The Goldman Sachs Group Raises Ally Financial (NYSE:ALLY) Price Target to $48.00

Ally Financial (NYSE:ALLYGet Free Report) had its price target boosted by The Goldman Sachs Group from $42.00 to $48.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 23.00% from the stock’s current price.

Several other equities research analysts also recently weighed in on ALLY. Jefferies Financial Group raised their price target on shares of Ally Financial from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday. Truist Financial assumed coverage on Ally Financial in a research note on Tuesday, January 7th. They issued a “buy” rating and a $42.00 price target for the company. StockNews.com cut Ally Financial from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley upped their target price on shares of Ally Financial from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Finally, Wolfe Research lowered shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $43.47.

Read Our Latest Stock Analysis on Ally Financial

Ally Financial Stock Performance

Ally Financial stock opened at $39.03 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.92 and a current ratio of 0.93. Ally Financial has a fifty-two week low of $31.95 and a fifty-two week high of $45.46. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.42 and a beta of 1.44. The stock’s 50 day simple moving average is $37.00 and its two-hundred day simple moving average is $37.95.

Ally Financial (NYSE:ALLYGet Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.21. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2,021,808.41 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. Ally Financial’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business earned $0.45 EPS. As a group, analysts expect that Ally Financial will post 3.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its position in shares of Ally Financial by 36.1% in the second quarter. Envestnet Asset Management Inc. now owns 81,592 shares of the financial services provider’s stock worth $3,237,000 after purchasing an additional 21,622 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Ally Financial by 86.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,527 shares of the financial services provider’s stock worth $140,000 after buying an additional 1,632 shares during the period. Xponance Inc. increased its stake in Ally Financial by 1.4% in the 2nd quarter. Xponance Inc. now owns 45,505 shares of the financial services provider’s stock worth $1,805,000 after buying an additional 640 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Ally Financial by 63.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 52,423 shares of the financial services provider’s stock valued at $2,080,000 after acquiring an additional 20,261 shares during the period. Finally, Caxton Associates LP purchased a new position in shares of Ally Financial in the second quarter valued at about $760,000. 88.76% of the stock is currently owned by institutional investors.

About Ally Financial

(Get Free Report)

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.

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