Ally Financial (NYSE:ALLY) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has increased the price objective for Ally Financial's stock from $42.00 to $43.00, indicating a potential upside of 6.19% from its current price.
• Multiple analysts, including Wells Fargo and TD Cowen, have recently upgraded their ratings and price targets for Ally Financial, reflecting positive sentiment on the stock.
• Ally Financial's stock currently holds an average rating of "Moderate Buy" from analysts, with a target price averaging around $45.67.

Ally Financial (NYSE:ALLY - Get Free Report) had its price objective increased by stock analysts at JPMorgan Chase & Co. from $42.00 to $43.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 6.19% from the company's current price.

ALLY has been the subject of a number of other research reports. Wells Fargo & Company upgraded 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 research report on Tuesday, September 2nd. TD Cowen upgraded Ally Financial from a "hold" rating to a "buy" rating and increased their price objective for the company from $43.00 to $50.00 in a research report on Monday. Citigroup increased their price objective on Ally Financial from $59.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ally Financial in a research report on Monday, July 14th. Finally, Keefe, Bruyette & Woods cut their price objective on Ally Financial from $56.00 to $51.00 and set an "outperform" rating for the company in a research report on Wednesday, October 1st. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $45.67.

Ally Financial Price Performance

NYSE ALLY traded up $0.67 on Monday, reaching $40.49. 4,085,015 shares of the stock traded hands, compared to its average volume of 3,850,744. The firm's fifty day simple moving average is $40.40 and its 200 day simple moving average is $37.51. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.31. The company has a market cap of $12.46 billion, a price-to-earnings ratio of 24.39, a P/E/G ratio of 0.30 and a beta of 1.18. Ally Financial has a 12 month low of $29.52 and a 12 month high of $44.83.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter. The firm had revenue of $2.06 billion during the quarter. Ally Financial had a return on equity of 9.96% and a net margin of 8.10%. As a group, research analysts predict that Ally Financial will post 3.57 EPS for the current fiscal year.

Institutional Trading of Ally Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. WPG Advisers LLC purchased a new stake in shares of Ally Financial during the first quarter worth $25,000. SVB Wealth LLC purchased a new stake in shares of Ally Financial during the first quarter worth $27,000. Allworth Financial LP raised its holdings in shares of Ally Financial by 385.2% during the second quarter. Allworth Financial LP now owns 752 shares of the financial services provider's stock worth $29,000 after acquiring an additional 597 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Ally Financial by 662.0% during the second quarter. Hantz Financial Services Inc. now owns 823 shares of the financial services provider's stock worth $32,000 after acquiring an additional 715 shares in the last quarter. Finally, Westside Investment Management Inc. raised its holdings in shares of Ally Financial by 116.8% during the second quarter. Westside Investment Management Inc. now owns 837 shares of the financial services provider's stock worth $34,000 after acquiring an additional 451 shares in the last quarter. 88.76% of the stock is currently owned by hedge funds and other 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.

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