Travel + Leisure Co. (NYSE:TNL) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Travel + Leisure has a “Moderate Buy” consensus rating: Eleven of 13 covering brokerages recommend buying the stock, with an average 12-month price target of $89.18 versus a recent price of $63.21.
• The company’s latest quarterly results met expectations, with earnings of $1.88 per share and revenue of $1.06 billion, up 4.4% year over year. It also announced a quarterly dividend of $0.60 per share, representing a 3.8% annualized yield.
• Institutional investors own 87.54% of the stock, while insiders sold 86,635 shares worth approximately $6.5 million over the past 90 days.

Travel + Leisure Co. (NYSE:TNL - Get Free Report) has earned a consensus rating of "Moderate Buy" from the thirteen brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $89.1818.

A number of analysts have recently weighed in on TNL shares. Susquehanna began coverage on shares of Travel + Leisure in a research note on Tuesday, August 18th. They issued a "positive" rating and a $95.00 price objective for the company. Wells Fargo & Company boosted their price objective on Travel + Leisure from $87.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Zacks Research downgraded Travel + Leisure from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 19th. Barclays raised their target price on Travel + Leisure from $74.00 to $77.00 and gave the company an "equal weight" rating in a report on Thursday, July 23rd. Finally, The Goldman Sachs Group raised Travel + Leisure from a "neutral" rating to a "buy" rating and set a $85.00 price target on the stock in a research report on Monday, June 1st.

Travel + Leisure Stock Performance

Shares of NYSE TNL opened at $63.21 on Friday. The business's 50-day simple moving average is $71.83 and its 200-day simple moving average is $71.29. Travel + Leisure has a 52 week low of $58.07 and a 52 week high of $81.00. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 0.43 and a beta of 1.15.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its earnings results 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 during the quarter, compared to analyst estimates of $1.04 billion. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The company's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 EPS. As a group, equities research analysts forecast that Travel + Leisure will post 7.7 earnings per share for the current year.

Travel + Leisure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.40 dividend on an annualized basis and a yield of 3.8%. Travel + Leisure's payout ratio is 65.57%.

Insider Activity 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 transaction, the chief accounting officer owned 5,307 shares of the company's stock, valued at approximately $393,567.12. This represents a 79.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geoffrey Richards sold 33,744 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $75.65, for a total transaction of $2,552,733.60. Following the completion of the sale, the insider owned 1,600 shares of the company's stock, valued at approximately $121,040. The trade was a 95.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 86,635 shares of company stock worth $6,503,559 in the last ninety days. 4.01% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Travel + Leisure

Several large investors have recently added to or reduced their stakes in TNL. BlackRock Inc. bought a new stake in shares of Travel + Leisure in the 2nd quarter worth approximately $543,957,000. LSV Asset Management raised its stake in shares of Travel + Leisure by 1.1% in the fourth quarter. LSV Asset Management now owns 1,612,657 shares of the company's stock valued at $113,741,000 after purchasing an additional 17,377 shares in the last quarter. Quantinno Capital Management LP lifted its position in Travel + Leisure by 21.7% in the first quarter. Quantinno Capital Management LP now owns 1,305,515 shares of the company's stock worth $90,329,000 after purchasing an additional 232,711 shares during the period. Geode Capital Management LLC lifted its position in Travel + Leisure by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,208,918 shares of the company's stock worth $85,281,000 after purchasing an additional 10,137 shares during the period. Finally, Norges Bank acquired a new stake in Travel + Leisure during the fourth quarter worth $62,162,000. Institutional investors and hedge funds own 87.54% of the company's stock.

Travel + Leisure Company Profile

Travel + Leisure Co NYSE: TNL is a hospitality and leisure company focused primarily on vacation ownership, membership, and travel services. The company develops, sells, and manages vacation ownership interests and related travel products through brands that include Club Wyndham, WorldMark by Wyndham, Margaritaville Vacation Club, and Travel + Leisure Co vacation ownership offerings.

The company also operates RCI, a vacation exchange network that enables members of affiliated vacation ownership programs to exchange accommodations in destinations around the world.

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