Synchrony Financial (NYSE:SYF) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Synchrony Financial (NYSE:SYF) had its price target hoisted by The Goldman Sachs Group from $72.50 to $82.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 23.05% from the stock’s current price.

A number of other research firms have also issued reports on SYF. TD Cowen raised their target price on shares of Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Evercore ISI raised their target price on Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Compass Point lifted their price target on Synchrony Financial from $60.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Robert W. Baird set a $62.00 price objective on Synchrony Financial in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.43.

Synchrony Financial Price Performance

NYSE SYF opened at $66.64 on Wednesday. The firm has a market cap of $25.95 billion, a P/E ratio of 8.70, a price-to-earnings-growth ratio of 0.82 and a beta of 1.64. The stock’s 50-day moving average is $65.15 and its two-hundred day moving average is $54.96. Synchrony Financial has a fifty-two week low of $35.29 and a fifty-two week high of $69.39. 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 (NYSE:SYF) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the company earned $1.48 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts anticipate that Synchrony Financial will post 6.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Curtis Howse sold 21,934 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the sale, the insider now owns 99,743 shares in the company, valued at approximately $5,498,831.59. This represents a 18.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the transaction, the insider now directly owns 127,587 shares of the company’s stock, valued at $8,291,879.13. This represents a 21.12 % 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

Large investors have recently modified their holdings of the stock. National Pension Service raised its position in Synchrony Financial by 22.7% in the 3rd quarter. National Pension Service now owns 957,758 shares of the financial services provider’s stock worth $47,773,000 after purchasing an additional 177,051 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new stake in shares of Synchrony Financial in the 2nd quarter valued at $951,000. Ensign Peak Advisors Inc raised its position in shares of Synchrony Financial by 9.1% during the second quarter. Ensign Peak Advisors Inc now owns 443,251 shares of the financial services provider’s stock worth $20,917,000 after acquiring an additional 36,865 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Synchrony Financial by 119.0% during the third quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock valued at $12,123,000 after acquiring an additional 132,047 shares during the period. Finally, Brophy Wealth Management LLC bought a new position in Synchrony Financial in the third quarter valued at about $544,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

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.