BTIG Research Downgrades Ally Financial (NYSE:ALLY) to Neutral

Ally Financial (NYSE:ALLY) was downgraded by BTIG Research from a “buy” rating to a “neutral” rating in a report released on Monday, MarketBeat Ratings reports.

Several other equities analysts also recently issued reports on the stock. Royal Bank of Canada reduced their price target on shares of Ally Financial from $49.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. JPMorgan Chase & Co. raised shares of Ally Financial from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $39.00 to $45.00 in a report on Monday, July 8th. Wells Fargo & Company boosted their price target on shares of Ally Financial from $33.00 to $37.00 and gave the company an “underweight” rating in a report on Thursday, July 18th. Evercore ISI upped their price objective on shares of Ally Financial from $43.00 to $45.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Finally, Morgan Stanley reduced their price objective on shares of Ally Financial from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, September 11th. Two research 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.41.

Ally Financial Stock Up 2.2 %

ALLY stock opened at $33.77 on Monday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. Ally Financial has a 1-year low of $22.54 and a 1-year high of $45.46. The firm has a fifty day moving average price of $41.00 and a two-hundred day moving average price of $39.70. The firm has a market cap of $10.27 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 0.32 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company posted $0.96 earnings per share. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. Research analysts predict that Ally Financial will post 3.51 EPS for the current year.

Institutional Trading of Ally Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new stake in Ally Financial during the 2nd quarter worth about $702,000. EP Wealth Advisors LLC acquired a new stake in Ally Financial during the 2nd quarter worth about $233,000. Quarry LP raised its holdings in Ally Financial by 311.4% during the 2nd quarter. Quarry LP now owns 1,510 shares of the financial services provider’s stock worth $60,000 after buying an additional 1,143 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Ally Financial by 2.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 60,728 shares of the financial services provider’s stock worth $2,409,000 after buying an additional 1,598 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in Ally Financial by 597.3% during the 2nd quarter. NewEdge Advisors LLC now owns 131,183 shares of the financial services provider’s stock worth $5,204,000 after buying an additional 112,369 shares during the period. Institutional investors and hedge funds 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.