Ally Financial (NYSE:ALLY) Upgraded to “Strong-Buy” at Raymond James Financial

Ally Financial (NYSE:ALLY) was upgraded by Raymond James Financial to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.

A number of other research analysts have also recently commented on ALLY. Bank of America raised their price target on shares of Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Citigroup lowered their price objective on Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Wells Fargo & Company increased their target price on Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $58.00 target price on shares of Ally Financial in a research report on Wednesday, July 22nd. Finally, Royal Bank Of Canada boosted their price target on Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.73.

Ally Financial Price Performance

NYSE:ALLY opened at $42.69 on Tuesday. The company has a 50-day moving average of $44.32 and a 200-day moving average of $42.65. The company has a market capitalization of $12.99 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 0.26 and a beta of 1.09. Ally Financial has a 52 week low of $35.92 and a 52 week high of $47.29. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.01). The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.22 billion. Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. Ally Financial’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 earnings per share. As a group, equities research analysts anticipate that Ally Financial will post 5.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the sale, the insider directly owned 88,927 shares of the company’s stock, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Ally Financial during the 2nd quarter worth approximately $1,315,659,000. Berkshire Hathaway Inc bought a new position in Ally Financial in the 2nd quarter valued at $1,240,650,000. California State Teachers Retirement System raised its position in Ally Financial by 4,362.7% in the 2nd quarter. California State Teachers Retirement System now owns 14,336,308 shares of the financial services provider’s stock valued at $658,753,000 after purchasing an additional 14,015,057 shares during the last quarter. Donald Smith & CO. Inc. acquired a new position in Ally Financial in the second quarter worth $172,509,000. Finally, Norges Bank acquired a new position in Ally Financial in the fourth quarter worth $157,610,000. 88.76% of the stock is owned by institutional investors and hedge funds.

About Ally Financial

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.