Ally Financial Inc. (ALLY) Lifted to Hold at Zacks Investment Research
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 research analysts also recently weighed in on the stock. Credit Suisse Group AG restated an outperform rating on shares of Ally Financial in a research note on Tuesday, July 5th. Barclays PLC restated an overweight rating and issued a $23.00 price target on shares of Ally Financial in a research note on Sunday, July 10th. Deutsche Bank AG reiterated a buy rating and set a $23.00 target price on shares of Ally Financial in a research report on Thursday, August 18th. Jefferies Group reiterated a buy rating and set a $28.00 target price on shares of Ally Financial in a research report on Tuesday, September 13th. Finally, BTIG Research reiterated a buy rating on shares of Ally Financial in a research report on Thursday, June 30th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $25.13.
Shares of Ally Financial (NYSE:ALLY) opened at 19.76 on Wednesday. The company’s market cap is $9.48 billion. Ally Financial has a 12 month low of $14.55 and a 12 month high of $21.03. The stock’s 50 day moving average is $19.54 and its 200 day moving average is $18.01.
Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.54 earnings per share 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 prior year, the company posted $0.46 EPS. On average, analysts anticipate that Ally Financial will post $2.25 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in ALLY. Vanguard Group Inc. raised its stake in shares of Ally Financial by 6.2% in the second quarter. Vanguard Group Inc. now owns 32,798,914 shares of the company’s stock worth $559,877,000 after buying an additional 1,924,613 shares during the period. Harris Associates L P raised its stake in shares of Ally Financial by 0.4% in the second quarter. Harris Associates L P now owns 23,512,030 shares of the company’s stock worth $401,350,000 after buying an additional 102,280 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Ally Financial by 1.5% in the second quarter. JPMorgan Chase & Co. now owns 18,304,851 shares of the company’s stock worth $312,463,000 after buying an additional 273,669 shares during the period. BlackRock Advisors LLC raised its stake in shares of Ally Financial by 61.4% in the second quarter. BlackRock Advisors LLC now owns 12,241,161 shares of the company’s stock worth $208,957,000 after buying an additional 4,658,743 shares during the period. Finally, First Pacific Advisors LLC raised its stake in shares of Ally Financial by 305.8% in the second quarter. First Pacific Advisors LLC now owns 10,769,760 shares of the company’s stock worth $183,840,000 after buying an additional 8,115,699 shares during the period. Institutional investors and hedge funds own 99.83% of the company’s stock.
About Ally Financial
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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