Ally Financial (NYSE:ALLY) Given New $51.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods has reduced its price target for Ally Financial from $56.00 to $51.00, while maintaining an "outperform" rating, indicating a potential upside of 30.45% from the last closing price.
• Other analysts have varied opinions, with Morgan Stanley raising its price target to $52.00 and rating the stock "overweight," while Citigroup increased its target to $70.00 with a "buy" rating.
• Ally Financial's recent earnings report exceeded expectations, with an EPS of $0.99, and the company showed revenue growth of 3.0% year-over-year, totaling $2.08 billion for the quarter.

Ally Financial (NYSE:ALLY - Get Free Report) had its price objective cut by Keefe, Bruyette & Woods from $56.00 to $51.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 30.45% from the company's previous close.

Several other equities analysts also recently commented on ALLY. Morgan Stanley increased their price objective on shares of Ally Financial from $47.00 to $52.00 and gave the company an "overweight" rating in a research note on Monday. Wells Fargo & Company raised Ally Financial from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $37.00 to $45.00 in a report on Tuesday, September 2nd. Evercore ISI reduced their price objective on Ally Financial from $45.00 to $44.00 and set an "in-line" rating on the stock in a research report on Tuesday. Citigroup increased their target price on Ally Financial from $59.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Finally, Truist Financial lifted their price target on Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $45.36.

Ally Financial Stock Performance

ALLY traded down $0.10 during trading on Wednesday, hitting $39.10. The stock had a trading volume of 1,498,535 shares, compared to its average volume of 3,807,161. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $12.03 billion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 0.31 and a beta of 1.13. The company has a 50 day moving average price of $40.11 and a 200-day moving average price of $37.24. Ally Financial has a one year low of $29.52 and a one year high of $44.83.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its earnings results on Friday, July 18th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.78 by $0.21. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The company had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period last year, the firm earned $0.97 earnings per share. The business's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, research analysts predict that Ally Financial will post 3.57 EPS for the current year.

Hedge Funds Weigh In On Ally Financial

Several institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in Ally Financial during the first quarter valued at about $1,998,000. Teacher Retirement System of Texas purchased a new stake in shares of Ally Financial during the 1st quarter valued at approximately $1,462,000. Bessemer Group Inc. boosted its holdings in Ally Financial by 59.6% in the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock worth $37,000 after buying an additional 377 shares during the period. Janney Montgomery Scott LLC grew its stake in Ally Financial by 56.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider's stock valued at $2,466,000 after buying an additional 24,372 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Ally Financial by 40.6% during the 1st quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider's stock valued at $120,000 after acquiring an additional 952 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.

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