JPMorgan Chase & Co. Issues Pessimistic Forecast for Ally Financial (NYSE:ALLY) Stock Price

Ally Financial (NYSE:ALLY) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $45.00 to $42.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 5.55% from the company’s current price.

ALLY has been the subject of a number of other research reports. Truist Financial boosted their price target on Ally Financial from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Royal Bank Of Canada restated an “outperform” rating on shares of Ally Financial in a research note on Monday, July 14th. Evercore ISI lowered their price target on Ally Financial from $45.00 to $44.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 30th. Wells Fargo & Company upgraded Ally Financial from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $37.00 to $45.00 in a research note on Tuesday, September 2nd. Finally, BTIG Research upgraded Ally Financial from a “sell” rating to a “neutral” rating in a research report on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $45.14.

Ally Financial Stock Performance

Shares of ALLY stock opened at $39.79 on Tuesday. Ally Financial has a 1-year low of $29.52 and a 1-year high of $44.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $12.25 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 0.31 and a beta of 1.18. The stock’s fifty day simple moving average is $40.14 and its 200-day simple moving average is $37.36.

Ally Financial (NYSE:ALLY) last issued its earnings results on Friday, July 18th. The financial services provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.21. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts predict that Ally Financial will post 3.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ally Financial

Large investors have recently added to or reduced their stakes in the company. WPG Advisers LLC bought a new position in shares of Ally Financial in the 1st quarter valued at about $25,000. Copia Wealth Management acquired a new stake in Ally Financial during the first quarter worth approximately $27,000. SVB Wealth LLC acquired a new stake in shares of Ally Financial in the first quarter valued at approximately $27,000. Allworth Financial LP raised its position in shares of Ally Financial by 385.2% in the second quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock valued at $29,000 after buying an additional 597 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of Ally Financial by 662.0% in the second quarter. Hantz Financial Services Inc. now owns 823 shares of the financial services provider’s stock valued at $32,000 after buying an additional 715 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

Ally Financial Company Profile

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.