Travel + Leisure (NYSE:TNL) Rating Increased to Buy at Wall Street Zen

Key Points

• Travel + Leisure has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, a move reflecting optimistic sentiment towards the stock's performance.
• Multiple analysts have differing target price adjustments for the stock, with Goldman Sachs lowering its target from $62 to $44, while JMP Securities raised its target from $60 to $70.
• The company reported earnings per share (EPS) of $1.65 for the last quarter, slightly missing the consensus estimate, but showing a 3.4% increase in revenue year-over-year.

Wall Street Zen upgraded shares of Travel + Leisure (NYSE:TNL - Free Report) from a hold rating to a buy rating in a research report released on Saturday.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group reduced their price objective on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Barclays increased their target price on Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a research report on Thursday, July 24th. Morgan Stanley dropped their target price 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. Mizuho raised Travel + Leisure from a "neutral" rating to an "outperform" rating and increased their target price for the company from $63.00 to $72.00 in a research report on Thursday, July 24th. Finally, JMP Securities increased their target price on Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Travel + Leisure has an average rating of "Moderate Buy" and a consensus price target of $62.30.

Travel + Leisure Stock Performance

TNL traded down $0.33 during trading on Friday, hitting $62.62. 625,321 shares of the stock were exchanged, compared to its average volume of 749,654. The firm has a 50 day simple moving average of $52.97 and a 200 day simple moving average of $50.72. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 0.60 and a beta of 1.38. Travel + Leisure has a 1 year low of $37.77 and a 1 year high of $63.31.

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

Travel + Leisure Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $0.56 dividend. The ex-dividend date was Friday, June 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.58%. Travel + Leisure's payout ratio is 38.62%.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, CAO Thomas Michael Duncan sold 8,201 shares of Travel + Leisure stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $62.24, for a total transaction of $510,430.24. Following the completion of the sale, the chief accounting officer owned 20,000 shares of the company's stock, valued at approximately $1,244,800. The trade was a 29.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kimberly Marshall sold 16,500 shares of Travel + Leisure stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $60.00, for a total value of $990,000.00. Following the sale, the insider directly owned 56,736 shares of the company's stock, valued at approximately $3,404,160. This represents a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 323,474 shares of company stock worth $19,908,918 in the last quarter. 3.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Travel + Leisure

Several institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. raised its holdings in Travel + Leisure by 4.8% in the 4th quarter. Invesco Ltd. now owns 3,544,548 shares of the company's stock worth $178,822,000 after purchasing an additional 163,804 shares during the period. AQR Capital Management LLC raised its holdings in Travel + Leisure by 28.3% in the 1st quarter. AQR Capital Management LLC now owns 1,827,453 shares of the company's stock worth $83,241,000 after purchasing an additional 403,418 shares during the period. Northern Trust Corp raised its holdings in Travel + Leisure by 3.3% in the 1st quarter. Northern Trust Corp now owns 1,071,318 shares of the company's stock worth $49,591,000 after purchasing an additional 34,615 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Travel + Leisure by 8.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company's stock worth $46,039,000 after purchasing an additional 79,430 shares during the period. Finally, LSV Asset Management increased its stake in Travel + Leisure by 37.7% during the 1st quarter. LSV Asset Management now owns 956,109 shares of the company's stock worth $44,258,000 after buying an additional 261,528 shares in the last quarter. Institutional investors and hedge funds 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.