No, I don't think the ratings are synced. I rate them when I am finished as well. I just checked the last book I finished on one of my other devices, and the rating hasn't synced to it. The reading status has but the rating hasn't. Because of that, I would not expect the rating to restored after a factory reset.
It is possible that if you review the book, the status will be saved. I never do that, so I don't know.
If you are a calibre user, my Kobo Utilities plugin can fetch the reading status and rating from the books on the device to the library. This can also be restored to the device if needed. I don't normally restore this for purchased books as it will sync, but, restoring the rating should work.
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