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

Ally Financial (NYSE:ALLY) had its price objective boosted by analysts at Morgan Stanley from $41.00 to $42.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 21.32% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. upped their target price on Ally Financial from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Bank of America cut their price target on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Wells Fargo & Company decreased their price objective on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a report on Thursday, September 26th. Raymond James upgraded shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research note on Monday, October 21st. Finally, Keefe, Bruyette & Woods lifted their price target on Ally Financial from $44.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Ally Financial currently has a consensus rating of “Hold” and an average price target of $42.14.

Ally Financial Trading Up 0.0 %

Shares of ALLY stock traded up $0.01 during mid-day trading on Thursday, reaching $34.62. The company’s stock had a trading volume of 1,360,241 shares, compared to its average volume of 3,447,430. The company’s 50 day simple moving average is $36.72 and its 200-day simple moving average is $38.53. 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 has a 12-month low of $31.77 and a 12-month high of $45.46. The firm has a market capitalization of $10.55 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 0.46 and a beta of 1.42.

Ally Financial (NYSE:ALLY) last announced its earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.57 by $0.38. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the business posted $0.83 EPS. On average, research analysts predict that Ally Financial will post 3 EPS for the current fiscal year.

Institutional Investors Weigh In On Ally Financial

Several large investors have recently modified their holdings of ALLY. Allspring Global Investments Holdings LLC increased its position in shares of Ally Financial by 510.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 526 shares in the last quarter. Venturi Wealth Management LLC grew its stake in 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 acquiring an additional 577 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Ally Financial in the 2nd quarter valued at about $41,000. Allworth Financial LP lifted its position in shares of Ally Financial by 41.9% in the third 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 in the last quarter. Finally, Quarry LP boosted its holdings in shares of Ally Financial by 311.4% during the second quarter. Quarry LP now owns 1,510 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 1,143 shares during the period. 88.76% of the stock is owned by 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.