Ally Financial (NYSE:ALLY) PT Lowered to $45.00

Ally Financial (NYSE:ALLY) had its price target dropped by Morgan Stanley from $49.00 to $45.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 36.99% from the company’s previous close.

A number of other equities analysts have also issued reports on ALLY. BTIG Research began coverage on Ally Financial in a research report on Friday, June 7th. They issued a “buy” rating and a $51.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on Ally Financial from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, July 1st. Citigroup began coverage on shares of Ally Financial in a report on Monday, June 24th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, Barclays boosted their target price on shares of Ally Financial from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Ally Financial has an average rating of “Hold” and a consensus price target of $41.65.

Ally Financial Price Performance

Shares of ALLY stock opened at $32.85 on Wednesday. The firm has a fifty day simple moving average of $41.43 and a 200-day simple moving average of $39.73. The company has a market capitalization of $9.99 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 0.38 and a beta of 1.41. Ally Financial has a twelve month low of $22.54 and a twelve month high of $45.46. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company posted $0.96 EPS. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. Equities research analysts anticipate that Ally Financial will post 3.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ally Financial

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its position in shares of Ally Financial by 510.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 526 shares during the period. Transcendent Capital Group LLC purchased a new stake in Ally Financial during the first quarter valued at about $28,000. Rise Advisors LLC acquired a new position in shares of Ally Financial in the first quarter worth about $32,000. Quarry LP lifted its position in shares of Ally Financial by 165.7% in the 4th quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 598 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC boosted its stake in Ally Financial by 571.7% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 789 shares during the period. 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.