In a report issued on July 13, John Pancari from Evercore ISI maintained a Buy rating on Ally Financial (ALLY – Research Report), with a price target of $40.00. The company’s shares closed last Thursday at $34.01, close to its 52-week low of $31.66.
According to TipRanks.com, Pancari is a 3-star analyst with an average return of 1.8% and a 46.5% success rate. Pancari covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Discover Financial Services, and Bread Financial Holdings.
Ally Financial has an analyst consensus of Strong Buy, with a price target consensus of $47.06, which is a 40.1% upside from current levels. In a report issued on July 20, Goldman Sachs also reiterated a Buy rating on the stock with a $40.00 price target.
Ally Financial’s market cap is currently $10.94B and has a P/E ratio of 4.91.
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Ally Financial, Inc. is a holding company, which provides digital financial services to consumers, businesses, automotive dealers, and corporate clients. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations. The Automotive Finance Operations segment offers retail installment sales contracts, loans and leases, offering term loans to dealers, financing dealer floorplans and other lines of credit to dealers, warehouse lines to companies, fleet financing, providing financing to companies and municipalities for the purchase or lease of vehicles and equipment, and vehicle remarketing services. The Insurance Operations segment focuses on finance protection and insurance products sold primarily through the automotive dealer channel, and commercial insurance products sold directly to dealers. The Mortgage Finance Operations segment consists of the management of a held-for-investment consumer mortgage finance loan portfolio, which includes bulk purchases of jumbo and LMI mortgage loans originated by third parties. The Corporate Finance Operations segment provides senior secured leveraged cash flow and asset-based loans to mostly United States based middle market companies focuses on businesses owned by private equity sponsors with loans typically used for leveraged buyouts, mergers and acquisitions, debt refinancing, restructurings, and working capital. The company was founded in 1919 and is headquartered in Detroit, MI.
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