Travel + Leisure (NYSE:TNL – Get Free Report) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “buy” rating in a report released on Monday, Marketbeat reports. The firm currently has a $60.00 price target on the stock, up from their previous price target of $40.00. Bank of America‘s price target would suggest a potential upside of 12.89% from the company’s previous close.
TNL has been the topic of several other research reports. The Goldman Sachs Group upped their price objective on shares of Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. raised their price target on shares of Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Truist Financial boosted their price objective on shares of Travel + Leisure from $60.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Stifel Nicolaus raised their target price on Travel + Leisure from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley started coverage on Travel + Leisure in a report on Monday, January 6th. They issued an “overweight” rating and a $67.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.55.
Read Our Latest Stock Analysis on TNL
Travel + Leisure Price Performance
Shares of NYSE:TNL opened at $53.15 on Monday. The business’s 50-day moving average is $52.64 and its 200 day moving average is $48.22. Travel + Leisure has a 1 year low of $39.66 and a 1 year high of $56.91. The firm has a market capitalization of $3.64 billion, a P/E ratio of 9.02, a P/E/G ratio of 0.68 and a beta of 1.64.
Insiders Place Their Bets
In other news, insider Geoffrey Richards sold 9,400 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.56, for a total transaction of $531,664.00. Following the sale, the insider now directly owns 111,202 shares of the company’s stock, valued at $6,289,585.12. This represents a 7.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 19,016 shares of company stock worth $1,042,863. Corporate insiders own 4.02% of the company’s stock.
Hedge Funds Weigh In On Travel + Leisure
A number of hedge funds have recently bought and sold shares of the business. Barclays PLC raised its position in shares of Travel + Leisure by 80.4% during the 3rd quarter. Barclays PLC now owns 225,326 shares of the company’s stock worth $10,383,000 after purchasing an additional 100,440 shares during the last quarter. Versor Investments LP raised its holdings in shares of Travel + Leisure by 45.4% during the third quarter. Versor Investments LP now owns 40,290 shares of the company’s stock valued at $1,857,000 after acquiring an additional 12,585 shares during the last quarter. FMR LLC lifted its position in shares of Travel + Leisure by 28.5% in the third quarter. FMR LLC now owns 261,599 shares of the company’s stock valued at $12,054,000 after acquiring an additional 58,008 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of Travel + Leisure in the fourth quarter worth approximately $1,288,000. Finally, International Assets Investment Management LLC increased its position in shares of Travel + Leisure by 4,532.8% during the third quarter. International Assets Investment Management LLC now owns 5,374 shares of the company’s stock worth $248,000 after purchasing an additional 5,258 shares in the last quarter. 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.
Further Reading
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