Ally Financial (NYSE:ALLY) Price Target Raised to $55.00

Ally Financial (NYSE:ALLY) had its target price lifted by investment analysts at Citigroup from $50.00 to $55.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target suggests a potential upside of 51.85% from the stock’s previous close.

ALLY has been the topic of a number of other reports. Raymond James raised Ally Financial from an “underperform” rating to a “market perform” rating in a research note on Monday, October 21st. Morgan Stanley dropped their price target on shares of Ally Financial from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Barclays reduced their price objective on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, September 12th. Wells Fargo & Company lowered their target price on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Thursday, September 26th. Finally, BTIG Research lowered shares of Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $40.69.

Ally Financial Stock Performance

ALLY stock opened at $36.22 on Friday. The firm has a 50 day moving average of $35.14 and a two-hundred day moving average of $38.75. Ally Financial has a 12 month low of $26.50 and a 12 month high of $45.46. The company has a market capitalization of $11.04 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 0.43 and a beta of 1.40. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company posted $0.83 earnings per share. Ally Financial’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts anticipate that Ally Financial will post 3 EPS for the current fiscal year.

Institutional Trading of Ally Financial

A number of hedge funds have recently modified their holdings of ALLY. Allspring Global Investments Holdings LLC lifted its holdings in shares of Ally Financial by 510.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 526 shares during the period. Transcendent Capital Group LLC acquired a new position in Ally Financial in the first quarter worth about $28,000. Venturi Wealth Management LLC lifted its stake in Ally Financial by 153.9% during the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 577 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Ally Financial during the second quarter valued at approximately $41,000. Finally, Allworth Financial LP grew its stake in shares of Ally Financial by 41.9% in the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 421 shares during the period. Institutional investors own 88.76% of the company’s stock.

About Ally Financial

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.