Vail Resorts (NYSE:MTN) Stock Price Down 3.6% After Analyst Downgrade

Vail Resorts, Inc. (NYSE:MTN - Get Free Report)'s share price traded down 3.6% during trading on Friday after Truist Financial lowered their price target on the stock from $247.00 to $244.00. Truist Financial currently has a buy rating on the stock. Vail Resorts traded as low as $147.53 and last traded at $149.39. 296,019 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 579,899 shares. The stock had previously closed at $154.90.

Other research analysts also recently issued research reports about the stock. Bank of America increased their price target on shares of Vail Resorts from $160.00 to $175.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Vail Resorts from $183.00 to $171.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. JPMorgan Chase & Co. upgraded shares of Vail Resorts from an "underweight" rating to a "neutral" rating and set a $167.00 target price on the stock in a report on Wednesday, May 28th. Macquarie reduced their price target on Vail Resorts from $195.00 to $185.00 and set a "neutral" rating for the company in a research report on Wednesday, March 12th. Finally, Morgan Stanley set a $152.00 target price on shares of Vail Resorts in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $188.80.

Insider Activity at Vail Resorts

In related news, CFO Angela A. Korch bought 185 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $160.00 per share, with a total value of $29,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,956 shares in the company, valued at approximately $472,960. The trade was a 6.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is owned by insiders.

Institutional Trading of Vail Resorts

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Vail Resorts in the fourth quarter valued at approximately $80,669,000. Point72 Asset Management L.P. boosted its stake in Vail Resorts by 170.1% during the fourth quarter. Point72 Asset Management L.P. now owns 546,423 shares of the company's stock worth $102,427,000 after buying an additional 344,095 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Vail Resorts by 42.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 976,468 shares of the company's stock valued at $183,039,000 after purchasing an additional 289,484 shares during the period. First Pacific Advisors LP increased its holdings in shares of Vail Resorts by 54.2% during the 1st quarter. First Pacific Advisors LP now owns 805,584 shares of the company's stock worth $128,910,000 after buying an additional 283,299 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in Vail Resorts during the fourth quarter worth $42,532,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Vail Resorts Stock Down 3.0%

The business has a 50-day moving average of $145.63 and a 200-day moving average of $163.67. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 1.93 and a beta of 0.91. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.51 and a current ratio of 0.63.

Vail Resorts (NYSE:MTN - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $10.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.00 by $0.54. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. Vail Resorts had a return on equity of 21.90% and a net margin of 8.07%. Vail Resorts's revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.54 EPS. On average, sell-side analysts expect that Vail Resorts, Inc. will post 7.62 EPS for the current year.

Vail Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 24th will be given a $2.22 dividend. This represents a $8.88 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date is Tuesday, June 24th. Vail Resorts's dividend payout ratio is currently 130.21%.

Vail Resorts Company Profile

Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and regional ski areas in the United States. It operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 41 destination mountain resorts and regional ski areas. This segment is also involved in the ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities.