Citigroup Forecasts Strong Price Appreciation for Ally Financial (NYSE:ALLY) Stock

Ally Financial (NYSE:ALLY) had its price objective hoisted by Citigroup from $50.00 to $55.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Citigroup’s price objective points to a potential upside of 51.85% from the company’s current price.

Other analysts also recently issued reports about the stock. TD Cowen dropped their price target on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. BTIG Research downgraded Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. raised Ally Financial from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $46.00 to $40.00 in a research note on Monday, October 7th. Barclays dropped their price objective on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 12th. Finally, Keefe, Bruyette & Woods decreased their target price on Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ally Financial currently has a consensus rating of “Hold” and an average target price of $40.69.

Ally Financial Stock Performance

Shares of ALLY stock opened at $36.22 on Friday. Ally Financial has a 12-month low of $26.50 and a 12-month high of $45.46. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. The business has a 50 day simple moving average of $35.14 and a 200 day simple moving average of $38.75.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.38. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 earnings per share. On average, equities research analysts anticipate that Ally Financial will post 3 EPS for the current year.

Hedge Funds Weigh In On Ally Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its holdings in shares of Ally Financial by 68.8% during the third quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider’s stock worth $2,455,000 after purchasing an additional 28,114 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 valued at $24,687,000 after buying an additional 432,350 shares during the period. OLD National Bancorp IN boosted its stake in shares of 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 valued at $34,933,000 after buying an additional 32,478 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of 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 valued at $14,988,000 after acquiring an additional 49,539 shares in the last quarter. Finally, Fulton Bank N.A. acquired a new position in shares of Ally Financial in the second quarter worth $689,000. Hedge funds and other institutional investors 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.