Synchrony Financial (NYSE:SYF) Raised to Overweight at JPMorgan Chase & Co.

Synchrony Financial (NYSE:SYF) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a $72.00 price objective on the financial services provider’s stock, up from their prior price objective of $59.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 6.01% from the company’s current price.

Other analysts also recently issued reports about the company. Barclays raised their target price on Synchrony Financial from $49.00 to $59.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. TD Cowen lifted their price objective on shares of Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Morgan Stanley increased their target price on shares of Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their price target on shares of Synchrony Financial from $64.00 to $72.50 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Robert W. Baird set a $62.00 price objective on shares of Synchrony Financial in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.68.

Synchrony Financial Trading Up 1.5 %

Shares of SYF stock opened at $67.92 on Monday. Synchrony Financial has a 1-year low of $34.42 and a 1-year high of $69.00. The firm has a market cap of $26.44 billion, a P/E ratio of 8.87, a PEG ratio of 0.94 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. The firm’s 50-day simple moving average is $59.42 and its 200-day simple moving average is $51.37.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.77 by $0.17. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $1.48 earnings per share. As a group, equities analysts forecast that Synchrony Financial will post 6.53 EPS for the current year.

Insiders Place Their Bets

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 shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan S. Mothner sold 34,163 shares of the firm’s 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 sale, the insider now owns 127,587 shares of the company’s stock, valued at $8,291,879.13. The trade was 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 owned by company insiders.

Institutional Investors Weigh In On Synchrony Financial

Hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC lifted its stake in 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 in the last quarter. Altshuler Shaham Ltd purchased a new position in Synchrony Financial during the 2nd quarter worth approximately $31,000. International Assets Investment Management LLC acquired a new stake in Synchrony Financial during the 2nd quarter valued at $33,000. WR Wealth Planners LLC lifted its holdings 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 purchasing an additional 326 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Synchrony Financial during the second quarter valued at $39,000. 96.48% of the stock is owned by hedge funds and other institutional investors.

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.