Ally Financial (ALLY) Earns Buy Rating from Analysts at Oppenheimer

Oppenheimer started coverage on shares of Ally Financial (NYSE:ALLY) in a research note issued to investors on Monday morning. The brokerage issued a buy rating and a $38.00 price objective on the financial services provider’s stock. Oppenheimer also issued estimates for Ally Financial’s Q4 2017 earnings at $0.60 EPS, FY2017 earnings at $2.22 EPS, Q1 2018 earnings at $0.70 EPS, Q2 2018 earnings at $0.74 EPS, Q3 2018 earnings at $0.79 EPS, Q4 2018 earnings at $0.79 EPS, FY2018 earnings at $3.02 EPS and FY2019 earnings at $3.48 EPS.

ALLY has been the subject of several other reports. Barclays increased their price target on shares of Ally Financial from $24.00 to $26.00 and gave the stock an overweight rating in a report on Thursday, October 26th. BMO Capital Markets reissued a buy rating and set a $26.00 price target on shares of Ally Financial in a report on Friday, October 6th. Credit Suisse Group reissued a buy rating and set a $28.00 price target on shares of Ally Financial in a report on Wednesday, October 4th. Zacks Investment Research raised shares of Ally Financial from a hold rating to a buy rating and set a $33.00 price target for the company in a report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reissued a buy rating and set a $35.00 price target on shares of Ally Financial in a report on Friday, December 22nd. One 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 stock. The stock currently has an average rating of Buy and a consensus price target of $30.88.

Shares of Ally Financial (NYSE:ALLY) traded up $0.44 during trading hours on Monday, hitting $30.50. 2,455,100 shares of the stock were exchanged, compared to its average volume of 3,577,375. Ally Financial has a 1-year low of $18.11 and a 1-year high of $30.65. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 3.32. The stock has a market capitalization of $13,490.00, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.16 and a beta of 1.46.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.08. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Ally Financial had a net margin of 14.75% and a return on equity of 7.72%. During the same period in the prior year, the company posted $0.56 earnings per share. equities research analysts forecast that Ally Financial will post 2.28 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Ally Financial by 7.2% in the third quarter. JPMorgan Chase & Co. now owns 18,536,031 shares of the financial services provider’s stock valued at $442,825,000 after purchasing an additional 1,251,678 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Ally Financial by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 8,683,736 shares of the financial services provider’s stock valued at $210,668,000 after purchasing an additional 114,270 shares during the last quarter. King Street Capital Management L.P. grew its position in shares of Ally Financial by 40.5% in the third 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 purchasing an additional 2,000,000 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Ally Financial by 2.7% in the third quarter. Dimensional Fund Advisors LP now owns 6,814,886 shares of the financial services provider’s stock valued at $165,315,000 after purchasing an additional 176,020 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its position in shares of Ally Financial by 13.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,993,000 shares of the financial services provider’s stock valued at $145,390,000 after purchasing an additional 717,100 shares during the last quarter.

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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.

Analyst Recommendations for Ally Financial (NYSE:ALLY)

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