Travel + Leisure (NYSE:TNL) Sets New 12-Month High - Time to Buy?

Travel + Leisure Co. (NYSE:TNL - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $61.73 and last traded at $60.91, with a volume of 373218 shares trading hands. The stock had previously closed at $57.85.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TNL. The Goldman Sachs Group lowered their price objective on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Morgan Stanley lowered their price objective on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Barclays lifted their price objective on Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a research report on Thursday. Mizuho raised Travel + Leisure from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $63.00 to $72.00 in a research report on Thursday. Finally, JMP Securities lifted their price objective on Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $62.27.

Travel + Leisure Stock Performance

The stock has a fifty day moving average of $52.01 and a 200 day moving average of $50.40. The company has a market capitalization of $4.15 billion, a PE ratio of 10.78, a PEG ratio of 0.60 and a beta of 1.38.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm earned $1.52 EPS. The business's revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Friday, June 13th. Travel + Leisure's payout ratio is 37.40%.

Insiders Place Their Bets

In other news, insider Jeffrey Myers sold 110,885 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the transaction, the insider owned 142,553 shares of the company's stock, valued at approximately $8,885,328.49. The trade was a 43.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Thomas Michael Duncan sold 8,201 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $62.24, for a total value of $510,430.24. Following the transaction, the chief accounting officer directly owned 20,000 shares in the company, valued at approximately $1,244,800. This represents a 29.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,020 shares of company stock worth $12,123,076. Insiders own 3.75% of the company's stock.

Hedge Funds Weigh In On Travel + Leisure

Several large investors have recently modified their holdings of TNL. Raymond James Financial Inc. bought a new position in shares of Travel + Leisure during the 4th quarter valued at approximately $3,850,000. HighTower Advisors LLC increased its position in shares of Travel + Leisure by 3.2% during the 4th quarter. HighTower Advisors LLC now owns 9,982 shares of the company's stock valued at $504,000 after purchasing an additional 314 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Travel + Leisure by 31.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 5,906 shares of the company's stock valued at $298,000 after purchasing an additional 1,397 shares during the last quarter. Xponance Inc. increased its position in shares of Travel + Leisure by 4.0% during the 4th quarter. Xponance Inc. now owns 7,720 shares of the company's stock valued at $389,000 after purchasing an additional 294 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Travel + Leisure by 25.2% during the 4th quarter. Teacher Retirement System of Texas now owns 33,102 shares of the company's stock valued at $1,670,000 after purchasing an additional 6,663 shares during the last quarter. Institutional investors own 87.54% of the company's stock.

Travel + Leisure Company Profile

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.