Synchrony Financial (NYSE:SYF) Stock Rating Upgraded by Morgan Stanley

Synchrony Financial (NYSE:SYF) was upgraded by investment analysts at Morgan Stanley from an “underweight” rating to an “overweight” rating in a research note issued on Thursday, Marketbeat reports. The firm presently has a $82.00 target price on the financial services provider’s stock, up from their previous target price of $40.00. Morgan Stanley’s target price would suggest a potential upside of 25.29% from the company’s previous close.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $59.00 to $72.00 in a research note on Monday, December 9th. The Goldman Sachs Group upped their price objective on shares of Synchrony Financial from $64.00 to $72.50 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods lifted their target price on shares of Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Robert W. Baird set a $62.00 target price on Synchrony Financial in a report on Thursday, October 17th. Finally, Evercore ISI lifted their price target on Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and an average target price of $63.63.

Synchrony Financial Trading Up 1.8 %

SYF opened at $65.45 on Thursday. The firm has a market capitalization of $25.48 billion, a PE ratio of 8.54, a P/E/G ratio of 0.82 and a beta of 1.63. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25. Synchrony Financial has a fifty-two week low of $35.29 and a fifty-two week high of $69.39. The company’s 50-day moving average is $62.61 and its 200 day moving average is $52.90.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the company earned $1.48 earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, research analysts predict that Synchrony Financial will post 6.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the completion of the sale, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. The trade was a 18.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the transaction, the insider now directly owns 127,587 shares in the company, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Synchrony Financial

A number of large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC grew its stake in shares of Synchrony Financial by 92.7% during the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after buying an additional 292 shares during the last quarter. Altshuler Shaham Ltd bought a new position in Synchrony Financial during the 2nd quarter worth approximately $31,000. International Assets Investment Management LLC purchased a new position in Synchrony Financial in the 2nd quarter worth approximately $33,000. WR Wealth Planners LLC lifted its position in Synchrony Financial by 83.6% in the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 326 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Synchrony Financial during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Company Profile

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.