Barclays Forecasts Strong Price Appreciation for Ally Financial (NYSE:ALLY) Stock

Ally Financial (NYSE:ALLY) had its price target raised by Barclays from $36.00 to $44.00 in a research report report published on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

Several other analysts have also recently commented on the stock. Citigroup raised their price target on shares of Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. StockNews.com raised shares of Ally Financial from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. BTIG Research cut Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Ally Financial in a research report on Monday, October 21st. Finally, Bank of America reduced their price target on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Ally Financial presently has a consensus rating of “Hold” and an average price target of $42.67.

Ally Financial Stock Down 0.5 %

ALLY stock opened at $35.61 on Monday. The company’s 50 day simple moving average is $36.87 and its 200-day simple moving average is $38.17. Ally Financial has a 52-week low of $31.77 and a 52-week high of $45.46. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $10.85 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.46 and a beta of 1.44.

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

Institutional Investors Weigh In On Ally Financial

Several hedge funds and other institutional investors have recently modified their holdings of ALLY. Allspring Global Investments Holdings LLC grew its stake in shares of Ally Financial by 510.7% in the second 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 last quarter. Venturi Wealth Management LLC grew its stake in shares of Ally Financial by 153.9% in the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 577 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Ally Financial in the second quarter worth $41,000. Allworth Financial LP grew its stake in shares of Ally Financial by 41.9% in the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 421 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Ally Financial by 311.4% in the second quarter. Quarry LP now owns 1,510 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 1,143 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Company Profile

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.