BMO Capital Markets restated their buy rating on shares of Ally Financial Inc. (NYSE:ALLY) in a research note published on Friday morning. The firm currently has a $26.00 target price on the financial services provider’s stock.
Other analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Ally Financial from a c rating to a b- rating in a report on Wednesday, July 19th. Jefferies Group LLC restated a buy rating and set a $28.00 target price on shares of Ally Financial in a report on Wednesday, August 23rd. BidaskClub upgraded shares of Ally Financial from a hold rating to a buy rating in a report on Wednesday, August 2nd. Piper Jaffray Companies restated a buy rating on shares of Ally Financial in a report on Friday, July 28th. Finally, Keefe, Bruyette & Woods restated a buy rating and set a $24.00 target price on shares of Ally Financial in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Ally Financial has an average rating of Buy and a consensus price target of $25.77.
Ally Financial (NYSE ALLY) opened at 24.36 on Friday. The firm has a market cap of $11.69 billion, a P/E ratio of 12.42 and a beta of 1.43. Ally Financial has a 12-month low of $16.68 and a 12-month high of $24.61. The firm’s 50-day moving average is $23.03 and its 200 day moving average is $21.09.
Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Ally Financial had a net margin of 13.83% and a return on equity of 7.55%. During the same quarter in the previous year, the business posted $0.54 earnings per share. Equities analysts forecast that Ally Financial will post $2.27 earnings per share for the current year.
Ally Financial declared that its board has initiated a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $760.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Several institutional investors and hedge funds have recently bought and sold shares of ALLY. 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 worth $119,000 after purchasing an additional 1,070 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Ally Financial by 668.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 6,950 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 6,045 shares during the last quarter. Capstone Asset Management Co. purchased a new position in shares of Ally Financial in the 2nd quarter worth about $208,000. Achmea Investment Management B.V. purchased a new position in shares of Ally Financial in the 1st quarter worth about $210,000. Finally, Twin Tree Management LP purchased a new position in shares of Ally Financial in the 2nd quarter worth about $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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