Travel + Leisure (NYSE:TNL) Price Target Lowered to $44.00 at The Goldman Sachs Group

Travel + Leisure (NYSE:TNL) had its target price reduced by The Goldman Sachs Group from $62.00 to $44.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also weighed in on TNL. Bank of America raised Travel + Leisure from an “underperform” rating to a “buy” rating and increased their target price for the stock from $40.00 to $60.00 in a research report on Monday, January 27th. Morgan Stanley started coverage on Travel + Leisure in a research note on Monday, January 6th. They issued an “overweight” rating and a $67.00 price objective on the stock. Barclays increased their target price on shares of Travel + Leisure from $48.00 to $54.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Truist Financial lifted their price target on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Finally, Mizuho reissued a “neutral” rating and issued a $64.00 target price (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Travel + Leisure presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.20.

Travel + Leisure Stock Down 0.4 %

Shares of NYSE:TNL opened at $41.44 on Monday. The company has a market cap of $2.76 billion, a P/E ratio of 7.10, a P/E/G ratio of 0.67 and a beta of 1.40. The business has a fifty day simple moving average of $49.98 and a 200-day simple moving average of $50.80. Travel + Leisure has a 52 week low of $37.77 and a 52 week high of $58.95.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.68 by $0.04. The company had revenue of $971.00 million during the quarter, compared to analysts’ expectations of $958.87 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.98 EPS. Sell-side analysts expect that Travel + Leisure will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.56 per share. The ex-dividend date was Monday, March 17th. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a dividend yield of 5.41%. Travel + Leisure’s dividend payout ratio (DPR) is currently 38.36%.

Insider Buying and Selling

In other Travel + Leisure news, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total transaction of $296,524.80. Following the sale, the director now directly owns 2,759 shares in the company, valued at $129,121.20. The trade was a 69.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Dean Brown bought 2,000 shares of Travel + Leisure stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $46.66 per share, with a total value of $93,320.00. Following the completion of the purchase, the insider now owns 408,706 shares in the company, valued at approximately $19,070,221.96. The trade was a 0.49 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp bought a new stake in Travel + Leisure in the fourth quarter valued at about $25,000. Versant Capital Management Inc increased its holdings in shares of Travel + Leisure by 49.2% in the 4th quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock valued at $32,000 after acquiring an additional 210 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Travel + Leisure by 314.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company’s stock valued at $33,000 after acquiring an additional 503 shares in the last quarter. Natixis bought a new position in Travel + Leisure during the fourth quarter worth $37,000. Finally, UMB Bank n.a. lifted its stake in Travel + Leisure by 36.9% during the fourth quarter. UMB Bank n.a. now owns 757 shares of the company’s stock worth $38,000 after purchasing an additional 204 shares during the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

Travel + Leisure Company Profile

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.