Morgan Stanley Reaffirms “Equal Weight” Rating for Synchrony Financial (NYSE:SYF)

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

A number of other research analysts have also weighed in on SYF. Bank of America upped their price objective on Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Truist Financial decreased their target price on shares of Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Barclays upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $59.00 to $79.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. raised shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and increased their target price for the company from $59.00 to $72.00 in a report on Monday, December 9th. Eight equities research 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.26.

Synchrony Financial Stock Performance

SYF traded up $0.38 during trading on Monday, hitting $44.19. The 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 P/E ratio of 5.17, a PEG ratio of 0.71 and a beta of 1.45. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a twelve month low of $39.67 and a twelve month high of $70.93. The company’s 50-day moving average price is $59.21 and its 200 day moving average price is $60.71.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 research analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Synchrony Financial

Several hedge funds have recently modified their holdings of SYF. Bogart Wealth LLC purchased a new position in shares of Synchrony Financial during the fourth quarter valued at approximately $26,000. TCTC Holdings LLC acquired a new position in Synchrony Financial in the 4th quarter valued at $27,000. Y.D. More Investments Ltd raised its holdings in Synchrony Financial by 111.5% in the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 253 shares during the last quarter. Accredited Wealth Management LLC purchased a new position in shares of Synchrony Financial during the 4th quarter worth $38,000. Finally, Quarry LP boosted its holdings 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 purchasing an additional 675 shares during the last quarter. 96.48% of the stock is 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.