Synchrony Financial (NYSE:SYF) Receives “Equal Weight” Rating from Morgan Stanley

Synchrony Financial (NYSE:SYF)‘s stock had its “equal weight” rating reiterated by equities research analysts at Morgan Stanley in a research report issued on Monday,Benzinga reports. They currently have a $44.00 price target on the financial services provider’s stock, down from their prior price target of $82.00. Morgan Stanley’s target price indicates a potential downside of 0.43% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on SYF. Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a report on Tuesday, January 28th. Barclays raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. Truist Financial dropped their price target on Synchrony Financial from $77.00 to $65.00 and set a “hold” rating for the company in a research report on Friday, March 21st. Royal Bank of Canada raised their price objective on Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. Finally, UBS Group upped their target price on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $66.26.

Synchrony Financial Price Performance

NYSE SYF traded up $0.38 during trading hours on Monday, reaching $44.19. The company’s stock had a trading volume of 2,964,903 shares, compared to its average volume of 3,869,118. The firm has a market capitalization of $17.18 billion, a price-to-earnings ratio of 5.17, a P/E/G ratio of 0.71 and a beta of 1.45. The company’s 50-day moving average is $59.21 and its two-hundred day moving average is $60.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. Synchrony Financial has a 1-year low of $39.67 and a 1-year high of $70.93.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. On average, equities analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Institutional Investors Weigh In On Synchrony Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bogart Wealth LLC acquired a new position in shares of Synchrony Financial in the 4th quarter valued at $26,000. TCTC Holdings LLC purchased a new position in Synchrony Financial during the 4th quarter worth $27,000. Y.D. More Investments Ltd increased its stake in Synchrony Financial by 111.5% in the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 253 shares during the period. Accredited Wealth Management LLC purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at about $38,000. Finally, Quarry LP boosted its stake in shares of Synchrony Financial by 301.3% during the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after buying an additional 675 shares during the period. Hedge funds and other 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.