Ally Financial Inc. (ALLY) Raised to Strong-Buy at BidaskClub
BidaskClub upgraded shares of Ally Financial Inc. (NYSE:ALLY) from a buy rating to a strong-buy rating in a research report report published on Thursday morning.
Other equities research analysts have also issued reports about the stock. BMO Capital Markets reiterated a buy rating and issued a $26.00 price objective on shares of Ally Financial in a research report on Friday, August 25th. Piper Jaffray Companies reaffirmed a buy rating on shares of Ally Financial in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Ally Financial from a hold rating to a buy rating and set a $26.00 price target on the stock in a research report on Tuesday, September 26th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $24.00 price target on shares of Ally Financial in a research report on Tuesday, July 4th. Finally, TheStreet raised shares of Ally Financial from a c rating to a b- rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Ally Financial has a consensus rating of Buy and a consensus price target of $25.62.
Ally Financial (ALLY) opened at 24.26 on Thursday. Ally Financial has a one year low of $16.68 and a one year high of $24.32. The firm has a 50-day moving average price of $22.50 and a 200-day moving average price of $20.84. The stock has a market cap of $11.64 billion, a price-to-earnings ratio of 12.36 and a beta of 1.43.
Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Ally Financial had a return on equity of 7.55% and a net margin of 13.83%. During the same period in the previous year, the firm posted $0.54 earnings per share. On average, equities analysts predict that Ally Financial will post $2.27 earnings per share for the current year.
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Ally Financial announced that its Board of Directors has approved a stock repurchase plan on Wednesday, June 28th that authorizes the company to buyback $760.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 7.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank raised its position in shares of Ally Financial by 23.0% in the 2nd quarter. Toronto Dominion Bank now owns 5,714 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 1,070 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Ally Financial by 668.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 6,950 shares of the financial services provider’s stock valued at $141,000 after buying an additional 6,045 shares during the last quarter. Capstone Asset Management Co. purchased a new position in shares of Ally Financial during the 2nd quarter valued at approximately $208,000. Achmea Investment Management B.V. purchased a new position in shares of Ally Financial during the 1st quarter valued at approximately $210,000. Finally, Twin Tree Management LP purchased a new position in shares of Ally Financial during the 2nd quarter valued at approximately $215,000.
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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