Ally Financial (NYSE:ALLY) Earns Buy Rating from Analysts at Goldman Sachs Group

Stock analysts at Goldman Sachs Group began coverage on shares of Ally Financial (NYSE:ALLY) in a research note issued to investors on Monday, December 4th. The brokerage set a “buy” rating and a $32.00 price target on the financial services provider’s stock. Goldman Sachs Group’s target price would suggest a potential upside of 9.74% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Wells Fargo & Co began coverage on shares of Ally Financial in a research report on Friday, December 1st. They set an “outperform” rating and a $30.00 target price for the company. Morgan Stanley restated an “equal weight” rating and set a $28.00 target price (up previously from $26.00) on shares of Ally Financial in a research report on Thursday, November 30th. BidaskClub cut shares of Ally Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 10th. Zacks Investment Research upgraded shares of Ally Financial from a “sell” rating to a “hold” rating and set a $29.00 target price for the company in a research report on Friday, October 27th. Finally, BTIG Research restated a “buy” rating and set a $30.00 target price on shares of Ally Financial in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Ally Financial presently has an average rating of “Buy” and an average target price of $28.69.

Shares of Ally Financial (NYSE ALLY) traded down $0.25 during midday trading on Monday, hitting $29.16. 3,140,000 shares of the company traded hands, compared to its average volume of 3,500,000. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.21 and a quick ratio of 1.21. Ally Financial has a 12-month low of $18.11 and a 12-month high of $29.50. The firm has a market capitalization of $12,890.00, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.29 and a beta of 1.45.

Ally Financial (NYSE:ALLY) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.08. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Ally Financial had a net margin of 14.75% and a return on equity of 7.72%. During the same quarter in the previous year, the business posted $0.56 earnings per share. research analysts forecast that Ally Financial will post 2.27 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wetherby Asset Management Inc. grew its holdings in shares of Ally Financial by 0.5% during the second quarter. Wetherby Asset Management Inc. now owns 12,247 shares of the financial services provider’s stock worth $256,000 after buying an additional 56 shares in the last quarter. QS Investors LLC grew its holdings in Ally Financial by 0.7% in the second quarter. QS Investors LLC now owns 10,946 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 74 shares during the period. Advisors Asset Management Inc. grew its holdings in Ally Financial by 0.4% in the second quarter. Advisors Asset Management Inc. now owns 28,029 shares of the financial services provider’s stock valued at $586,000 after purchasing an additional 107 shares during the period. Cadence Capital Management LLC grew its holdings in Ally Financial by 0.8% in the second quarter. Cadence Capital Management LLC now owns 14,986 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 126 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its holdings in Ally Financial by 0.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 86,776 shares of the financial services provider’s stock valued at $1,814,000 after purchasing an additional 411 shares during the period.

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About Ally Financial

Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.

Analyst Recommendations for Ally Financial (NYSE:ALLY)

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