Synchrony Financial (NYSE:SYF) Given New $72.50 Price Target at The Goldman Sachs Group

Synchrony Financial (NYSE:SYF) had its price objective lifted by equities researchers at The Goldman Sachs Group from $64.00 to $72.50 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 14.01% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Wells Fargo & Company upped their price target on shares of Synchrony Financial from $53.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada upped their target price on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 17th. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 target price on shares of Synchrony Financial in a report on Monday, October 14th. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a report on Friday, August 9th. Finally, Robert W. Baird set a $62.00 price objective on Synchrony Financial in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $57.43.

Synchrony Financial Stock Performance

Shares of NYSE:SYF traded down $0.46 on Tuesday, hitting $63.59. 1,282,573 shares of the company were exchanged, compared to its average volume of 3,968,953. The firm has a market capitalization of $24.76 billion, a P/E ratio of 8.30, a price-to-earnings-growth ratio of 0.90 and a beta of 1.59. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a 1-year low of $29.15 and a 1-year high of $67.76. The stock’s 50 day moving average price is $54.34 and its 200 day moving average price is $49.24.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.17. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $1.48 earnings per share. Sell-side analysts predict that Synchrony Financial will post 6.52 EPS for the current year.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the transaction, the insider now directly owns 99,743 shares in the company, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SYF. Unigestion Holding SA purchased a new stake in shares of Synchrony Financial in the third quarter valued at approximately $985,000. Coldstream Capital Management Inc. boosted its stake in Synchrony Financial by 14.1% during the third quarter. Coldstream Capital Management Inc. now owns 9,637 shares of the financial services provider’s stock worth $499,000 after buying an additional 1,188 shares during the last quarter. Brophy Wealth Management LLC purchased a new stake in Synchrony Financial in the 3rd quarter valued at $544,000. Harvest Investment Advisors LLC grew its holdings in Synchrony Financial by 0.7% in the 3rd quarter. Harvest Investment Advisors LLC now owns 39,954 shares of the financial services provider’s stock valued at $1,993,000 after buying an additional 265 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Synchrony Financial by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 215,396 shares of the financial services provider’s stock worth $10,744,000 after acquiring an additional 1,354 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

About Synchrony Financial

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.