Has Ally Financial (ALLY) Outpaced Other Finance Stocks This Year?
For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Ally Financial (ALLY) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.
Ally Financial is one of 896 individual stocks in the Finance sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. ALLY is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ALLY's full-year earnings has moved 194.35% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ALLY has moved about 0.49% on a year-to-date basis. Meanwhile, the Finance sector has returned an average of -6.22% on a year-to-date basis. This shows that Ally Financial is outperforming its peers so far this year.
Looking more specifically, ALLY belongs to the Financial - Consumer Loans industry, which includes 22 individual stocks and currently sits at #58 in the Zacks Industry Rank. On average, this group has lost an average of 7.39% so far this year, meaning that ALLY is performing better in terms of year-to-date returns.
ALLY will likely be looking to continue its solid performance, so investors interested in Finance stocks should continue to pay close attention to the company.
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