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Wells Fargo & Company Boosts Travel + Leisure (NYSE:TNL) Price Target to $92.00

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Key Points

  • Wells Fargo & Company raised its price target on Travel + Leisure to $92 from $87 and kept an overweight rating, implying about 21.9% upside from the current share price.
  • Travel + Leisure reported Q2 EPS of $1.88, matching analyst expectations, while revenue of $1.06 billion beat estimates and rose 4.4% year over year. The company also raised its full-year outlook after the quarter.
  • Analyst sentiment remains positive overall, with the stock carrying a consensus Buy rating and an average price target of $86.70. Recent coverage included a Zacks upgrade to strong-buy, though some analysts trimmed targets or downgraded the stock.
  • MarketBeat previews top five stocks to own in August.

Travel + Leisure (NYSE:TNL - Get Free Report) had its price objective increased by equities researchers at Wells Fargo & Company from $87.00 to $92.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 21.90% from the company's current price.

Other equities analysts have also recently issued reports about the stock. Mizuho cut their target price on shares of Travel + Leisure from $107.00 to $105.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Wall Street Zen downgraded shares of Travel + Leisure from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Zacks Research raised shares of Travel + Leisure from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Barclays upped their price objective on shares of Travel + Leisure from $74.00 to $77.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, Citigroup reissued a "market outperform" rating on shares of Travel + Leisure in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $86.70.

View Our Latest Analysis on TNL

Travel + Leisure Stock Up 2.9%

NYSE TNL opened at $75.47 on Thursday. The stock has a market capitalization of $4.71 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 0.56 and a beta of 1.16. Travel + Leisure has a 12-month low of $56.66 and a 12-month high of $81.00. The company has a 50 day moving average price of $72.10 and a two-hundred day moving average price of $71.67.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 EPS for the quarter, meeting analysts' consensus estimates of $1.88. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 5.85%.The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm posted $1.65 EPS. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts anticipate that Travel + Leisure will post 7.5 EPS for the current year.

Insiders Place Their Bets

In related news, Director Denny Marie Post sold 2,500 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $63.83, for a total value of $159,575.00. Following the transaction, the director owned 1,977 shares in the company, valued at $126,191.91. This trade represents a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George Herrera sold 500 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $37,580.00. Following the completion of the transaction, the director directly owned 1,353 shares in the company, valued at $101,691.48. This trade represents a 26.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,000 shares of company stock valued at $2,161,915 in the last 90 days. 4.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Travel + Leisure

Hedge funds have recently bought and sold shares of the company. Elevation Wealth Partners LLC increased its holdings in Travel + Leisure by 413.3% during 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 in the last quarter. Danske Bank A S bought a new stake in shares of Travel + Leisure in the third quarter valued at about $30,000. N.E.W. Advisory Services LLC bought a new stake in shares of Travel + Leisure in the fourth quarter valued at about $43,000. Assetmark Inc. boosted its position in shares of Travel + Leisure by 43.8% during the first quarter. Assetmark Inc. now owns 627 shares of the company's stock worth $43,000 after buying an additional 191 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Travel + Leisure by 293.0% during the first quarter. Geneos Wealth Management Inc. now owns 959 shares of the company's stock worth $44,000 after buying an additional 715 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Travel + Leisure

Here are the key news stories impacting Travel + Leisure this week:

Travel + Leisure Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Travel + Leisure (NYSE:TNL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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