Citigroup Begins Coverage on Ally Financial (NYSE:ALLY)

Stock analysts at Citigroup initiated coverage on shares of Ally Financial (NYSE:ALLY) in a research report issued to clients and investors on Monday, Briefing.com reports. The firm set a “buy” rating and a $50.00 price target on the financial services provider’s stock. Citigroup’s price objective indicates a potential upside of 25.57% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on ALLY. Evercore ISI boosted their price objective on Ally Financial from $41.00 to $43.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. cut Ally Financial from a “neutral” rating to an “underweight” rating and boosted their price objective for the stock from $37.00 to $39.00 in a report on Wednesday, April 3rd. BTIG Research started coverage on Ally Financial in a report on Friday, June 7th. They set a “buy” rating and a $51.00 price objective for the company. StockNews.com upgraded Ally Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company boosted their price objective on Ally Financial from $29.00 to $33.00 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.88.

Ally Financial Stock Performance

ALLY opened at $39.82 on Monday. The business’s 50-day moving average price is $39.06 and its two-hundred day moving average price is $37.17. Ally Financial has a 1 year low of $22.54 and a 1 year high of $41.77. The company has a market capitalization of $12.10 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 0.49 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.92.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.12. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the business posted $0.82 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities analysts expect that Ally Financial will post 3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALLY. Transcendent Capital Group LLC acquired a new stake in Ally Financial in the first quarter valued at $28,000. Northwest Financial Advisors bought a new stake in Ally Financial during the fourth quarter valued at $31,000. Rise Advisors LLC bought a new stake in Ally Financial during the first quarter valued at $32,000. Quarry LP boosted 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 acquiring an additional 598 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC boosted 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 acquiring an additional 789 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

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.