Hilton Grand Vacations Inc. (HGV) Rating Increased to Buy at Zacks Investment Research
Hilton Grand Vacations Inc. (NYSE:HGV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $40.00 price objective on the stock. Zacks Investment Research‘s target price points to a potential upside of 11.05% from the stock’s previous close.
According to Zacks, “Hilton Grand Vacations Company, LLC, a division of Hilton Worldwide, is engaged in hospitality business. It markets and operates vacation ownership resorts. The company also manages and serves club membership programs which include Hilton Grand Vacations Club(R) and The Hilton Club(R). It operates primarily in USA, Indonesia, Italy, Mexico, New Zealand, Portugal, Scotland and Thailand. Hilton Grand Vacations Company, LLC is headquartered in Orlando, Florida. “
A number of other research analysts have also recently commented on the stock. Nomura reissued a “buy” rating and issued a $43.00 target price on shares of Hilton Grand Vacations in a report on Monday, May 15th. Buckingham Research started coverage on shares of Hilton Grand Vacations in a report on Monday, June 19th. They issued a “buy” rating and a $42.00 target price for the company. Finally, Instinet reissued a “buy” rating and issued a $45.00 target price (up previously from $44.00) on shares of Hilton Grand Vacations in a report on Thursday, August 3rd. Nine equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $38.44.
Shares of Hilton Grand Vacations (NYSE HGV) opened at 36.02 on Tuesday. Hilton Grand Vacations has a 52-week low of $24.60 and a 52-week high of $36.37. The firm has a 50-day moving average of $36.15 and a 200 day moving average of $31.95. The firm has a market cap of $3.57 billion and a PE ratio of 20.50.
Hilton Grand Vacations (NYSE:HGV) last posted its earnings results on Wednesday, August 2nd. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The company had revenue of $439.00 million during the quarter, compared to the consensus estimate of $413.33 million. Hilton Grand Vacations’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities analysts predict that Hilton Grand Vacations will post $1.94 earnings per share for the current year.
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In other Hilton Grand Vacations news, Director David William Johnson acquired 28,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average price of $35.16 per share, for a total transaction of $984,480.00. Following the acquisition, the director now directly owns 33,000 shares in the company, valued at $1,160,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Hlt Holdco Iii Llc sold 9,650,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $35.40, for a total transaction of $341,610,000.00. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in Hilton Grand Vacations by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,978 shares of the company’s stock valued at $107,000 after buying an additional 202 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Hilton Grand Vacations by 129.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,200 shares of the company’s stock valued at $223,000 after buying an additional 3,500 shares during the last quarter. Pacad Investment Ltd. raised its holdings in Hilton Grand Vacations by 6.7% in the 2nd quarter. Pacad Investment Ltd. now owns 6,400 shares of the company’s stock valued at $231,000 after buying an additional 400 shares during the last quarter. Cigna Investments Inc. New bought a new position in Hilton Grand Vacations in the 2nd quarter valued at approximately $263,000. Finally, Quantbot Technologies LP raised its holdings in Hilton Grand Vacations by 700.6% in the 2nd quarter. Quantbot Technologies LP now owns 9,111 shares of the company’s stock valued at $328,000 after buying an additional 7,973 shares during the last quarter. Institutional investors and hedge funds own 97.88% of the company’s stock.
Hilton Grand Vacations Company Profile
Hilton Grand Vacations Inc is a timeshare company that markets and sells vacation ownership intervals (VOIs), manages resorts in leisure and urban destinations, and operates a points-based vacation club. The Company operates its business across two segments: Real Estate Sales and Financing, and Resort Operations and Club Management.
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