Travel + Leisure (NYSE:TNL) Price Target Raised to $85.00

Key Points

• Morgan Stanley raised Travel + Leisure’s price target to $85 from $83 and maintained an “overweight” rating, implying 15.31% upside from the prior close.
• Analyst sentiment remains positive, with the stock holding an average “Buy” rating and a consensus price target of $87.82; recent targets range from $77 to $107.
• Travel + Leisure matched quarterly EPS estimates at $1.88 and exceeded revenue expectations with $1.06 billion, while insiders sold approximately $7.0 million of stock over the past quarter.

Travel + Leisure (NYSE:TNL - Get Free Report) had its target price lifted by equities researchers at Morgan Stanley from $83.00 to $85.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 15.31% from the company's previous close.

Other research analysts also recently issued reports about the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of Travel + Leisure in a research report on Tuesday, July 21st. Mizuho lifted their price target on shares of Travel + Leisure from $105.00 to $107.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Barclays upped their price objective on Travel + Leisure from $74.00 to $77.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Susquehanna initiated coverage on Travel + Leisure in a report on Tuesday. They set a "positive" rating and a $95.00 price objective for the company. Finally, Wall Street Zen downgraded Travel + Leisure from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $87.82.

Travel + Leisure Stock Performance

Shares of NYSE:TNL opened at $73.71 on Tuesday. The company has a market capitalization of $4.51 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 0.51 and a beta of 1.17. The company's 50-day moving average is $75.22 and its 200 day moving average is $72.07. Travel + Leisure has a fifty-two week low of $57.86 and a fifty-two week high of $81.00.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.88. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.65 earnings per share. As a group, research analysts predict that Travel + Leisure will post 7.68 earnings per share for the current year.

Insider Activity

In other news, Director George Herrera sold 500 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total value of $37,580.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Geoffrey Richards sold 33,744 shares of the company's stock in a transaction that occurred on 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 sale, the insider owned 1,600 shares in the company, valued at $121,040. The trade was a 95.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 95,135 shares of company stock valued at $7,022,699 over the last quarter. Company insiders own 4.01% of the company's stock.

Institutional Investors Weigh In On Travel + Leisure

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Bancorp Inc ME bought a new stake in shares of Travel + Leisure during the 2nd quarter valued at $27,000. Danske Bank A S bought a new position in Travel + Leisure in the 3rd quarter worth about $30,000. Elevation Wealth Partners LLC boosted its stake in 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 during the period. N.E.W. Advisory Services LLC purchased a new position in Travel + Leisure during the 4th quarter valued at about $43,000. Finally, Assetmark Inc. grew its holdings in Travel + Leisure by 43.8% during the 1st quarter. Assetmark Inc. now owns 627 shares of the company's stock valued at $43,000 after buying an additional 191 shares in the last quarter. Institutional investors own 87.54% of the company's stock.

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.

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