Synchrony Financial (SYF) Given a $41.00 Price Target by Wedbush Analysts
Synchrony Financial (NYSE:SYF) received a $41.00 price target from stock analysts at Wedbush in a note issued to investors on Monday. The firm currently has a “hold” rating on the financial services provider’s stock. Wedbush’s price target points to a potential upside of 9.74% from the stock’s previous close.
Several other brokerages have also recently issued reports on SYF. Jefferies Group boosted their price objective on shares of Synchrony Financial to $44.00 and gave the company a “top pick” rating in a research note on Friday, December 1st. Barclays reissued a “buy” rating and set a $43.00 price objective on shares of Synchrony Financial in a research note on Tuesday, November 21st. Wells Fargo & Company lifted their target price on shares of Synchrony Financial from $33.00 to $35.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Synchrony Financial from a “strong sell” rating to a “hold” rating in a report on Monday, October 23rd. Finally, Morgan Stanley lifted their target price on shares of Synchrony Financial from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Twelve equities research 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 currently has a consensus rating of “Buy” and a consensus price target of $37.35.
Shares of Synchrony Financial (NYSE SYF) opened at $37.36 on Monday. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $38.06. The stock has a market cap of $29,347.19, a price-to-earnings ratio of 14.31, a PEG ratio of 1.89 and a beta of 1.06. 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 other news, Director Olympia J. Snowe acquired 3,000 shares of the business’s stock in a transaction on Friday, November 17th. The shares were purchased at an average price of $33.40 per share, for a total transaction of $100,200.00. Following the acquisition, the director now directly owns 10,608 shares of the company’s stock, valued at approximately $354,307.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David P. Melito sold 1,881 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $38.00, for a total transaction of $71,478.00. Following the completion of the transaction, the insider now owns 43,140 shares in the company, valued at approximately $1,639,320. The disclosure for this sale can be found here. Insiders sold a total of 6,961 shares of company stock worth $244,508 in the last quarter. 0.03% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in 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 worth $1,557,609,000 after buying an additional 956,331 shares in the last quarter. FMR LLC raised its stake in shares of Synchrony Financial by 27.1% in the 2nd quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock valued at $1,102,267,000 after purchasing an additional 7,874,689 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Synchrony Financial by 2.1% in the 3rd quarter. First Eagle Investment Management LLC now owns 17,666,015 shares of the financial services provider’s stock valued at $548,530,000 after purchasing an additional 362,810 shares in the last quarter. Berkshire Hathaway Inc. acquired a new stake in shares of Synchrony Financial in the 2nd quarter valued at about $520,747,000. Finally, CI Investments Inc. raised its stake in shares of Synchrony Financial by 7.5% in the 3rd quarter. CI Investments Inc. now owns 10,960,562 shares of the financial services provider’s stock valued at $340,325,000 after purchasing an additional 766,368 shares in the last quarter. Hedge funds and other institutional investors own 85.77% of the company’s stock.
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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.
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