Ally Financial (NYSE:ALLY) Price Target Cut to $41.00

Ally Financial (NYSE:ALLY) had its price target decreased by Morgan Stanley from $45.00 to $41.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 18.05% from the company’s previous close.

ALLY has been the subject of a number of other research reports. StockNews.com raised shares of Ally Financial from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank of Canada lowered their price objective on shares of Ally Financial from $49.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, September 12th. Bank of America reduced their target price on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. BTIG Research lowered shares of Ally Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, July 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.38.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $34.73 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. The company has a market cap of $10.56 billion, a P/E ratio of 14.18, a PEG ratio of 0.42 and a beta of 1.39. Ally Financial has a 52 week low of $22.54 and a 52 week high of $45.46. The company has a 50-day moving average price of $37.38 and a 200 day moving average price of $39.07.

Ally Financial (NYSE:ALLY) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the company posted $0.83 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts predict that Ally Financial will post 2.87 earnings per share for the current year.

Hedge Funds Weigh In On Ally Financial

A number of institutional investors and hedge funds have recently bought and sold shares of ALLY. Allspring Global Investments Holdings LLC raised its position in shares of Ally Financial by 510.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 526 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of Ally Financial during the first quarter worth about $28,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Ally Financial during the second quarter worth about $41,000. Hobbs Group Advisors LLC bought a new position in shares of Ally Financial during the second quarter worth about $52,000. Finally, First Community Trust NA bought a new position in shares of Ally Financial during the second quarter worth about $53,000. 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.