Ally Financial (ALLY) Stock Rating Reaffirmed by Jefferies Group
Jefferies Group restated their buy rating on shares of Ally Financial (NYSE:ALLY) in a research note published on Thursday morning. The brokerage currently has a $35.00 price objective on the financial services provider’s stock. Jefferies Group also issued estimates for Ally Financial’s Q4 2017 earnings at $0.60 EPS, FY2017 earnings at $2.30 EPS, Q1 2018 earnings at $0.69 EPS, Q2 2018 earnings at $0.75 EPS, Q3 2018 earnings at $0.81 EPS, Q4 2018 earnings at $0.69 EPS and FY2018 earnings at $2.95 EPS.
Other analysts have also recently issued reports about the company. Citigroup initiated coverage on Ally Financial in a research report on Monday, October 16th. They issued a buy rating and a $30.00 target price for the company. BMO Capital Markets reissued a buy rating and issued a $26.00 target price on shares of Ally Financial in a research report on Friday, October 6th. Credit Suisse Group reissued a buy rating and issued a $28.00 target price on shares of Ally Financial in a research report on Wednesday, October 4th. Piper Jaffray Companies reissued a buy rating on shares of Ally Financial in a research report on Wednesday, October 4th. Finally, Zacks Investment Research raised Ally Financial from a hold rating to a buy rating and set a $26.00 target price for the company in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $30.88.
Ally Financial (NYSE ALLY) opened at $30.53 on Thursday. The stock has a market capitalization of $13,499.94, a PE ratio of 14.13, a PEG ratio of 0.90 and a beta of 1.46. Ally Financial has a 1 year low of $18.11 and a 1 year high of $30.65. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 3.32.
Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.08. The business 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 period in the prior year, the firm posted $0.56 EPS. equities research analysts predict that Ally Financial will post 2.28 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of ALLY. Hotchkis & Wiley Capital Management LLC raised its stake in Ally Financial by 262.5% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,275,900 shares of the financial services provider’s stock valued at $110,266,000 after acquiring an additional 3,820,400 shares during the last quarter. Thrivent Financial For Lutherans purchased a new stake in Ally Financial during the 2nd quarter valued at approximately $54,346,000. FMR LLC raised its stake in Ally Financial by 72.4% during the 2nd quarter. FMR LLC now owns 5,860,209 shares of the financial services provider’s stock valued at $122,479,000 after acquiring an additional 2,461,343 shares during the last quarter. State Treasurer State of Michigan raised its stake in Ally Financial by 163.0% during the 3rd quarter. State Treasurer State of Michigan now owns 3,762,933 shares of the financial services provider’s stock valued at $91,289,000 after acquiring an additional 2,331,967 shares during the last quarter. Finally, King Street Capital Management L.P. raised its stake in Ally Financial by 40.5% during the 3rd quarter. King Street Capital Management L.P. now owns 6,933,000 shares of the financial services provider’s stock valued at $168,195,000 after acquiring an additional 2,000,000 shares during the last quarter.
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About Ally Financial
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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