Ally Financial (NYSE:ALLY) Given New $43.00 Price Target at TD Cowen

Ally Financial (NYSE:ALLY) had its target price increased by investment analysts at TD Cowen from $42.00 to $43.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective points to a potential upside of 10.37% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Morgan Stanley raised Ally Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $37.00 to $47.00 in a report on Thursday, February 8th. Evercore ISI upped their price objective on shares of Ally Financial from $41.00 to $43.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Barclays raised their target price on shares of Ally Financial from $32.00 to $43.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Ally Financial in a report on Thursday, February 1st. Finally, Raymond James cut shares of Ally Financial from a “market perform” rating to an “underperform” rating in a research note on Friday, January 5th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Ally Financial currently has a consensus rating of “Hold” and an average price target of $38.47.

Ally Financial Stock Performance

Shares of Ally Financial stock traded up $0.25 during trading on Friday, reaching $38.96. The company’s stock had a trading volume of 3,926,315 shares, compared to its average volume of 3,968,087. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.54. The business’s 50-day moving average price is $37.65 and its 200-day moving average price is $32.82. Ally Financial has a 52 week low of $22.54 and a 52 week high of $41.56. The firm has a market cap of $11.84 billion, a PE ratio of 13.07, a P/E/G ratio of 0.53 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. Ally Financial had a net margin of 12.42% and a return on equity of 9.41%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts forecast that Ally Financial will post 2.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Ally Financial by 1.0% during the third quarter. Vanguard Group Inc. now owns 28,009,495 shares of the financial services provider’s stock worth $747,293,000 after acquiring an additional 290,842 shares during the last quarter. Sessa Capital IM L.P. lifted its position in shares of Ally Financial by 426.5% in the 1st quarter. Sessa Capital IM L.P. now owns 9,493,106 shares of the financial services provider’s stock worth $241,979,000 after purchasing an additional 7,689,915 shares during the period. State Street Corp boosted its stake in shares of Ally Financial by 3.3% in the 1st quarter. State Street Corp now owns 8,749,404 shares of the financial services provider’s stock valued at $380,424,000 after purchasing an additional 281,795 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Ally Financial by 18.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 8,343,564 shares of the financial services provider’s stock worth $212,677,000 after buying an additional 1,281,000 shares during the period. Finally, Millennium Management LLC raised its stake in Ally Financial by 195.1% during the fourth quarter. Millennium Management LLC now owns 6,058,768 shares of the financial services provider’s stock worth $148,137,000 after buying an additional 4,005,417 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

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.