Travel + Leisure Co. (NYSE:TNL – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $63.31 and last traded at $62.69, with a volume of 62696 shares trading hands. The stock had previously closed at $62.95.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on TNL shares. Morgan Stanley reduced their price target on Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. JMP Securities upped their price objective on Travel + Leisure from $60.00 to $70.00 and gave the company a “market outperform” rating in a research report on Thursday, July 24th. Barclays lifted their target price on Travel + Leisure from $39.00 to $54.00 and gave the stock an “underweight” rating in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of Travel + Leisure from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Mizuho raised shares of Travel + Leisure from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $63.00 to $72.00 in a research note on Thursday, July 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Travel + Leisure has an average rating of “Moderate Buy” and a consensus target price of $62.30.
Get Our Latest Research Report on Travel + Leisure
Travel + Leisure Stock Performance
The company has a market capitalization of $4.08 billion, a P/E ratio of 10.83, a PEG ratio of 0.60 and a beta of 1.38. The company’s fifty day simple moving average is $52.71 and its 200-day simple moving average is $50.64.
Travel + Leisure (NYSE:TNL – Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%. Travel + Leisure’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 EPS. On average, sell-side analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current year.
Travel + Leisure Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.56 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.56%. Travel + Leisure’s dividend payout ratio is presently 38.62%.
Insider Transactions at Travel + Leisure
In related news, insider Jeffrey Myers sold 110,885 shares of the firm’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the sale, the insider owned 142,553 shares of the company’s stock, valued at $8,885,328.49. This trade represents a 43.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Geoffrey Richards sold 124,454 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $62.56, for a total transaction of $7,785,842.24. Following the completion of the transaction, the insider owned 118,718 shares of the company’s stock, valued at $7,426,998.08. This represents a 51.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 323,474 shares of company stock worth $19,908,918. Company insiders own 3.75% of the company’s stock.
Institutional Investors Weigh In On Travel + Leisure
A number of hedge funds and other institutional investors have recently bought and sold shares of TNL. Elequin Capital LP purchased a new position in Travel + Leisure in the first quarter worth $30,000. Natixis purchased a new position in Travel + Leisure during the 4th quarter worth $37,000. Geneos Wealth Management Inc. increased its position in Travel + Leisure by 293.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock valued at $44,000 after buying an additional 715 shares in the last quarter. UMB Bank n.a. increased its position in Travel + Leisure by 54.0% during the 1st quarter. UMB Bank n.a. now owns 1,166 shares of the company’s stock valued at $54,000 after buying an additional 409 shares in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new stake in Travel + Leisure in the first quarter valued at about $54,000. Hedge funds and other institutional investors own 87.54% of the company’s stock.
About Travel + Leisure
Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.
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