Ally Financial (NYSE:ALLY) Price Target Raised to $43.00 at TD Cowen

Ally Financial (NYSE:ALLY) had its target price increased by TD Cowen from $42.00 to $43.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price target would indicate a potential upside of 10.37% from the stock’s previous close.

ALLY has been the topic of several other reports. The Goldman Sachs Group restated a “buy” rating on shares of Ally Financial in a research report on Thursday, February 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Ally Financial in a research note on Monday, January 22nd. Evercore ISI increased their price target on shares of Ally Financial from $41.00 to $43.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. TheStreet upgraded shares of Ally Financial from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Finally, Bank of America upgraded shares of Ally Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $42.00 to $46.00 in a report on Tuesday, April 9th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $38.47.

Ally Financial Price Performance

NYSE ALLY traded up $0.25 on Friday, reaching $38.96. 3,926,315 shares of the company’s stock traded hands, compared to its average volume of 3,968,087. The stock has a market cap of $11.84 billion, a PE ratio of 13.07, a P/E/G ratio of 0.53 and a beta of 1.40. Ally Financial has a 12 month low of $22.54 and a 12 month high of $41.56. The stock has a 50-day simple moving average of $37.65 and a 200 day simple moving average of $32.82. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.90 and a quick ratio of 0.90.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.12. Ally Financial had a net margin of 12.42% and a return on equity of 9.41%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, research analysts predict that Ally Financial will post 2.94 earnings per share for the current year.

Hedge Funds Weigh In On Ally Financial

A number of institutional investors and hedge funds have recently made changes to their positions in ALLY. Vanguard Group Inc. grew its stake in shares of Ally Financial by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 28,009,495 shares of the financial services provider’s stock worth $747,293,000 after buying an additional 290,842 shares during the last quarter. Sessa Capital IM L.P. boosted its holdings in Ally Financial by 426.5% in the first quarter. Sessa Capital IM L.P. now owns 9,493,106 shares of the financial services provider’s stock worth $241,979,000 after acquiring an additional 7,689,915 shares in the last quarter. State Street Corp boosted its holdings in Ally Financial by 3.3% in the first quarter. State Street Corp now owns 8,749,404 shares of the financial services provider’s stock worth $380,424,000 after acquiring an additional 281,795 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Ally Financial by 18.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 8,343,564 shares of the financial services provider’s stock worth $212,677,000 after acquiring an additional 1,281,000 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Ally Financial by 195.1% during the fourth quarter. Millennium Management LLC now owns 6,058,768 shares of the financial services provider’s stock valued at $148,137,000 after acquiring an additional 4,005,417 shares in the last quarter. Institutional investors 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.