Travel + Leisure (NYSE:TNL) Stock Rating Cut to Strong Sell at Zacks Research

by · The Markets Daily

Zacks Research lowered shares of Travel + Leisure (NYSE:TNL – Free Report) from a hold rating to a strong sell rating in a report issued on Thursday,Zacks reports.

TNL has been the subject of a number of other research reports. The Goldman Sachs Group reduced their target price on Travel + Leisure from $87.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, October 15th. Citigroup reaffirmed a “market outperform” rating on shares of Travel + Leisure in a research note on Thursday, July 23rd. Morgan Stanley reiterated an “overweight” rating and set a $86.00 price target on shares of Travel + Leisure in a research report on Thursday. Wells Fargo & Company reduced their price objective on Travel + Leisure from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Truist Financial decreased their price objective on Travel + Leisure from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, September 10th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.25.

View Our Latest Analysis on TNL

Travel + Leisure Stock Down 3.6%

TNL opened at $64.88 on Thursday. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 0.69 and a beta of 1.19. Travel + Leisure has a 52-week low of $60.34 and a 52-week high of $81.00. The firm’s fifty day simple moving average is $66.06 and its two-hundred day simple moving average is $70.03.

Travel + Leisure (NYSE:TNL – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.88. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 earnings per share. On average, research analysts forecast that Travel + Leisure will post 7.47 EPS for the current year.

Travel + Leisure Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.7%. The ex-dividend date was Wednesday, September 16th. Travel + Leisure’s dividend payout ratio is presently 65.57%.

Insiders Place Their Bets

In other news, insider Geoffrey Richards sold 33,744 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $75.65, for a total transaction of $2,552,733.60. Following the transaction, the insider owned 1,600 shares of the company’s stock, valued at approximately $121,040. The trade was a 95.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Thomas Michael Duncan sold 20,000 shares of Travel + Leisure stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $74.16, for a total transaction of $1,483,200.00. Following the transaction, the chief accounting officer directly owned 5,307 shares in the company, valued at $393,567.12. This trade represents a 79.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 53,944 shares of company stock valued at $4,051,734 over the last ninety days. Corporate insiders own 4.01% of the company’s stock.

Institutional Investors Weigh In On Travel + Leisure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Bancorp Inc ME acquired a new position in Travel + Leisure in the second quarter valued at $27,000. Elevation Wealth Partners LLC lifted its position in Travel + Leisure by 413.3% in the second quarter. Elevation Wealth Partners LLC now owns 462 shares of the company’s stock valued at $35,000 after purchasing an additional 372 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in shares of Travel + Leisure in the 2nd quarter valued at approximately $46,000. Assetmark Inc. boosted its stake in shares of Travel + Leisure by 43.8% in the first quarter. Assetmark Inc. now owns 627 shares of the company’s stock valued at $43,000 after buying an additional 191 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in Travel + Leisure by 27.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,241 shares of the company’s stock worth $88,000 after acquiring an additional 265 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.

Travel + Leisure Company Profile

(Get Free Report)

Travel + Leisure Co (NYSE:TNL) is a hospitality and leisure travel company that operates vacation ownership, exchange, and membership businesses. The company provides travelers with access to resort accommodations, vacation experiences, travel services, and related lifestyle offerings through a portfolio of consumer brands.

Its vacation ownership business includes brands such as Club Wyndham, WorldMark by Wyndham, and Margaritaville Vacation Club, offering members interests in vacation properties and access to resort destinations.

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