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

Ally Financial (NYSE:ALLY) had its target price raised by analysts at Barclays from $36.00 to $44.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price would suggest a potential upside of 20.85% from the company’s current price.

A number of other research firms have also issued reports on ALLY. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Ally Financial in a research report on Monday, October 21st. Bank of America lowered their price target on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Ally Financial from $44.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company dropped their target price on Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a report on Thursday, September 26th. Finally, Citigroup lifted their price target on Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.71.

Ally Financial Trading Up 1.6 %

NYSE:ALLY traded up $0.56 on Monday, reaching $36.41. 1,103,535 shares of the company’s stock were exchanged, compared to its average volume of 1,862,820. The business has a fifty day moving average of $36.84 and a 200-day moving average of $38.24. 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 has a 52-week low of $31.77 and a 52-week high of $45.46. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the company posted $0.83 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that Ally Financial will post 3 earnings per share for the current year.

Institutional Trading of Ally Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in 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 purchasing an additional 526 shares during the period. Commonwealth Equity Services LLC raised its position in Ally Financial by 4.1% in the second quarter. Commonwealth Equity Services LLC now owns 77,941 shares of the financial services provider’s stock worth $3,092,000 after acquiring an additional 3,070 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Ally Financial by 9.8% in the second quarter. Natixis Advisors LLC now owns 31,641 shares of the financial services provider’s stock valued at $1,255,000 after acquiring an additional 2,828 shares during the period. National Bank of Canada FI boosted its position in shares of Ally Financial by 1,764.8% during the 2nd quarter. National Bank of Canada FI now owns 32,541 shares of the financial services provider’s stock worth $1,278,000 after purchasing an additional 30,796 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Ally Financial by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 75,147 shares of the financial services provider’s stock worth $2,981,000 after purchasing an additional 480 shares during the period. Hedge funds and other 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.