Synchrony Financial (NYSE:SYF) Stock Rating Upgraded by BTIG Research

Synchrony Financial (NYSE:SYF) was upgraded by investment analysts at BTIG Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday,Finviz reports. The firm currently has a $100.00 price objective on the financial services provider’s stock. BTIG Research’s target price would suggest a potential upside of 41.73% from the company’s previous close.

SYF has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on shares of Synchrony Financial from $52.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday. Truist Financial raised their price objective on Synchrony Financial from $63.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, June 13th. Barclays increased their target price on Synchrony Financial from $62.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Morgan Stanley lifted their price target on shares of Synchrony Financial from $48.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Wall Street Zen raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.63.

Synchrony Financial Price Performance

SYF stock opened at $70.56 on Monday. The firm has a market cap of $26.86 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 0.73 and a beta of 1.46. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.25. Synchrony Financial has a 1 year low of $40.55 and a 1 year high of $71.88. The stock has a 50-day simple moving average of $61.65 and a 200-day simple moving average of $59.62.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.26. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. On average, equities analysts predict that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Curtis Howse sold 11,380 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following the transaction, the insider owned 108,062 shares in the company, valued at $7,024,030. This trade represents a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan S. Mothner sold 40,639 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $60.07, for a total value of $2,441,184.73. Following the completion of the sale, the insider owned 146,628 shares of the company’s stock, valued at $8,807,943.96. This trade represents a 21.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SYF. Allspring Global Investments Holdings LLC raised its position in shares of Synchrony Financial by 30.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 73,136 shares of the financial services provider’s stock worth $3,895,000 after purchasing an additional 17,061 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new stake in Synchrony Financial during the 1st quarter worth about $11,506,000. BTC Capital Management Inc. lifted its stake in Synchrony Financial by 25.9% during the first quarter. BTC Capital Management Inc. now owns 65,835 shares of the financial services provider’s stock valued at $3,485,000 after buying an additional 13,526 shares in the last quarter. Merit Financial Group LLC boosted its holdings in shares of Synchrony Financial by 70.2% in the first quarter. Merit Financial Group LLC now owns 10,657 shares of the financial services provider’s stock worth $564,000 after buying an additional 4,397 shares during the period. Finally, Clarius Group LLC purchased a new position in shares of Synchrony Financial in the first quarter worth approximately $242,000. Institutional investors own 96.48% of the company’s stock.

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.