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

Ally Financial (NYSE:ALLY) had its price target increased by research analysts at JPMorgan Chase & Co. from $40.00 to $42.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 8.95% from the company’s previous close.

A number of other analysts have also commented on ALLY. Citigroup boosted their target price on Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Morgan Stanley decreased their target price on Ally Financial from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Wells Fargo & Company decreased their price objective on Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a report on Thursday, September 26th. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. Finally, Bank of America decreased their price objective on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.73.

Ally Financial Stock Performance

ALLY stock opened at $38.55 on Monday. The stock has a 50-day moving average price of $36.38 and a 200-day moving average price of $38.59. Ally Financial has a 1-year low of $29.68 and a 1-year high of $45.46. 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 cap of $11.75 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 0.46 and a beta of 1.42.

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

Hedge Funds Weigh In On Ally Financial

Several institutional investors have recently bought and sold shares of ALLY. CWM LLC lifted its stake in Ally Financial by 10.3% in the second quarter. CWM LLC now owns 8,395 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 782 shares during the last quarter. M&G Plc bought a new stake in Ally Financial during the 2nd quarter valued at $497,000. PGGM Investments raised its holdings in Ally Financial by 7.4% during the 2nd quarter. PGGM Investments now owns 87,495 shares of the financial services provider’s stock valued at $3,471,000 after acquiring an additional 6,008 shares during the period. Blue Trust Inc. raised its holdings in Ally Financial by 10.2% during the 2nd quarter. Blue Trust Inc. now owns 4,308 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 400 shares during the period. Finally, Sara Bay Financial raised its holdings in Ally Financial by 30.3% during the 2nd quarter. Sara Bay Financial now owns 24,176 shares of the financial services provider’s stock valued at $959,000 after acquiring an additional 5,615 shares during the period. 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.