Ally Financial (NYSE:ALLY) Price Target Lowered to $32.00 at Wells Fargo & Company

Ally Financial (NYSE:ALLY) had its target price cut by research analysts at Wells Fargo & Company from $37.00 to $32.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 7.65% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised shares of Ally Financial from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $39.00 to $45.00 in a research report on Monday, July 8th. Barclays decreased their price objective on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, September 12th. Keefe, Bruyette & Woods dropped their target price on Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft decreased their price target on Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, July 1st. Finally, Royal Bank of Canada dropped their price target on Ally Financial from $49.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, September 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Ally Financial currently has an average rating of “Hold” and a consensus price target of $40.76.

Ally Financial Stock Up 0.1 %

Shares of ALLY stock traded up $0.03 during mid-day trading on Thursday, hitting $34.65. The stock had a trading volume of 716,769 shares, compared to its average volume of 3,474,185. Ally Financial has a 12-month low of $22.54 and a 12-month high of $45.46. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. The firm’s 50-day moving average is $39.96 and its two-hundred day moving average is $39.58. The firm has a market capitalization of $10.53 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 0.37 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, topping 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 the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. Ally Financial’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, analysts predict that Ally Financial will post 3.15 earnings per share for the current fiscal year.

Institutional Trading of Ally Financial

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its position in Ally Financial by 510.7% in the 2nd 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 in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Ally Financial in the 1st quarter valued at $28,000. Rise Advisors LLC purchased a new stake in Ally Financial during the first quarter worth $32,000. Quarry LP grew its position in Ally Financial by 165.7% during the fourth quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after buying an additional 598 shares during the period. Finally, SYSTM Wealth Solutions LLC grew its position in Ally Financial by 571.7% during the first quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider’s stock valued at $38,000 after buying an additional 789 shares during the period. Hedge funds and other institutional investors 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.