Synchrony Financial (SYF) Upgraded at ValuEngine

ValuEngine upgraded shares of Synchrony Financial (NYSE:SYF) from a hold rating to a buy rating in a research report report published on Thursday.

SYF has been the subject of a number of other research reports. Keefe, Bruyette & Woods reiterated a buy rating and issued a $44.00 price objective on shares of Synchrony Financial in a research report on Tuesday, April 11th. Oppenheimer Holdings, Inc. assumed coverage on shares of Synchrony Financial in a research report on Tuesday, April 11th. They issued a market perform rating for the company. Jefferies Group LLC decreased their price objective on shares of Synchrony Financial from $45.00 to $40.00 and set a buy rating for the company in a research report on Monday, May 1st. BTIG Research decreased their price objective on shares of Synchrony Financial from $42.00 to $36.00 and set a buy rating for the company in a research report on Monday, May 1st. Finally, JMP Securities reiterated an outperform rating and issued a $35.00 price objective (down previously from $41.00) on shares of Synchrony Financial in a research report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Synchrony Financial currently has an average rating of Buy and an average target price of $37.71.

Synchrony Financial (SYF) opened at 29.42 on Thursday. The company has a market capitalization of $23.86 billion, a PE ratio of 11.22 and a beta of 1.02. The company has a 50-day moving average price of $27.88 and a 200-day moving average price of $33.48. Synchrony Financial has a one year low of $23.25 and a one year high of $38.06. Synchrony Financial also saw some unusual options trading activity on Monday. Traders purchased 12,615 put options on the company. This represents an increase of 606% compared to the typical volume of 1,787 put options.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Friday, April 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by $0.13. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.54 billion. Synchrony Financial had a net margin of 14.21% and a return on equity of 15.42%. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Analysts expect that Synchrony Financial will post $2.60 earnings per share for the current fiscal year.

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In related news, insider David P. Melito sold 748 shares of the company’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $34.24, for a total transaction of $25,611.52. Following the completion of the sale, the insider now owns 43,390 shares of the company’s stock, valued at approximately $1,485,673.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Will W. Graylin acquired 18,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were acquired at an average cost of $27.80 per share, with a total value of $500,400.00. Following the purchase, the director now owns 55,389 shares in the company, valued at approximately $1,539,814.20. The disclosure for this purchase can be found here. 0.03% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in SYF. BlackRock Inc. boosted its stake in shares of Synchrony Financial by 2,275.1% in the first quarter. BlackRock Inc. now owns 48,272,035 shares of the financial services provider’s stock valued at $1,655,730,000 after buying an additional 46,239,640 shares in the last quarter. FMR LLC boosted its stake in shares of Synchrony Financial by 44.7% in the fourth quarter. FMR LLC now owns 27,582,023 shares of the financial services provider’s stock valued at $1,000,400,000 after buying an additional 8,518,794 shares in the last quarter. Norges Bank acquired a new stake in shares of Synchrony Financial during the fourth quarter valued at about $289,634,000. JPMorgan Chase & Co. boosted its stake in shares of Synchrony Financial by 46.7% in the first quarter. JPMorgan Chase & Co. now owns 10,529,375 shares of the financial services provider’s stock valued at $361,158,000 after buying an additional 3,354,021 shares in the last quarter. Finally, Baupost Group LLC MA boosted its stake in shares of Synchrony Financial by 17.6% in the fourth quarter. Baupost Group LLC MA now owns 20,665,000 shares of the financial services provider’s stock valued at $749,520,000 after buying an additional 3,100,000 shares in the last quarter. 88.94% of the stock is owned by 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SYF”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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