Ally Financial (NYSE:ALLY) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Ally Financial (NYSE:ALLY) had its price objective raised by equities research analysts at The Goldman Sachs Group from $42.00 to $48.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 23.00% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Barclays raised their price target on Ally Financial from $36.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Raymond James upgraded shares of Ally Financial from an “underperform” rating to a “market perform” rating in a report on Monday, October 21st. Wolfe Research lowered shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a report on Thursday, December 5th. Evercore ISI dropped 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 research note on Monday, October 7th. Finally, Jefferies Financial Group lifted their price target on shares of Ally Financial from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $43.47.

Ally Financial Price Performance

NYSE:ALLY opened at $39.03 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $11.89 billion, a P/E ratio of 15.01, a P/E/G ratio of 0.42 and a beta of 1.44. Ally Financial has a 12 month low of $31.95 and a 12 month high of $45.46. The business’s 50-day moving average is $37.00 and its 200 day moving average is $37.95.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.57 by $0.21. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2,021,808.41 billion. During the same period in the previous year, the firm earned $0.45 earnings per share. Ally Financial’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Ally Financial will post 3.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ally Financial

Several hedge funds and other institutional investors have recently modified their holdings of the business. abrdn plc grew its stake in Ally Financial by 0.5% during the 4th quarter. abrdn plc now owns 269,964 shares of the financial services provider’s stock valued at $9,748,000 after acquiring an additional 1,454 shares in the last quarter. Asset Management Advisors LLC grew its holdings in shares of Ally Financial by 1.5% in the fourth quarter. Asset Management Advisors LLC now owns 167,080 shares of the financial services provider’s stock valued at $6,017,000 after purchasing an additional 2,520 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Ally Financial by 22.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,028 shares of the financial services provider’s stock valued at $469,000 after purchasing an additional 2,426 shares during the last quarter. GFS Advisors LLC acquired a new stake in Ally Financial in the 4th quarter valued at approximately $238,000. Finally, KBC Group NV boosted its stake in shares of Ally Financial by 133.3% in the fourth quarter. KBC Group NV now owns 582,042 shares of the financial services provider’s stock valued at $20,960,000 after purchasing an additional 332,538 shares during the period. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Company Profile

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.