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

Key Points

• Citigroup raised its price target for Ally Financial from $59.00 to $70.00, indicating a potential upside of 63.85% from the current share price.
• Ally Financial has received multiple rating upgrades, including changes from BTIG Research and Wells Fargo, reflecting growing analyst optimism with a consensus rating of "Moderate Buy."
• The company reported earnings of $0.99 per share, surpassing estimates and showing a 3.0% year-over-year revenue increase to $2.08 billion.

Ally Financial (NYSE:ALLY - Get Free Report) had its price target raised by research analysts at Citigroup from $59.00 to $70.00 in a report released on Monday, MarketBeat.com reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Citigroup's target price would indicate a potential upside of 58.25% from the company's previous close.

A number of other equities analysts have also weighed in on ALLY. JPMorgan Chase & Co. upped their target price on shares of Ally Financial from $44.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Wall Street Zen upgraded shares of Ally Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 23rd. Truist Financial increased their price target on shares of Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Royal Bank Of Canada reissued an "outperform" rating on shares of Ally Financial in a report on Monday, July 14th. Finally, Wells Fargo & Company raised shares of Ally Financial from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $37.00 to $45.00 in a report on Tuesday, September 2nd. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $44.40.

Ally Financial Trading Down 0.8%

Shares of ALLY traded down $0.35 during trading hours on Monday, reaching $44.23. The stock had a trading volume of 1,155,529 shares, compared to its average volume of 3,762,860. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. Ally Financial has a 52 week low of $29.52 and a 52 week high of $44.83. The firm has a 50-day moving average of $39.80 and a 200 day moving average of $36.82. The company has a market cap of $13.62 billion, a P/E ratio of 28.72, a P/E/G ratio of 0.34 and a beta of 1.14.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.21. The business had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.03 billion. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 EPS. On average, sell-side analysts expect that Ally Financial will post 3.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALLY. Captrust Financial Advisors lifted its stake in shares of Ally Financial by 49.7% in the 4th quarter. Captrust Financial Advisors now owns 8,910 shares of the financial services provider's stock valued at $321,000 after acquiring an additional 2,958 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Ally Financial by 192.7% in the 4th quarter. Cetera Investment Advisers now owns 53,364 shares of the financial services provider's stock worth $1,922,000 after acquiring an additional 35,130 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ally Financial by 49.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,002 shares of the financial services provider's stock valued at $1,909,000 after buying an additional 17,450 shares during the period. OMERS ADMINISTRATION Corp grew its stake in shares of Ally Financial by 20.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 11,348 shares of the financial services provider's stock valued at $409,000 after buying an additional 1,903 shares during the period. Finally, Man Group plc grew its stake in shares of Ally Financial by 40.2% in the 4th quarter. Man Group plc now owns 276,812 shares of the financial services provider's stock valued at $9,968,000 after buying an additional 79,428 shares during the period. 88.76% of the stock is currently 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.