Travel + Leisure (NYSE:TNL) Sets New 12-Month High – Here’s What Happened

Shares of Travel + Leisure Co. (NYSE:TNL) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $80.99 and last traded at $80.46, with a volume of 105063 shares traded. The stock had previously closed at $72.86.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their price target on Travel + Leisure from $81.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial raised their target price on shares of Travel + Leisure from $70.00 to $71.00 and gave the company a “buy” rating in a report on Friday, November 14th. Barclays set a $78.00 price target on shares of Travel + Leisure in a research report on Thursday. Stifel Nicolaus set a $89.00 price target on shares of Travel + Leisure in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $90.00 price objective on shares of Travel + Leisure in a research note on Friday. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Travel + Leisure currently has a consensus rating of “Moderate Buy” and an average price target of $84.45.

Travel + Leisure Stock Up 0.8%

The company has a market capitalization of $4.75 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 0.64 and a beta of 1.38. The firm’s 50 day simple moving average is $72.22 and its 200 day simple moving average is $66.09.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, February 18th. The company reported $1.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.83. Travel + Leisure had a net margin of 5.74% and a negative return on equity of 47.77%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the business earned $1.72 EPS. The business’s revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Geoffrey Richards sold 62,525 shares of Travel + Leisure stock in a transaction on Monday, November 24th. The stock was sold at an average price of $65.17, for a total transaction of $4,074,754.25. Following the completion of the sale, the insider directly owned 39,604 shares in the company, valued at approximately $2,580,992.68. This trade represents a 61.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Herrera sold 559 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $68.18, for a total transaction of $38,112.62. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travel + Leisure

Institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its position in Travel + Leisure by 231.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 691,599 shares of the company’s stock worth $41,143,000 after purchasing an additional 482,731 shares during the last quarter. Compass Wealth Management LLC purchased a new position in shares of Travel + Leisure in the third quarter worth $1,707,000. ING Groep NV lifted its stake in shares of Travel + Leisure by 115.0% during the third quarter. ING Groep NV now owns 63,000 shares of the company’s stock worth $3,748,000 after buying an additional 33,700 shares during the period. Advisors Capital Management LLC lifted its stake in shares of Travel + Leisure by 1.1% during the second quarter. Advisors Capital Management LLC now owns 399,794 shares of the company’s stock worth $20,633,000 after buying an additional 4,242 shares during the period. Finally, Ethic Inc. grew its holdings in shares of Travel + Leisure by 132.0% during the third quarter. Ethic Inc. now owns 27,108 shares of the company’s stock valued at $1,613,000 after buying an additional 15,422 shares during the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.

About Travel + Leisure

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.