Travel + Leisure (NYSE:TNL) Now Covered by JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage of Travel + Leisure with a neutral rating and a $70 price target, implying approximately 11.2% upside from the stock’s $62.95 opening price.
• Analyst sentiment remains broadly positive, with 11 Buy ratings and three Holds; the consensus rating is “Moderate Buy” with an average price target of $87.58.
• Travel + Leisure met quarterly EPS expectations at $1.88 and exceeded revenue expectations with $1.06 billion, while insiders have sold 86,635 shares worth approximately $6.5 million over the past 90 days.

Analysts at JPMorgan Chase & Co. started coverage on shares of Travel + Leisure (NYSE:TNL - Get Free Report) in a report issued on Thursday, Briefing.com reports. The firm set a "neutral" rating and a $70.00 price target on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 11.19% from the company's current price.

A number of other research analysts also recently issued reports on the company. Zacks Research downgraded Travel + Leisure from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th. Mizuho boosted their target price on Travel + Leisure from $105.00 to $107.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Wells Fargo & Company upped their target price on shares of Travel + Leisure from $87.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Susquehanna started coverage on shares of Travel + Leisure in a report on Tuesday, August 18th. They set a "positive" rating and a $95.00 price target on the stock. Finally, Truist Financial reduced their price target on shares of Travel + Leisure from $88.00 to $86.00 and set a "buy" rating for the company in a research note on Thursday, September 10th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $87.58.

Travel + Leisure Stock Up 0.2%

Shares of TNL opened at $62.95 on Thursday. Travel + Leisure has a twelve month low of $58.07 and a twelve month high of $81.00. The company has a market capitalization of $3.85 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 0.63 and a beta of 1.19. The firm has a 50 day moving average of $68.78 and a 200 day moving average of $70.49.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.88. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 EPS. On average, sell-side analysts expect that Travel + Leisure will post 7.63 EPS for the current year.

Insider Buying and Selling at Travel + Leisure

In other news, CAO Thomas Michael Duncan sold 20,000 shares of the company's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $74.16, for a total transaction of $1,483,200.00. Following the completion of the sale, the chief accounting officer owned 5,307 shares of the company's stock, valued at $393,567.12. This represents a 79.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Geoffrey Richards sold 33,744 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $75.65, for a total transaction of $2,552,733.60. Following the completion of the transaction, the insider owned 1,600 shares in the company, valued at $121,040. This trade represents a 95.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 86,635 shares of company stock valued at $6,503,559. 4.01% of the stock is owned by company insiders.

Institutional Trading of Travel + Leisure

Several large investors have recently added to or reduced their stakes in TNL. First Bancorp Inc ME purchased a new position in shares of Travel + Leisure during the 2nd quarter worth $27,000. Elevation Wealth Partners LLC increased its stake in shares of Travel + Leisure by 413.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 462 shares of the company's stock worth $35,000 after purchasing an additional 372 shares in the last quarter. Assetmark Inc. raised its holdings in Travel + Leisure by 43.8% in the 1st quarter. Assetmark Inc. now owns 627 shares of the company's stock worth $43,000 after purchasing an additional 191 shares during the period. N.E.W. Advisory Services LLC purchased a new position in Travel + Leisure during the second quarter valued at $46,000. Finally, Rockefeller Capital Management L.P. lifted its position in Travel + Leisure by 27.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,241 shares of the company's stock valued at $88,000 after purchasing an additional 265 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors.

Travel + Leisure Company Profile

Travel + Leisure Co NYSE: TNL is a global hospitality and leisure company focused primarily on vacation ownership, membership, and travel services. Its portfolio includes vacation-ownership programs and resorts operated under brands such as Club Wyndham, WorldMark by Wyndham, Margaritaville Vacation Club, and other affiliated offerings. These programs provide members with access to vacation accommodations, resort stays, and travel-related benefits.

The company also operates travel-exchange and membership businesses that enable customers to exchange timeshare interests, arrange accommodations, and access travel experiences.

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