Travel + Leisure (NYSE:TNL) Price Target Raised to $92.00

Travel + Leisure (NYSE:TNL) had its target price boosted by Wells Fargo & Company from $87.00 to $92.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Zacks Research raised Travel + Leisure from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Wall Street Zen downgraded shares of Travel + Leisure from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings raised shares of Travel + Leisure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Citigroup reissued a “market outperform” rating on shares of Travel + Leisure in a research report on Thursday. Finally, Mizuho decreased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $86.90.

Travel + Leisure Stock Performance

Shares of TNL opened at $74.07 on Thursday. The stock has a 50-day moving average of $72.53 and a two-hundred day moving average of $71.70. Travel + Leisure has a one year low of $56.66 and a one year high of $81.00. The stock has a market cap of $4.53 billion, a P/E ratio of 20.24, a P/E/G ratio of 0.56 and a beta of 1.16.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, meeting the consensus estimate of $1.88. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 EPS. Analysts predict that Travel + Leisure will post 7.58 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, June 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.2%. Travel + Leisure’s dividend payout ratio (DPR) is presently 65.57%.

Insider Activity

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 transaction of $159,575.00. Following the sale, the director directly owned 1,977 shares of the company’s stock, 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 this hyperlink. Also, Director George Herrera sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the sale, the director directly owned 1,353 shares in the company, valued at approximately $101,691.48. This trade represents a 26.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 31,000 shares of company stock valued at $2,161,915 in the last quarter. 4.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Travel + Leisure

Hedge funds have recently bought and sold shares of the stock. Elevation Wealth Partners LLC grew its stake in shares of 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 during the period. Bank of America Corp DE lifted its stake in shares of Travel + Leisure by 4.7% in the 1st quarter. Bank of America Corp DE now owns 204,503 shares of the company’s stock valued at $14,150,000 after purchasing an additional 9,193 shares during the period. Edgestream Partners L.P. lifted its stake in shares of Travel + Leisure by 30.9% in the 1st quarter. Edgestream Partners L.P. now owns 135,102 shares of the company’s stock valued at $9,348,000 after purchasing an additional 31,897 shares during the period. Bull Harbor Capital LLC purchased a new stake in Travel + Leisure during the first quarter worth $286,000. Finally, Amundi boosted its holdings in Travel + Leisure by 136.8% during the first quarter. Amundi now owns 22,158 shares of the company’s stock worth $1,533,000 after buying an additional 12,800 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.

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.