Travel + Leisure (NYSE:TNL) Given New $107.00 Price Target at Mizuho

Travel + Leisure (NYSE:TNL) had its price objective lifted by Mizuho from $105.00 to $107.00 in a research report sent to investors on Thursday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other brokerages have also recently commented on TNL. The Goldman Sachs Group raised shares of Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a report on Monday, June 1st. Morgan Stanley lifted their price target on shares of Travel + Leisure from $78.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Zacks Research raised shares of Travel + Leisure from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Wall Street Zen downgraded shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Barclays upped their price objective on Travel + Leisure from $74.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Travel + Leisure presently has an average rating of “Buy” and an average price target of $86.90.

Travel + Leisure Stock Down 2.8%

Travel + Leisure stock opened at $73.46 on Thursday. Travel + Leisure has a 52-week low of $56.66 and a 52-week high of $81.00. The company has a market cap of $4.59 billion, a P/E ratio of 20.07, a P/E/G ratio of 0.57 and a beta of 1.16. The business has a 50-day simple moving average of $72.30 and a two-hundred day simple moving average of $71.69.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, hitting the consensus estimate of $1.88. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.65 EPS. Research analysts anticipate that Travel + Leisure will post 7.53 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 12th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, June 12th. Travel + Leisure’s dividend payout ratio is currently 67.42%.

Insider Buying and Selling

In other Travel + Leisure news, Director George Herrera sold 500 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $37,580.00. Following the transaction, the director owned 1,353 shares of the company’s stock, valued at $101,691.48. The trade was a 26.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Denny Marie Post sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $63.83, for a total transaction of $159,575.00. Following the completion of the transaction, the director owned 1,977 shares of the company’s stock, valued at approximately $126,191.91. The trade was a 55.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 31,000 shares of company stock valued at $2,161,915. 4.01% of the stock is owned by corporate insiders.

Institutional Trading of Travel + Leisure

Several institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in Travel + Leisure by 42.0% in the 1st quarter. Royal Bank of Canada now owns 91,184 shares of the company’s stock worth $4,222,000 after buying an additional 26,965 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Travel + Leisure during the first quarter valued at about $396,000. Millennium Management LLC lifted its position in shares of Travel + Leisure by 129.5% in the first quarter. Millennium Management LLC now owns 413,505 shares of the company’s stock valued at $19,141,000 after acquiring an additional 233,345 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Travel + Leisure by 97.1% in the first quarter. Goldman Sachs Group Inc. now owns 200,286 shares of the company’s stock valued at $9,271,000 after acquiring an additional 98,647 shares in the last quarter. Finally, United Services Automobile Association bought a new position in shares of Travel + Leisure in the first quarter worth about $206,000. 87.54% of the stock is currently owned by institutional investors.

Travel + Leisure News Roundup

Here are the key news stories impacting Travel + Leisure this week:

• Positive Sentiment: Mizuho raised its price target on Travel + Leisure Co. from $105 to $107 and reiterated an outperform rating, signaling strong confidence in further upside. Benzinga
• Positive Sentiment: Wells Fargo increased its target from $87 to $92 and kept an overweight rating, reflecting a positive view on the company’s outlook after earnings. Tickerreport.com
• Positive Sentiment: Zacks Research upgraded the stock from hold to strong-buy, adding to the bullish analyst momentum around TNL. Zacks.com
• Positive Sentiment: Travel + Leisure raised its full-year outlook after reporting Q2 revenue of $1.06 billion and adjusted EPS of $1.88, with revenue topping estimates and gross VOI sales up 4% year over year. Business Wire
• Neutral Sentiment: The company’s adjusted EPS matched consensus at $1.88, while reported EPS of $1.72 and headline earnings came in below some estimates, creating a mixed reaction from investors. Zacks.com

Travel + Leisure Company Profile

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.