Barclays took its Ally Financial Inc. [NYSE:ALLY] rating to the equivalent of Overweight from Equal Weight, and the price target to $48, in a research note dated January 4, 2021. That figure represents around a 34.60% premium from where the company’s shares closed on Thursday. Some new analysts also started their coverage, with RBC Capital Mkts’s analysts assigning the shares to “an Outperform” rating in a research note to investors issued in late December. Meanwhile, Wolfe Research had launched its coverage on ALLY with “an Outperform”, in a research note produced for clients July 31, 2020. In addition, there was an upgrade from JP Morgan on July 15, 2020. The rater changed ALLY from ”a Neutral” to “an Overweight”.
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Is Ally Financial Inc. [NYSE:ALLY] a Good Buy Right Now?
It should be noted that ALLY technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Ally Financial Inc.’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 4.87 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 4.73 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 4.83 million shares.
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ALLY Price Performance
On Wall Street, Ally Financial Inc. [NYSE:ALLY] finished Thursday’s session up 1.16% at $35.66. The stock went up to $35.92 at the same session while its lowest single day price was $35.05. In the last five days, it saw a rise of about 2.24%, Ally Financial Inc. shares gained by almost 16.69% since the beginning of the year. However, the share price has dropped to as low as 0.65% below its one year high. On 12/31/20, the company shares recorded $35.92, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 03/18/20, the same year at $10.22. The company’s shares have inclined by 16.08% in the past year. The 50-day SMA achieved is $31.02 while the 200-day SMA is $22.84. Volume gained to 2.65 million from 1.88 million in the previous session.
Ally Financial Inc. [ALLY] Valuation Measures
Notably, Ally Financial Inc. [ALLY] stock cannot be classified as a good candidate in the listing of underestimated low-priced Credit Services companies to purchase soonest possible with the prevailing 12-month PE ratio of 17.40. The measure means the stock is exchanging at a premium as compared to the 14.50x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 1.45 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 2.79 which means ALLY serve an unattractive investment opportunity compared to its competitors.
ALLY Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 35.17 level, and in case of violation of this particular level, it will cause more drop to 34.67 level. On the upper level, 36.41 is still the key resistance. The stock may increase to the subsequent resistance at 36.04. The Relative Strength Index (RSI) pinned on the 14-day chart is 67.61, implying a neutral technical stance while the MACD stands at 0.72, meaning price will decrease in the next trading period. Percent R indicator moved to 9.98%, implying bullish price movement. Stochastic %K at 87.03% suggest selling the stock.
What is the short interest in Ally Financial Inc.?
Short interest in the Ally Financial Inc. stock has plunged, decreasing by -1.9 million shares to total 9.61 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 7.71 million, data from Yahoo Finance shows. The increase of 19.77% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 2.87% of the overall float for the stock.
Ally Financial Inc.’s Biggest Shareholders: Who Owns Ally Financial Inc. [ALLY]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 33,215,215 shares or roughly 8.88% of the outstanding ALLY shares. This means their shares have reduced by -2,128,629 from the 33,215,215 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Harris Associates LP updated stake is worth $941,696,334. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -7.25% stake valued at $505,892,955 while Oaktree Capital Management LP cut theirs at $424,544,741. The T. Rowe Price Associates, Inc.’s holdings currently number 10,683,823 shares at $380985128.18. According to the firm’s last 13F report, SSgA Funds Management, Inc. shares in the company at filing stood at 10,438,189 shares, roughly $309,492,304.
ALLY Earnings Forecast For The Current Quarter
Ally Financial Inc. [ALLY] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $1.67B and an earnings per share of $1 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.7B at an EPS of $0.89 for Mar 2021. The estimates represent upside of 10.00% and 56.54% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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ALLY Earnings Estimates For The Current Year
For the financial year, Ally Financial Inc. [NYSE:ALLY] is expected to bring in revenue of $6.38B. The returns are nearly $-10.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 2.42, lower than that of FY19 by -$1.3. Estimates put this year’s earnings growth at -34.90%, 56.20% for the next, and at an annual 5.36% over the next 5-year period. As for sales, forecasts are for a decrease of -0.20% in the current fiscal year and a further 10.00% over the following year.
