Ally Financial (NYSE:ALLY) Upgraded to Strong-Buy at Raymond James Financial

Key Points

• Raymond James upgraded Ally Financial to “strong buy,” while the broader analyst consensus remains “moderate buy” with an average price target of $53.73.
• Ally reported quarterly revenue of $2.28 billion, above estimates and up 9.8% year over year, though earnings per share of $1.21 narrowly missed expectations.
• The stock opened at $42.69, with a market capitalization of approximately $12.99 billion; institutional investors own 88.76% of outstanding shares.

Ally Financial (NYSE:ALLY - Get Free Report) was upgraded by research analysts at Raymond James Financial to a "strong-buy" rating in a report issued on Tuesday, Zacks reports.

A number of other analysts have also recently weighed in on ALLY. Wall Street Zen cut shares of Ally Financial from a "buy" rating to a "hold" rating in a research note on Monday, June 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $58.00 price objective on shares of Ally Financial in a report on Wednesday, July 22nd. Royal Bank Of Canada lifted their target price on shares of Ally Financial from $52.00 to $55.00 and gave the stock an "outperform" rating in a report on Friday, July 10th. Weiss Ratings raised shares of Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, June 23rd. Finally, Wells Fargo & Company upped their price target on shares of Ally Financial from $52.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.73.

Ally Financial Price Performance

NYSE ALLY opened at $42.69 on Tuesday. The stock's 50-day moving average is $44.32 and its two-hundred day moving average is $42.65. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial has a fifty-two week low of $35.92 and a fifty-two week high of $47.29. The firm has a market cap of $12.99 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 0.26 and a beta of 1.09.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.01). The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.99 earnings per share. On average, analysts anticipate that Ally Financial will post 5.19 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Stephanie N. Richard sold 5,000 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total value of $221,150.00. Following the sale, the insider owned 88,927 shares in the company, valued at approximately $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company's stock.

Institutional Trading of Ally Financial

Hedge funds have recently bought and sold shares of the stock. Tocqueville Asset Management L.P. acquired a new stake in Ally Financial during the second quarter worth about $17,613,000. State of Wyoming acquired a new position in Ally Financial in the 2nd quarter valued at approximately $3,195,000. Intech Investment Management LLC acquired a new position in Ally Financial in the 4th quarter valued at approximately $3,926,000. Qsemble Capital Management LP raised its holdings in Ally Financial by 136.0% in the 4th quarter. Qsemble Capital Management LP now owns 159,744 shares of the financial services provider's stock valued at $7,235,000 after acquiring an additional 92,043 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Ally Financial by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider's stock worth $243,795,000 after acquiring an additional 241,000 shares during the period. 88.76% of the stock is owned by institutional investors.

Ally Financial Company Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.

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