Travel + Leisure (NYSE:TNL) Stock Rating Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Travel + Leisure to “Buy” from “Hold.” Analysts overall have a “Moderate Buy” consensus and an average price target of $85.25.
• The company beat quarterly earnings expectations, reporting $2.21 per share versus the $2.05 consensus, while revenue rose 5.5% year over year to $1.10 billion.
• Shares opened at $75.30, within their 12-month range of $60.34 to $81.00; an executive also sold 20,000 shares in August.

Travel + Leisure (NYSE:TNL - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other research firms have also weighed in on TNL. Mizuho set a $108.00 target price on shares of Travel + Leisure in a research note on Wednesday, October 28th. Zacks Research upgraded Travel + Leisure from a "strong sell" rating to a "hold" rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Travel + Leisure from $70.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, October 28th. Susquehanna lowered their price objective on shares of Travel + Leisure from $95.00 to $75.00 and set a "positive" rating for the company in a research report on Thursday, October 15th. Finally, Wells Fargo & Company cut their target price on shares of Travel + Leisure from $92.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday, October 19th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $85.25.

Travel + Leisure Stock Up 0.3%

TNL stock opened at $75.30 on Friday. Travel + Leisure has a 12-month low of $60.34 and a 12-month high of $81.00. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 0.74 and a beta of 1.21. The company has a 50 day moving average of $66.13 and a two-hundred day moving average of $70.56.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its earnings results on Tuesday, October 27th. The company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.16. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 5.66%. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the prior year, the company earned $1.80 earnings per share. The company's quarterly revenue was up 5.5% on a year-over-year basis. On average, research analysts anticipate that Travel + Leisure will post 7.77 EPS for the current year.

Insiders Place Their Bets

In other Travel + Leisure news, CAO Thomas Michael Duncan sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $74.16, for a total value of $1,483,200.00. Following the transaction, the chief accounting officer owned 5,307 shares in the company, valued at approximately $393,567.12. This represents a 79.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.01% of the stock is owned by insiders.

Institutional Trading of Travel + Leisure

Several large investors have recently modified their holdings of TNL. BlackRock Inc. bought a new stake in shares of Travel + Leisure in the second quarter worth $543,957,000. Bank of New York Mellon Corp purchased a new stake in shares of Travel + Leisure during the 2nd quarter worth about $55,087,000. Alyeska Investment Group L.P. purchased a new position in Travel + Leisure during the second quarter worth approximately $35,994,000. Allianz Asset Management GmbH raised its holdings in shares of Travel + Leisure by 3,677.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 301,478 shares of the company's stock valued at $23,042,000 after buying an additional 293,498 shares during the period. Finally, Bank of America Corp DE acquired a new stake in shares of Travel + Leisure during the 2nd quarter worth about $19,663,000. 87.54% of the stock is owned by institutional investors and hedge funds.

About Travel + Leisure

Travel + Leisure Co NYSE: TNL is a hospitality and leisure travel company that operates vacation ownership, exchange, and membership businesses. The company provides travelers with access to resort accommodations, vacation experiences, travel services, and related lifestyle offerings through a portfolio of consumer brands.

Its vacation ownership business includes brands such as Club Wyndham, WorldMark by Wyndham, and Margaritaville Vacation Club, offering members interests in vacation properties and access to resort destinations.

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