Royal Bank of Canada Forecasts Strong Price Appreciation for Ally Financial (NYSE:ALLY) Stock

Ally Financial (NYSE:ALLY) had its price objective increased by stock analysts at Royal Bank of Canada from $41.00 to $45.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 13.55% from the company’s previous close.

Several other equities analysts also recently issued reports on ALLY. Truist Financial began coverage on shares of Ally Financial in a research note on Tuesday, January 7th. They set a “buy” rating and a $42.00 price objective on the stock. Jefferies Financial Group lifted their price target on Ally Financial from $35.00 to $40.00 and gave the company a “hold” rating in a report on Thursday. Wells Fargo & Company raised their price objective on Ally Financial from $32.00 to $34.00 and gave the stock an “underweight” rating in a report on Thursday. Barclays boosted their price objective on shares of Ally Financial from $36.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Finally, Wolfe Research cut shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.47.

Ally Financial Price Performance

Shares of ALLY traded down $0.02 during mid-day trading on Thursday, reaching $39.63. 1,394,893 shares of the company’s stock were exchanged, compared to its average volume of 3,898,682. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36. Ally Financial has a 52-week low of $31.95 and a 52-week high of $45.46. The company has a market cap of $12.08 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 0.40 and a beta of 1.44. The company has a 50-day simple moving average of $36.92 and a two-hundred day simple moving average of $37.93.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.21. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2,021,808.41 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, sell-side analysts predict that Ally Financial will post 2.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Ally Financial

A number of hedge funds have recently added to or reduced their stakes in ALLY. Venturi Wealth Management LLC increased its holdings in shares of Ally Financial by 153.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 577 shares during the period. Allworth Financial LP increased its stake in shares of Ally Financial by 41.9% in the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 421 shares during the period. UMB Bank n.a. raised its holdings in shares of Ally Financial by 218.8% during the fourth quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider’s stock valued at $56,000 after buying an additional 1,061 shares during the last quarter. Quarry LP boosted its position in shares of Ally Financial by 311.4% during the second quarter. Quarry LP now owns 1,510 shares of the financial services provider’s stock worth $60,000 after buying an additional 1,143 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in Ally Financial in the 3rd quarter valued at approximately $63,000. 88.76% of the stock is currently owned by institutional investors.

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.