objective on shares of Ally Financial in a report on Friday, December 22nd. Piper Jaffray Companies restated a buy rating and issued a $32.00 price objective on shares of Ally Financial in a report on Thursday, December 7th. Finally, Goldman Sachs Group began coverage on Ally Financial in a report on Monday, December 4th. They issued a buy rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $30.00.
Ally Financial (ALLY) opened at $29.72 on Tuesday. The stock has a market capitalization of $12,951.63, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.13 and a beta of 1.46. The company has a debt-to-equity ratio of 3.32, a quick ratio of 1.21 and a current ratio of 1.21. Ally Financial has a 1-year low of $18.11 and a 1-year high of $29.95.
Ally Financial (NYSE:ALLY) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.08. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Ally Financial had a return on equity of 7.72% and a net margin of 14.75%. During the same quarter in the prior year, the company earned $0.56 EPS. equities analysts forecast that Ally Financial will post 2.27 earnings per share for the current year.
A number of large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its stake in Ally Financial by 8.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 196,023 shares of the financial services provider’s stock valued at $4,756,000 after purchasing an additional 14,834 shares during the last quarter. Independent Advisor Alliance acquired a new stake in Ally Financial in the 3rd quarter valued at about $342,000. Sterling Capital Management LLC lifted its stake in Ally Financial by 14.6% in the 3rd quarter. Sterling Capital Management LLC now owns 18,000 shares of the financial services provider’s stock valued at $437,000 after purchasing an additional 2,300 shares during the last quarter. First Heartland Consultants Inc. lifted its stake in Ally Financial by 7.1% in the 3rd quarter. First Heartland Consultants Inc. now owns 53,181 shares of the financial services provider’s stock valued at $1,290,000 after purchasing an additional 3,513 shares during the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in Ally Financial in the 3rd quarter valued at about $358,000.
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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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