Vail Resorts (NYSE:MTN) Price Target Lowered to $229.00 at Morgan Stanley

Vail Resorts (NYSE:MTN) had its price objective cut by equities researchers at Morgan Stanley from $242.00 to $229.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 13.81% from the company’s previous close.

Several other brokerages also recently commented on MTN. Stifel Nicolaus restated a “buy” rating and set a $263.00 price objective on shares of Vail Resorts in a research report on Friday, March 22nd. Bank of America lowered Vail Resorts from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $285.00 to $250.00 in a report on Friday, March 8th. Mizuho started coverage on Vail Resorts in a research note on Tuesday, March 26th. They issued a “buy” rating and a $256.00 price objective on the stock. Truist Financial reissued a “buy” rating and issued a $290.00 target price on shares of Vail Resorts in a research note on Friday, January 19th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Vail Resorts from $252.00 to $243.00 and set a “neutral” rating for the company in a report on Monday. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $260.11.

Vail Resorts Stock Performance

MTN stock traded down $1.73 during trading on Monday, reaching $201.21. 98,266 shares of the stock were exchanged, compared to its average volume of 479,747. The company has a market capitalization of $7.64 billion, a P/E ratio of 33.59, a price-to-earnings-growth ratio of 2.17 and a beta of 1.11. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 2.37. Vail Resorts has a twelve month low of $201.06 and a twelve month high of $258.13. The stock has a 50 day simple moving average of $224.95 and a 200-day simple moving average of $221.31.

Vail Resorts (NYSE:MTN) last released its earnings results on Monday, March 11th. The company reported $5.76 EPS for the quarter, missing analysts’ consensus estimates of $6.07 by ($0.31). Vail Resorts had a return on equity of 19.16% and a net margin of 8.44%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm posted $5.16 EPS. Vail Resorts’s revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Vail Resorts will post 7.69 earnings per share for the current year.

Insider Activity

In other news, Director Peter A. Vaughn sold 1,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $222.77, for a total value of $222,770.00. Following the completion of the transaction, the director now owns 7,592 shares in the company, valued at approximately $1,691,269.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MTN. Pittenger & Anderson Inc. increased its stake in shares of Vail Resorts by 125.0% in the third quarter. Pittenger & Anderson Inc. now owns 117 shares of the company’s stock worth $26,000 after buying an additional 65 shares during the last quarter. Park Place Capital Corp lifted its holdings in Vail Resorts by 531.6% in the fourth quarter. Park Place Capital Corp now owns 120 shares of the company’s stock worth $26,000 after purchasing an additional 101 shares during the period. Rise Advisors LLC raised its position in Vail Resorts by 62.2% in the fourth quarter. Rise Advisors LLC now owns 159 shares of the company’s stock worth $34,000 after acquiring an additional 61 shares in the last quarter. Quarry LP acquired a new stake in Vail Resorts during the 4th quarter worth about $35,000. Finally, Desjardins Global Asset Management Inc. raised its holdings in Vail Resorts by 70.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

About Vail Resorts

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.