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

Ally Financial (NYSE:ALLY) had its price target hoisted by research analysts at Morgan Stanley from $41.00 to $45.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential upside of 15.31% from the company’s current price.

Several other analysts also recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price objective on shares of Ally Financial in a research note on Monday, October 21st. Raymond James raised shares of Ally Financial from an “underperform” rating to a “market perform” rating in a report on Monday, October 21st. Barclays raised their price objective on Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Truist Financial started coverage on shares of Ally Financial in a report on Tuesday, January 7th. They set a “buy” rating and a $42.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $43.47.

Ally Financial Stock Down 2.7 %

Shares of NYSE ALLY 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. The stock has a market cap of $11.89 billion, a PE ratio of 15.01, a PEG ratio of 0.42 and a beta of 1.44. The business has a fifty day moving average of $37.00 and a two-hundred day moving average of $37.95. Ally Financial has a 52-week low of $31.95 and a 52-week high of $45.46.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.21. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2,021,808.41 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.45 EPS. As a group, equities research analysts expect that Ally Financial will post 3.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ally Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc lifted its position in Ally Financial by 1.9% during the third quarter. CIBC Asset Management Inc now owns 15,638 shares of the financial services provider’s stock valued at $557,000 after purchasing an additional 293 shares during the period. Maverick Capital Ltd. raised its position in shares of Ally Financial by 1.2% during the 3rd quarter. Maverick Capital Ltd. now owns 26,120 shares of the financial services provider’s stock valued at $930,000 after purchasing an additional 299 shares during the period. Blue Trust Inc. lifted its position in shares of Ally Financial by 8.2% in the third quarter. Blue Trust Inc. now owns 4,660 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 352 shares in the last quarter. Allworth Financial LP boosted its stake in Ally Financial by 41.9% in the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 421 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in shares of Ally Financial by 153.9% during the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 577 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

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.