Ally Financial (NYSE:ALLY) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Ally Financial (NYSE:ALLY) from a hold rating to a buy rating in a report released on Wednesday.

ALLY has been the subject of several other research reports. JPMorgan Chase & Co. decreased their target price on Ally Financial from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday. Raymond James raised Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. Barclays upped their target price on Ally Financial from $36.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Ally Financial in a research report on Monday, October 21st. Finally, Wells Fargo & Company decreased their target price on Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Ally Financial currently has a consensus rating of “Hold” and a consensus price target of $42.53.

Ally Financial Stock Performance

NYSE ALLY opened at $37.09 on Wednesday. Ally Financial has a fifty-two week low of $31.77 and a fifty-two week high of $45.46. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 0.46 and a beta of 1.44. The business has a fifty day moving average of $36.89 and a 200-day moving average of $38.02. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 earnings per share. As a group, analysts predict that Ally Financial will post 3 earnings per share for the current fiscal year.

Institutional Trading of Ally Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC raised its position 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 worth $34,000 after purchasing an additional 577 shares during the period. Allworth Financial LP grew its holdings 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 buying an additional 421 shares in the last quarter. Quarry LP grew its holdings in Ally Financial by 311.4% in the 2nd quarter. Quarry LP now owns 1,510 shares of the financial services provider’s stock worth $60,000 after buying an additional 1,143 shares in the last quarter. Brooklyn Investment Group bought a new position in Ally Financial in the 3rd quarter worth approximately $63,000. Finally, Abich Financial Wealth Management LLC grew its holdings in Ally Financial by 12,535.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,527 shares of the financial services provider’s stock worth $100,000 after buying an additional 2,507 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

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.