Synchrony Financial (NYSE:SYF) received a $53.00 price objective from research analysts at Barclays in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Barclays’ price objective indicates a potential upside of 42.51% from the company’s previous close.
A number of other brokerages also recently commented on SYF. Jefferies Group increased their price objective on shares of Synchrony Financial to $44.00 and gave the company a “top pick” rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $39.00 price objective on shares of Synchrony Financial in a research report on Thursday, October 12th. Wedbush set a $41.00 price objective on shares of Synchrony Financial and gave the company a “hold” rating in a research report on Monday, December 11th. Wells Fargo & Company initiated coverage on shares of Synchrony Financial in a research report on Tuesday, October 10th. They issued a “market perform” rating and a $33.00 price objective on the stock. Finally, BidaskClub raised shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Synchrony Financial has a consensus rating of “Buy” and a consensus target price of $37.88.
Shares of Synchrony Financial (NYSE:SYF) opened at $37.19 on Tuesday. The stock has a market cap of $29,104.59, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 1.88 and a beta of 1.06. Synchrony Financial has a fifty-two week low of $26.01 and a fifty-two week high of $38.06. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.38.
In related news, insider David P. Melito sold 1,881 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $38.00, for a total value of $71,478.00. Following the transaction, the insider now directly owns 43,140 shares of the company’s stock, valued at approximately $1,639,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David P. Melito sold 2,580 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $35.00, for a total transaction of $90,300.00. The disclosure for this sale can be found here. Insiders sold a total of 6,961 shares of company stock worth $244,508 over the last ninety days. Insiders own 0.03% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Synchrony Financial by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 52,233,692 shares of the financial services provider’s stock valued at $1,557,609,000 after buying an additional 956,331 shares during the last quarter. FMR LLC grew its position in Synchrony Financial by 27.1% during the 2nd quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock worth $1,102,267,000 after purchasing an additional 7,874,689 shares during the last quarter. First Eagle Investment Management LLC grew its position in Synchrony Financial by 2.1% during the 3rd quarter. First Eagle Investment Management LLC now owns 17,666,015 shares of the financial services provider’s stock worth $548,530,000 after purchasing an additional 362,810 shares during the last quarter. Berkshire Hathaway Inc. purchased a new position in Synchrony Financial during the 2nd quarter worth $520,747,000. Finally, CI Investments Inc. grew its position in Synchrony Financial by 7.5% during the 3rd quarter. CI Investments Inc. now owns 10,960,562 shares of the financial services provider’s stock worth $340,325,000 after purchasing an additional 766,368 shares during the last quarter. 85.77% of the stock is currently owned by hedge funds and other institutional investors.
About Synchrony Financial
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
