Ally Financial (NYSE:ALLY) Given New $42.00 Price Target at JPMorgan Chase & Co.

Ally Financial (NYSE:ALLY) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $40.00 to $42.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 6.95% from the company’s current price.

A number of other analysts also recently commented on the stock. Barclays dropped their price target on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 12th. Morgan Stanley cut their target price on Ally Financial from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. BTIG Research cut Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. TD Cowen cut their price objective on Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Finally, Bank of America lowered their target price on Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.73.

Ally Financial Stock Performance

Shares of NYSE ALLY traded up $0.72 during midday trading on Monday, hitting $39.27. 1,097,617 shares of the company’s stock were exchanged, compared to its average volume of 3,446,481. Ally Financial has a twelve month low of $29.68 and a twelve month high of $45.46. The firm has a market cap of $11.97 billion, a P/E ratio of 15.65, a PEG ratio of 0.46 and a beta of 1.42. The stock’s 50 day moving average price is $36.33 and its 200-day moving average price is $38.59. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts anticipate that Ally Financial will post 3 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ALLY. Fifth Third Bancorp raised its stake in shares of Ally Financial by 1.2% during the 2nd quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider’s stock worth $923,000 after purchasing an additional 278 shares in the last quarter. CIBC Asset Management Inc raised its position in Ally Financial by 1.9% during the third quarter. CIBC Asset Management Inc now owns 15,638 shares of the financial services provider’s stock valued at $557,000 after acquiring an additional 293 shares in the last quarter. Maverick Capital Ltd. lifted its stake in Ally Financial by 1.2% in the third quarter. Maverick Capital Ltd. now owns 26,120 shares of the financial services provider’s stock valued at $930,000 after acquiring an additional 299 shares during the last quarter. Blue Trust Inc. grew its position in Ally Financial by 8.2% in the third quarter. Blue Trust Inc. now owns 4,660 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 352 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of Ally Financial by 41.9% during the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 421 shares during the last quarter. Institutional investors and hedge funds 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.