Truist Financial Cuts Vail Resorts (NYSE:MTN) Price Target to $212.00

Key Points

• Truist Financial trimmed its price target on Vail Resorts from $217 to $212 but maintained a "buy" rating, implying a potential 71.27% upside from the current price.
• Several other analysts have cut targets and the consensus is a Hold with an average target of $161.82; shares fell about 4.9% to $123.78 after Vail missed quarterly EPS and revenue, hurt by a warm winter.
• CEO Robert A. Katz bought 37,500 shares at roughly $131.81 on March 16, increasing his stake by 15.13%, signaling insider confidence despite analyst downgrades.

Vail Resorts (NYSE:MTN - Get Free Report) had its price objective reduced by Truist Financial from $217.00 to $212.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price objective indicates a potential upside of 71.27% from the company's current price.

A number of other research analysts also recently commented on the company. Barclays lowered their target price on Vail Resorts from $140.00 to $138.00 and set an "underweight" rating on the stock in a research note on Tuesday, March 10th. Morgan Stanley reduced their price target on Vail Resorts from $151.00 to $147.00 and set an "equal weight" rating for the company in a report on Thursday, March 12th. Mizuho lowered their price target on Vail Resorts from $202.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, March 10th. JPMorgan Chase & Co. cut their price objective on shares of Vail Resorts from $172.00 to $156.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 10th. Finally, Wall Street Zen downgraded shares of Vail Resorts from a "hold" rating to a "sell" rating in a research report on Saturday, January 10th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Vail Resorts has an average rating of "Hold" and an average target price of $161.82.

Vail Resorts Stock Down 4.9%

Shares of Vail Resorts stock traded down $6.36 during midday trading on Thursday, hitting $123.78. The company's stock had a trading volume of 405,679 shares, compared to its average volume of 870,430. Vail Resorts has a 1-year low of $123.52 and a 1-year high of $175.51. The company has a quick ratio of 0.51, a current ratio of 0.62 and a debt-to-equity ratio of 4.43. The firm has a market capitalization of $4.41 billion, a P/E ratio of 20.19, a PEG ratio of 9.58 and a beta of 0.79. The stock has a 50-day simple moving average of $133.92 and a 200-day simple moving average of $140.19.

Vail Resorts (NYSE:MTN - Get Free Report) last announced its quarterly earnings data on Monday, March 9th. The company reported $5.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.06 by ($0.19). Vail Resorts had a return on equity of 29.72% and a net margin of 7.89%.The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the company posted $6.56 earnings per share. The firm's revenue was down 4.7% on a year-over-year basis. As a group, sell-side analysts expect that Vail Resorts will post 5.09 earnings per share for the current year.

Insider Activity

In other news, CEO Robert A. Katz bought 37,500 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was acquired at an average cost of $131.81 per share, for a total transaction of $4,942,875.00. Following the completion of the purchase, the chief executive officer owned 285,312 shares of the company's stock, valued at $37,606,974.72. This trade represents a 15.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Angela A. Korch purchased 190 shares of the firm's stock in a transaction on Monday, March 16th. The shares were acquired at an average price of $131.85 per share, for a total transaction of $25,051.50. Following the purchase, the chief financial officer directly owned 5,539 shares of the company's stock, valued at approximately $730,317.15. This represents a 3.55% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vail Resorts

A number of institutional investors have recently added to or reduced their stakes in MTN. Clearstead Advisors LLC raised its holdings in shares of Vail Resorts by 21.5% in the 4th quarter. Clearstead Advisors LLC now owns 424 shares of the company's stock worth $56,000 after buying an additional 75 shares in the last quarter. Comerica Bank grew its position in Vail Resorts by 0.4% in the third quarter. Comerica Bank now owns 17,552 shares of the company's stock valued at $2,625,000 after acquiring an additional 78 shares during the period. Xponance Inc. raised its stake in Vail Resorts by 1.2% during the third quarter. Xponance Inc. now owns 6,903 shares of the company's stock worth $1,032,000 after acquiring an additional 82 shares in the last quarter. Provident Investment Management Inc. lifted its holdings in shares of Vail Resorts by 1.6% during the third quarter. Provident Investment Management Inc. now owns 5,821 shares of the company's stock valued at $871,000 after acquiring an additional 90 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of Vail Resorts by 0.9% in the 3rd quarter. Arizona State Retirement System now owns 10,993 shares of the company's stock valued at $1,644,000 after purchasing an additional 97 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Vail Resorts Company Profile

Vail Resorts, Inc is a leading mountain resort company that owns and operates an integrated network of ski areas, hotels, restaurants and retail outlets. The company's signature Epic Pass program offers skiers and snowboarders season‐long access to its portfolio of resorts, while ancillary services such as ski and snowboard schools, equipment rental and retail drive additional revenue.

Headquartered in Broomfield, Colorado, Vail Resorts was formed in 1997, building on the legacy of Vail Associates, which opened the Vail ski area in 1962.

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