JPMorgan Chase & Co. Upgrades Vail Resorts (NYSE:MTN) to "Neutral"

Vail Resorts (NYSE:MTN - Get Free Report) was upgraded by equities researchers at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $167.00 price objective on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 4.19% from the company's current price.

Several other brokerages have also issued reports on MTN. Morgan Stanley set a $152.00 target price on shares of Vail Resorts in a research report on Friday, April 25th. Mizuho dropped their target price on shares of Vail Resorts from $227.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. Macquarie dropped their target price on shares of Vail Resorts from $195.00 to $185.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. Barclays reiterated an "underweight" rating and issued a $152.00 target price (down previously from $165.00) on shares of Vail Resorts in a research report on Monday, March 10th. Finally, Bank of America dropped their target price on shares of Vail Resorts from $185.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $189.10.

Vail Resorts Stock Performance

MTN stock traded down $2.18 during midday trading on Wednesday, hitting $160.29. 617,156 shares of the stock traded hands, compared to its average volume of 589,422. The firm has a market cap of $5.98 billion, a P/E ratio of 26.63, a PEG ratio of 1.93 and a beta of 0.91. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.63 and a quick ratio of 0.51. The stock's fifty day simple moving average is $146.29 and its 200-day simple moving average is $164.60. Vail Resorts has a 1-year low of $129.85 and a 1-year high of $199.45.

Vail Resorts (NYSE:MTN - Get Free Report) last released its quarterly earnings results on Monday, March 10th. The company reported $6.56 EPS for the quarter, beating the consensus estimate of $6.29 by $0.27. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Vail Resorts had a net margin of 8.07% and a return on equity of 21.90%. The firm's revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business earned $5.76 earnings per share. On average, analysts expect that Vail Resorts will post 7.62 earnings per share for the current year.

Insider Transactions at Vail Resorts

In other Vail Resorts news, CFO Angela A. Korch purchased 185 shares of the firm's stock in a transaction dated 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 purchase, the chief financial officer now owns 2,956 shares in the company, valued at approximately $472,960. This represents a 6.68% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Vail Resorts

Hedge funds and other institutional investors have recently modified their holdings of the business. SouthState Corp purchased a new position in Vail Resorts during the first quarter worth about $29,000. Heck Capital Advisors LLC purchased a new position in Vail Resorts during the fourth quarter worth about $33,000. Blue Trust Inc. raised its stake in Vail Resorts by 246.7% during the fourth quarter. Blue Trust Inc. now owns 208 shares of the company's stock worth $36,000 after purchasing an additional 148 shares during the period. Golden State Wealth Management LLC raised its stake in Vail Resorts by 102.5% during the first quarter. Golden State Wealth Management LLC now owns 243 shares of the company's stock worth $39,000 after purchasing an additional 123 shares during the period. Finally, Alpine Bank Wealth Management purchased a new position in Vail Resorts during the first quarter worth about $40,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.