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

Synchrony Financial (NYSE:SYF - Get Free Report)'s stock had its "equal weight" rating restated by Morgan Stanley in a note issued to investors on Monday, MarketBeat.com reports. They currently 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 price objective would indicate a potential downside of 4.56% from the stock's previous close.

Several other research firms have also recently issued reports on SYF. JPMorgan Chase & Co. upgraded Synchrony Financial from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $59.00 to $72.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods boosted their price target on Synchrony Financial from $62.00 to $82.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. StockNews.com lowered shares of Synchrony Financial from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Royal Bank of Canada raised their price target on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a "sector perform" rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company dropped their price objective on shares of Synchrony Financial from $85.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $65.11.

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Synchrony Financial Price Performance

Shares of Synchrony Financial stock traded down $0.53 on Monday, reaching $46.10. The company's stock had a trading volume of 6,550,656 shares, compared to its average volume of 3,960,140. Synchrony Financial has a 52-week low of $39.67 and a 52-week high of $70.93. The company has a market capitalization of $17.92 billion, a P/E ratio of 5.40, a PEG ratio of 0.71 and a beta of 1.45. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average price of $56.20 and a 200-day moving average price of $60.41.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share 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%. Analysts expect that Synchrony Financial will post 7.67 EPS for the current year.

Hedge Funds Weigh In On Synchrony Financial

Hedge funds have recently made changes to their positions in the stock. Bogart Wealth LLC purchased a new position in shares of Synchrony Financial during the fourth quarter worth $26,000. TCTC Holdings LLC acquired a new position in Synchrony Financial during the 4th quarter worth about $27,000. Y.D. More Investments Ltd grew its position 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 in the last quarter. Accredited Wealth Management LLC acquired a new position in Synchrony Financial in the 4th quarter valued at about $38,000. Finally, Quarry LP increased its stake in 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 period. Hedge funds and other institutional investors own 96.48% of the company's stock.

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.