Ally Financial Inc. (NYSE:ALLY) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday, July 23rd.
Other research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Ally Financial in a research note on Tuesday, July 4th. BMO Capital Markets reiterated a “buy” rating and issued a $26.00 target price on shares of Ally Financial in a report on Tuesday, April 25th. BTIG Research reiterated a “buy” rating and issued a $30.00 target price on shares of Ally Financial in a report on Saturday, April 22nd. Janney Montgomery Scott started coverage on Ally Financial in a report on Monday, March 27th. They issued a “neutral” rating and a $23.00 target price on the stock. Finally, Piper Jaffray Companies started coverage on Ally Financial in a report on Friday, June 9th. They issued an “overweight” rating and a $25.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Ally Financial currently has a consensus rating of “Buy” and an average price target of $25.23.
Shares of Ally Financial (ALLY) traded down 0.54% during mid-day trading on Friday, reaching $22.03. 2,087,804 shares of the company were exchanged. The company’s 50 day moving average price is $21.92 and its 200 day moving average price is $20.90. Ally Financial has a 12 month low of $16.68 and a 12 month high of $23.62. The firm has a market capitalization of $10.57 billion, a PE ratio of 11.23 and a beta of 1.42.
Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.05. Ally Financial had a return on equity of 7.55% and a net margin of 13.83%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Equities analysts anticipate that Ally Financial will post $2.27 earnings per share for the current year.
Ally Financial announced that its board has approved a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $760.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
Large investors have recently added to or reduced their stakes in the stock. Korea Investment CORP bought a new stake in Ally Financial during the first quarter worth approximately $1,038,000. Candriam Luxembourg S.C.A. raised its stake in shares of Ally Financial by 22.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 36,193 shares of the financial services provider’s stock valued at $736,000 after buying an additional 6,552 shares in the last quarter. Northern Capital Management LLC acquired a new stake in shares of Ally Financial during the first quarter valued at about $1,760,000. State of Alaska Department of Revenue acquired a new stake in shares of Ally Financial during the first quarter valued at about $426,000. Finally, Sanders Morris Harris Inc. acquired a new stake in shares of Ally Financial during the first quarter valued at about $1,856,000.
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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