Ally Financial (NYSE:ALLY) Rating Reiterated by Royal Bank of Canada

Ally Financial (NYSE:ALLY)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a note issued to investors on Monday, Benzinga reports. They currently have a $40.00 target price on the financial services provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 15.17% from the stock’s previous close.

ALLY has been the topic of a number of other reports. Raymond James raised shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday. Keefe, Bruyette & Woods lowered their price target on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. raised shares of Ally Financial from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $46.00 to $40.00 in a report on Monday, October 7th. Bank of America decreased their target price on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Evercore ISI decreased their target price on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $40.38.

Ally Financial Price Performance

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

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, topping 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 business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the firm earned $0.83 earnings per share. Ally Financial’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that Ally Financial will post 2.87 earnings per share for the current year.

Institutional Investors Weigh In On Ally Financial

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in Ally Financial by 245.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 608,179 shares of the financial services provider’s stock worth $24,687,000 after buying an additional 432,350 shares during the period. OLD National Bancorp IN boosted its position in Ally Financial by 3.8% during the 2nd quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider’s stock worth $34,933,000 after buying an additional 32,478 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in Ally Financial by 15.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 369,491 shares of the financial services provider’s stock worth $14,988,000 after buying an additional 49,539 shares during the period. Fulton Bank N.A. acquired a new stake in Ally Financial during the 2nd quarter worth approximately $689,000. Finally, Duality Advisers LP acquired a new stake in Ally Financial during the 1st quarter worth approximately $1,000,000. 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.