Analysts Set Travel + Leisure Co. (NYSE:TNL) Price Target at $62.30

Shares of Travel + Leisure Co. (NYSE:TNL) have received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $62.30.

A number of equities analysts have weighed in on TNL shares. Mizuho raised Travel + Leisure from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $63.00 to $72.00 in a research report on Thursday, July 24th. Barclays boosted their price objective on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an “underweight” rating in a research report on Thursday, July 24th. Morgan Stanley decreased their target price on shares of Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. JMP Securities lifted their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a “market outperform” rating in a research note on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of Travel + Leisure from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th.

Insiders Place Their Bets

In related news, CAO Thomas Michael Duncan sold 8,201 shares of the business’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.24, for a total transaction of $510,430.24. Following the transaction, the chief accounting officer directly owned 20,000 shares of the company’s stock, valued at approximately $1,244,800. The trade was a 29.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George Herrera sold 2,200 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $60.48, for a total value of $133,056.00. Following the sale, the director directly owned 559 shares of the company’s stock, valued at $33,808.32. This represents a 79.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 320,174 shares of company stock worth $19,765,874 in the last three months. Insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its position in shares of Travel + Leisure by 46.8% in the second quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock valued at $138,449,000 after acquiring an additional 855,151 shares during the period. LSV Asset Management raised its stake in 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 in the last quarter. Northern Trust Corp boosted its holdings in Travel + Leisure by 3.3% in the 1st quarter. Northern Trust Corp now owns 1,071,318 shares of the company’s stock valued at $49,591,000 after purchasing an additional 34,615 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Travel + Leisure by 8.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company’s stock worth $46,039,000 after purchasing an additional 79,430 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Travel + Leisure during the second quarter worth approximately $50,934,000. 87.54% of the stock is owned by institutional investors.

Travel + Leisure Stock Down 0.9%

Shares of NYSE:TNL opened at $60.15 on Friday. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 0.58 and a beta of 1.43. Travel + Leisure has a 12 month low of $37.77 and a 12 month high of $63.31. The company’s fifty day simple moving average is $55.86 and its 200 day simple moving average is $51.32.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 earnings per share. Research analysts expect that Travel + Leisure will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, September 12th. Travel + Leisure’s dividend payout ratio is presently 38.62%.

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.