Travel + Leisure (NYSE:TNL) Price Target Raised to $85.00
by Amy Steele · The Cerbat GemTravel + Leisure (NYSE:TNL – Free Report) had its target price lifted by Morgan Stanley from $83.00 to $85.00 in a report issued on Tuesday, MarketBeat reports. The brokerage currently has an overweight rating on the stock.
A number of other brokerages have also recently weighed in on TNL. Mizuho lifted their target price on Travel + Leisure from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Travel + Leisure in a research note on Tuesday, July 21st. Wells Fargo & Company raised their price objective on Travel + Leisure from $87.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Wall Street Zen lowered Travel + Leisure from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, The Goldman Sachs Group upgraded Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Travel + Leisure has a consensus rating of “Buy” and an average price target of $87.82.
Check Out Our Latest Stock Analysis on TNL
Travel + Leisure Stock Down 3.3%
NYSE:TNL opened at $70.59 on Tuesday. The company has a market cap of $4.32 billion, a P/E ratio of 19.29, a P/E/G ratio of 0.50 and a beta of 1.17. The firm’s 50 day moving average is $75.20 and its two-hundred day moving average is $72.12. Travel + Leisure has a fifty-two week low of $57.86 and a fifty-two week high of $81.00.
Travel + Leisure (NYSE:TNL – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.88. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.65 EPS. Research analysts forecast that Travel + Leisure will post 7.66 earnings per share for the current fiscal year.
Travel + Leisure Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 16th. Travel + Leisure’s dividend payout ratio is 65.57%.
Insider Buying and Selling
In other Travel + Leisure news, insider Kimberly Marshall sold 32,691 shares of the business’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $75.00, for a total transaction of $2,451,825.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George Herrera sold 500 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the transaction, the director owned 1,353 shares in the company, valued at approximately $101,691.48. This represents a 26.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 95,135 shares of company stock valued at $7,022,699. Company insiders own 4.01% of the company’s stock.
Hedge Funds Weigh In On Travel + Leisure
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in Travel + Leisure by 42.0% in the first quarter. Royal Bank of Canada now owns 91,184 shares of the company’s stock valued at $4,222,000 after acquiring an additional 26,965 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Travel + Leisure during the first quarter valued at approximately $396,000. Millennium Management LLC lifted its position in shares of Travel + Leisure by 129.5% during the first quarter. Millennium Management LLC now owns 413,505 shares of the company’s stock worth $19,141,000 after purchasing an additional 233,345 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Travel + Leisure by 97.1% during the first quarter. Goldman Sachs Group Inc. now owns 200,286 shares of the company’s stock worth $9,271,000 after purchasing an additional 98,647 shares in the last quarter. Finally, United Services Automobile Association purchased a new position in shares of Travel + Leisure in the first quarter valued at $206,000. Hedge funds and other institutional investors own 87.54% of the company’s stock.
About Travel + Leisure
Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.
In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.
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