Compass Point Increases Synchrony Financial (NYSE:SYF) Price Target to $60.00

Synchrony Financial (NYSE:SYF) had its price objective raised by equities researchers at Compass Point from $56.00 to $60.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Compass Point’s price objective would indicate a potential upside of 5.82% from the company’s current price.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company increased their price objective on Synchrony Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Robert W. Baird started coverage on shares of Synchrony Financial in a research note on Friday, June 28th. They issued an “outperform” rating and a $56.00 price target on the stock. Jefferies Financial Group boosted their price objective on shares of Synchrony Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. JMP Securities reiterated a “market outperform” rating and set a $60.00 price target on shares of Synchrony Financial in a research note on Monday. Finally, Evercore ISI reduced their price target on shares of Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.95.

Synchrony Financial Stock Up 0.3 %

Shares of Synchrony Financial stock opened at $56.70 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09. Synchrony Financial has a 52-week low of $27.30 and a 52-week high of $57.26. The company has a market capitalization of $22.41 billion, a P/E ratio of 7.88, a P/E/G ratio of 1.26 and a beta of 1.61. The company has a 50 day moving average of $49.23 and a 200 day moving average of $46.50.

Synchrony Financial (NYSE:SYF) last released 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 business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 EPS. As a group, research analysts forecast that Synchrony Financial will post 5.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Bart Schaller sold 930 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the transaction, the insider now owns 49,390 shares in the company, valued at $2,510,987.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the transaction, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bart Schaller sold 930 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the sale, the insider now owns 49,390 shares in the company, valued at $2,510,987.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in shares of Synchrony Financial during the 1st quarter worth approximately $28,000. Altshuler Shaham Ltd acquired a new position in shares of Synchrony Financial in the second quarter worth $31,000. International Assets Investment Management LLC acquired a new position in shares of Synchrony Financial in the second quarter worth $33,000. WR Wealth Planners LLC lifted its position in shares of 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 acquiring an additional 326 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Synchrony Financial during the second quarter valued at $39,000. 96.48% of the stock is currently 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.