Ally Financial (NYSE:ALLY) Price Target Cut to $37.00

Ally Financial (NYSE:ALLY) had its target price reduced by stock analysts at TD Cowen from $45.00 to $37.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective would suggest a potential upside of 8.25% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Bank of America decreased their price target on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Keefe, Bruyette & Woods lowered their target price on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Morgan Stanley dropped their price target on Ally Financial from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 11th. BTIG Research lowered Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Finally, Barclays dropped their target price on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.06.

Ally Financial Stock Performance

Shares of ALLY opened at $34.18 on Monday. Ally Financial has a one year low of $22.54 and a one year high of $45.46. The company has a 50-day simple moving average of $40.14 and a two-hundred day simple moving average of $39.62. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market capitalization of $10.39 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.32 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 EPS. On average, analysts anticipate that Ally Financial will post 3.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners purchased a new stake in Ally Financial during the 1st quarter valued at $152,079,000. Scout Investments Inc. bought a new stake in shares of Ally Financial in the fourth quarter worth $63,080,000. Norges Bank purchased a new stake in Ally Financial during the fourth quarter valued at $62,869,000. Jennison Associates LLC bought a new position in Ally Financial in the first quarter valued at about $52,252,000. Finally, Delta Global Management LP boosted its position in Ally Financial by 3,262.3% in the first quarter. Delta Global Management LP now owns 1,035,994 shares of the financial services provider’s stock worth $42,051,000 after purchasing an additional 1,005,182 shares during 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.