Ally Financial (NYSE:ALLY) Price Target Raised to $34.00

Ally Financial (NYSE:ALLY) had its target price hoisted by research analysts at Wells Fargo & Company from $32.00 to $34.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 14.21% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. Truist Financial assumed coverage on Ally Financial in a research report on Tuesday, January 7th. They issued a “buy” rating and a $42.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Ally Financial from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price target on Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Evercore ISI lowered their price target on Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a research report on Monday, October 7th. Finally, StockNews.com cut Ally Financial from a “buy” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.50.

Ally Financial Stock Performance

Shares of NYSE ALLY opened at $39.63 on Thursday. The business has a fifty day simple moving average of $36.92 and a 200 day simple moving average of $37.93. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $12.08 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 0.40 and a beta of 1.44. Ally Financial has a one year low of $31.95 and a one year high of $45.46.

Ally Financial (NYSE:ALLY) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.21. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2,021,808.41 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. Ally Financial’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. Sell-side analysts expect that Ally Financial will post 2.96 EPS for the current year.

Hedge Funds Weigh In On Ally Financial

Several large investors have recently made changes to their positions in ALLY. Assenagon Asset Management S.A. lifted its stake in shares of Ally Financial by 233.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,430,128 shares of the financial services provider’s stock valued at $87,509,000 after acquiring an additional 1,701,264 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Ally Financial by 217.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider’s stock valued at $81,260,000 after buying an additional 1,563,008 shares during the period. Wedge Capital Management L L P NC lifted its stake in Ally Financial by 584.7% in the third quarter. Wedge Capital Management L L P NC now owns 1,395,308 shares of the financial services provider’s stock valued at $49,659,000 after buying an additional 1,191,529 shares during the period. Point72 Asset Management L.P. acquired a new position in Ally Financial in the third quarter valued at about $21,571,000. Finally, 140 Summer Partners LP acquired a new position in Ally Financial in the third quarter valued at about $19,140,000. Institutional investors and hedge funds 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.