Ally Financial (NYSE:ALLY) Coverage Initiated at Goldman Sachs Group

Goldman Sachs Group started coverage on shares of Ally Financial (NYSE:ALLY) in a research note issued to investors on Tuesday, The Fly reports. The firm issued a buy rating on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on the company. Credit Suisse Group lifted their price target on Ally Financial from $28.00 to $29.00 and gave the company an outperform rating in a report on Thursday, June 25th. BMO Capital Markets raised Ally Financial from a market perform rating to an outperform rating and lifted their price target for the company from $25.00 to $30.00 in a report on Thursday, May 14th. Morgan Stanley boosted their price objective on Ally Financial from $26.00 to $31.00 and gave the stock an overweight rating in a report on Thursday, June 25th. Nomura lowered their price target on shares of Ally Financial from $31.00 to $30.00 and set a buy rating for the company in a research report on Tuesday, April 21st. Finally, Cfra increased their price objective on shares of Ally Financial to $12.00 and gave the company a strong sell rating in a report on Tuesday, April 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $27.82.

Shares of NYSE:ALLY opened at $19.05 on Tuesday. Ally Financial has a 52 week low of $10.22 and a 52 week high of $35.42. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.99 and a current ratio of 0.99. The company’s fifty day moving average is $19.37 and its 200-day moving average is $22.20. The company has a market capitalization of $7.11 billion, a PE ratio of 7.41 and a beta of 1.62.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Monday, April 20th. The financial services provider reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($1.29). Ally Financial had a net margin of 16.46% and a return on equity of 6.92%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. On average, analysts forecast that Ally Financial will post 0.72 EPS for the current year.

In related news, Director Mayree C. Clark acquired 15,000 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were acquired at an average cost of $14.25 per share, with a total value of $213,750.00. Following the transaction, the director now owns 65,880 shares of the company’s stock, valued at approximately $938,790. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.36% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Private Capital Group LLC lifted its position in Ally Financial by 15.2% in the 1st quarter. Private Capital Group LLC now owns 5,233 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 691 shares in the last quarter. Exane Derivatives increased its stake in Ally Financial by 76.6% in the 1st quarter. Exane Derivatives now owns 1,766 shares of the financial services provider’s stock valued at $25,000 after buying an additional 766 shares during the last quarter. Liberty One Investment Management LLC increased its stake in Ally Financial by 2.9% in the 1st quarter. Liberty One Investment Management LLC now owns 27,222 shares of the financial services provider’s stock valued at $393,000 after buying an additional 772 shares during the last quarter. Carroll Financial Associates Inc. increased its stake in Ally Financial by 59.5% in the 1st quarter. Carroll Financial Associates Inc. now owns 2,104 shares of the financial services provider’s stock valued at $30,000 after buying an additional 785 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Ally Financial by 1.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 79,488 shares of the financial services provider’s stock valued at $1,147,000 after buying an additional 800 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors and hedge funds.

About Ally Financial

Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.

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