Ally Financial (NYSE:ALLY) Price Target Raised to $45.00

Key Points

• Evercore ISI raised Ally Financial's price target from $42.00 to $45.00, indicating a potential upside of 2.95% based on the company's previous close.
• Multiple analysts have upgraded their ratings on Ally Financial, with an average target price of $45.43 and a consensus rating of "Moderate Buy."
• Ally Financial reported an EPS of $0.99 for the last quarter, exceeding estimates and reflecting a 3.0% revenue increase compared to the same period last year.

Ally Financial (NYSE:ALLY - Get Free Report) had its price objective upped by research analysts at Evercore ISI from $42.00 to $45.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "in-line" rating on the financial services provider's stock. Evercore ISI's target price suggests a potential upside of 2.95% from the company's previous close.

Several other research analysts have also weighed in on ALLY. Truist Financial upped their target price on Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Wells Fargo & Company raised Ally Financial from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $37.00 to $45.00 in a report on Tuesday, September 2nd. Royal Bank Of Canada reissued an "outperform" rating on shares of Ally Financial in a report on Monday, July 14th. JPMorgan Chase & Co. increased their price objective on Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Finally, Morgan Stanley reissued an "overweight" rating and set a $47.00 price objective (up previously from $39.00) on shares of Ally Financial in a report on Thursday, July 10th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $45.43.

Ally Financial Price Performance

Shares of Ally Financial stock traded up $0.23 during trading on Tuesday, hitting $43.71. The stock had a trading volume of 510,709 shares, compared to its average volume of 3,773,864. 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 $13.45 billion, a P/E ratio of 28.37, a PEG ratio of 0.34 and a beta of 1.13. The business has a fifty day moving average of $39.94 and a two-hundred day moving average of $36.97. Ally Financial has a fifty-two week low of $29.52 and a fifty-two week 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, beating the consensus estimate of $0.78 by $0.21. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the business posted $0.97 earnings per share. Ally Financial's revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts expect that Ally Financial will post 3.57 earnings per share for the current fiscal year.

Institutional Trading of Ally Financial

A number of hedge funds have recently modified their holdings of the company. WPG Advisers LLC bought a new position in shares of Ally Financial during the 1st quarter worth approximately $25,000. Copia Wealth Management bought a new position in shares of Ally Financial during the 1st quarter worth approximately $27,000. SVB Wealth LLC bought a new position in shares of Ally Financial during the 1st quarter worth approximately $27,000. Allworth Financial LP lifted its position in shares of Ally Financial by 385.2% during the 2nd quarter. Allworth Financial LP now owns 752 shares of the financial services provider's stock worth $29,000 after buying an additional 597 shares during the period. Finally, Hantz Financial Services Inc. lifted its position in shares of Ally Financial by 662.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 823 shares of the financial services provider's stock worth $32,000 after buying an additional 715 shares during the period. Institutional investors own 88.76% of the company's stock.

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.

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