JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Ally Financial (NYSE:ALLY) Stock

Ally Financial (NYSE:ALLY) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $40.00 to $43.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 8.51% from the stock’s current price.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group upped their price objective on Ally Financial from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group boosted their target price on shares of Ally Financial from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday. Raymond James upgraded shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. Evercore ISI lowered their price objective on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research report on Monday, October 7th. Finally, Morgan Stanley upped their target price on Ally Financial from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $43.47.

Ally Financial Stock Down 0.1 %

ALLY traded down $0.02 during trading hours on Thursday, reaching $39.63. 1,394,893 shares of the stock traded hands, compared to its average volume of 3,898,682. Ally Financial has a fifty-two week low of $31.95 and a fifty-two week 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 company has a market cap of $12.08 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 0.40 and a beta of 1.44. The firm’s fifty day simple moving average is $36.92 and its two-hundred day simple moving average is $37.93.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results 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 return on equity of 8.39% and a net margin of 10.84%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2,021,808.41 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. As a group, analysts forecast that Ally Financial will post 2.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its holdings in shares of Ally Financial by 1.9% during the 3rd quarter. CIBC Asset Management Inc now owns 15,638 shares of the financial services provider’s stock valued at $557,000 after acquiring an additional 293 shares in the last quarter. Maverick Capital Ltd. raised its stake 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 worth $930,000 after purchasing an additional 299 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Ally Financial by 8.2% during the 3rd quarter. Blue Trust Inc. now owns 4,660 shares of the financial services provider’s stock valued at $166,000 after buying an additional 352 shares during the last quarter. Allworth Financial LP raised its position in Ally Financial by 41.9% during the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 421 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Ally Financial by 153.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 577 shares in the last quarter. 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.