Ally Financial (ALLY) PT Raised to $39.00 at BMO Capital Markets

Ally Financial (NYSE:ALLY) had its target price boosted by equities researchers at BMO Capital Markets to $39.00 in a report issued on Monday, The Fly reports. The firm currently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ target price suggests a potential upside of 31.05% from the company’s previous close.

ALLY has been the topic of several other research reports. Zacks Investment Research upgraded Ally Financial from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Thursday, April 11th. ValuEngine upgraded Ally Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. BTIG Research assumed coverage on Ally Financial in a research note on Thursday, January 24th. Oppenheimer set a $33.00 target price on Ally Financial and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Sandler O’Neill upgraded Ally Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $29.00 to $33.00 in a research note on Tuesday, February 26th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $32.85.

ALLY opened at $29.76 on Monday. Ally Financial has a 1 year low of $20.60 and a 1 year high of $30.20. The company has a debt-to-equity ratio of 3.33, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market capitalization of $11.92 billion, a price-to-earnings ratio of 8.91, a P/E/G ratio of 0.50 and a beta of 1.36.

Ally Financial (NYSE:ALLY) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.01. Ally Financial had a return on equity of 11.01% and a net margin of 23.12%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. Sell-side analysts predict that Ally Financial will post 3.62 EPS for the current fiscal year.

In other news, CEO Jeffrey Jonathan Brown sold 97,311 shares of the business’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $27.01, for a total transaction of $2,628,370.11. Following the sale, the chief executive officer now owns 632,569 shares in the company, valued at $17,085,688.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO David J. Debrunner sold 2,222 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $27.73, for a total value of $61,616.06. Following the sale, the chief accounting officer now owns 112,423 shares in the company, valued at approximately $3,117,489.79. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC raised its holdings in Ally Financial by 1,106.7% during the 3rd quarter. Renaissance Technologies LLC now owns 756,600 shares of the financial services provider’s stock valued at $20,012,000 after buying an additional 693,900 shares during the last quarter. Macquarie Group Ltd. raised its holdings in Ally Financial by 11.9% in the 3rd quarter. Macquarie Group Ltd. now owns 86,200 shares of the financial services provider’s stock worth $2,280,000 after purchasing an additional 9,200 shares in the last quarter. Nordea Investment Management AB raised its holdings in Ally Financial by 2.1% in the 3rd quarter. Nordea Investment Management AB now owns 236,641 shares of the financial services provider’s stock worth $6,259,000 after purchasing an additional 4,941 shares in the last quarter. NorthCoast Asset Management LLC raised its holdings in Ally Financial by 232.1% in the 3rd quarter. NorthCoast Asset Management LLC now owns 263,935 shares of the financial services provider’s stock worth $6,981,000 after purchasing an additional 184,462 shares in the last quarter. Finally, Paradigm Asset Management Co. LLC raised its holdings in Ally Financial by 175.2% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 47,670 shares of the financial services provider’s stock worth $1,261,000 after purchasing an additional 30,350 shares in the last quarter.

Ally Financial Company Profile

Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.

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The Fly

Analyst Recommendations for Ally Financial (NYSE:ALLY)

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