Synchrony Financial (NYSE:SYF) Cut to Neutral at BTIG Research

Synchrony Financial (NYSE:SYF) was downgraded by analysts at BTIG Research from a “buy” rating to a “neutral” rating in a report issued on Monday, MarketBeat.com reports.

SYF has been the subject of several other research reports. JMP Securities boosted their price objective on Synchrony Financial from $49.00 to $60.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 16th. Robert W. Baird started coverage on shares of Synchrony Financial in a report on Friday, June 28th. They set an “outperform” rating and a $56.00 price target for the company. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Friday, August 9th. Compass Point began coverage on shares of Synchrony Financial in a research note on Tuesday, July 16th. They set a “buy” rating and a $56.00 price objective for the company. Finally, The Goldman Sachs Group increased their target price on shares of Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and a consensus price target of $50.41.

Synchrony Financial Price Performance

SYF stock opened at $47.13 on Monday. The firm has a market cap of $18.63 billion, a P/E ratio of 6.76, a P/E/G ratio of 1.09 and a beta of 1.62. The firm’s fifty day moving average is $48.29 and its 200 day moving average is $45.07. Synchrony Financial has a 52 week low of $27.30 and a 52 week high of $52.67. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 1.23.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.20. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period last year, the firm earned $1.32 earnings per share. Research analysts predict that Synchrony Financial will post 5.79 earnings per share for the current year.

Insider Transactions at Synchrony Financial

In related news, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related 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 transaction of $47,281.20. Following the sale, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the transaction, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Institutional Trading of Synchrony Financial

Institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in Synchrony Financial in the 1st quarter worth approximately $28,000. Altshuler Shaham Ltd purchased a new position in shares of Synchrony Financial in the 2nd quarter worth $31,000. International Assets Investment Management LLC bought a new stake in shares of Synchrony Financial in the second quarter worth $33,000. WR Wealth Planners LLC lifted its holdings in Synchrony Financial by 83.6% during 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 bought a new position in shares of Synchrony Financial in the second quarter worth approximately $39,000. 96.48% of the stock is currently 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.