JPMorgan Chase & Co. Upgrades Ally Financial (NYSE:ALLY) to “Overweight”

Ally Financial (NYSE:ALLY) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Monday, MarketBeat Ratings reports. The firm currently has a $40.00 price objective on the financial services provider’s stock, down from their previous price objective of $46.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 14.68% from the company’s previous close.

Several other equities research analysts have also issued reports on ALLY. BTIG Research cut Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, July 1st. Morgan Stanley cut their target price on Ally Financial from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Barclays decreased their price target on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 12th. Finally, Wells Fargo & Company lowered their price target on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $40.63.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $34.88 on Monday. The firm has a market capitalization of $10.60 billion, a PE ratio of 14.24, a P/E/G ratio of 0.37 and a beta of 1.39. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. The company has a 50-day moving average price of $38.71 and a two-hundred day moving average price of $39.39. Ally Financial has a twelve month low of $22.54 and a twelve month high of $45.46.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business earned $0.96 EPS. Ally Financial’s revenue was down 3.8% compared to the same quarter last year. Equities analysts forecast that Ally Financial will post 3.15 EPS for the current year.

Institutional Investors Weigh In On Ally Financial

Several large investors have recently bought and sold shares of ALLY. Boston Partners purchased a new position in shares of Ally Financial in the first quarter worth approximately $152,079,000. Jennison Associates LLC purchased a new position in shares of Ally Financial in the 1st quarter worth $52,252,000. Delta Global Management LP increased its position in shares of Ally Financial by 3,262.3% during the 1st quarter. Delta Global Management LP now owns 1,035,994 shares of the financial services provider’s stock valued at $42,051,000 after purchasing an additional 1,005,182 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ally Financial by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock worth $384,715,000 after buying an additional 987,489 shares during the period. Finally, ANTIPODES PARTNERS Ltd lifted its holdings in Ally Financial by 90.9% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 1,529,093 shares of the financial services provider’s stock valued at $62,066,000 after buying an additional 727,966 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors.

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.