Travel + Leisure Co. (NYSE:TNL – Get Free Report)’s share price traded down 5.4% on Thursday . The stock traded as low as $66.25 and last traded at $66.10. 400,124 shares were traded during mid-day trading, a decline of 42% from the average session volume of 686,304 shares. The stock had previously closed at $69.91.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. Barclays upped their target price on Travel + Leisure from $54.00 to $63.00 and gave the company an “underweight” rating in a report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Travel + Leisure in a report on Wednesday, October 8th. The Goldman Sachs Group upped their target price on Travel + Leisure from $61.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday. JMP Securities upped their target price on Travel + Leisure from $70.00 to $80.00 and gave the company a “market outperform” rating in a report on Thursday. Finally, Wall Street Zen lowered Travel + Leisure from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Travel + Leisure currently has an average rating of “Moderate Buy” and an average price target of $69.90.
Read Our Latest Analysis on TNL
Travel + Leisure Stock Down 5.6%
The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 0.59 and a beta of 1.47. The business has a 50 day moving average of $61.28 and a 200 day moving average of $54.43.
Travel + Leisure (NYSE:TNL – Get Free Report) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.08. Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company earned $1.57 earnings per share. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current year.
Travel + Leisure Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, September 12th. Travel + Leisure’s dividend payout ratio (DPR) is presently 38.62%.
Insiders Place Their Bets
In other Travel + Leisure news, insider Geoffrey Richards sold 124,454 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $62.56, for a total value of $7,785,842.24. Following the sale, the insider directly owned 118,718 shares of the company’s stock, valued at approximately $7,426,998.08. This trade represents a 51.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Dean Brown purchased 1,500 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was acquired at an average cost of $58.39 per share, for a total transaction of $87,585.00. Following the completion of the purchase, the insider owned 427,821 shares in the company, valued at $24,980,468.19. The trade was a 0.35% increase in their position. The disclosure for this purchase can be found here. 3.75% of the stock is owned by corporate insiders.
Institutional Trading of Travel + Leisure
A number of hedge funds have recently added to or reduced their stakes in TNL. Norges Bank acquired a new stake in Travel + Leisure in the 2nd quarter worth about $50,934,000. Nuveen LLC purchased a new position in shares of Travel + Leisure in the 1st quarter worth about $41,114,000. AQR Capital Management LLC raised its holdings in shares of Travel + Leisure by 46.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock worth $138,449,000 after purchasing an additional 855,151 shares during the period. LSV Asset Management raised its holdings in shares of Travel + Leisure by 69.0% in the 2nd quarter. LSV Asset Management now owns 1,615,402 shares of the company’s stock worth $83,371,000 after purchasing an additional 659,293 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in shares of Travel + Leisure by 98.4% in the 2nd quarter. Quantinno Capital Management LP now owns 488,307 shares of the company’s stock worth $25,202,000 after purchasing an additional 242,231 shares during the period. 87.54% of the stock is owned by institutional investors and hedge funds.
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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