Hilton Grand Vacations (NYSE:HGV) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Hilton Grand Vacations (NYSE:HGV) in a research note issued on Thursday, Briefing.com reports. The firm set a “neutral” rating and a $39.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 12.68% from the company’s previous close.

Several other analysts have also recently weighed in on HGV. The Goldman Sachs Group cut their price target on shares of Hilton Grand Vacations from $55.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Zacks Research lowered shares of Hilton Grand Vacations from a “hold” rating to a “strong sell” rating in a report on Monday. Barclays cut their target price on shares of Hilton Grand Vacations from $51.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, July 31st. Wall Street Zen cut shares of Hilton Grand Vacations from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Mizuho decreased their price target on shares of Hilton Grand Vacations from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.10.

Hilton Grand Vacations Trading Down 0.3%

NYSE HGV opened at $34.61 on Thursday. Hilton Grand Vacations has a fifty-two week low of $33.99 and a fifty-two week high of $55.40. The company has a debt-to-equity ratio of 6.18, a quick ratio of 3.20 and a current ratio of 5.02. The stock has a 50 day simple moving average of $40.92 and a two-hundred day simple moving average of $45.52. The stock has a market cap of $2.69 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 0.36 and a beta of 1.61.

Hilton Grand Vacations (NYSE:HGV) last posted its earnings results on Thursday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.05). The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Hilton Grand Vacations had a net margin of 2.86% and a return on equity of 20.40%. Hilton Grand Vacations’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.54 earnings per share. On average, analysts forecast that Hilton Grand Vacations will post 4.4 earnings per share for the current year.

Hilton Grand Vacations announced that its Board of Directors has approved a stock buyback plan on Thursday, August 20th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 17% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at Hilton Grand Vacations

In related news, insider Charles Corbin, Jr. sold 20,691 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $46.90, for a total transaction of $970,407.90. Following the completion of the sale, the insider owned 47,924 shares of the company’s stock, valued at $2,247,635.60. This trade represents a 30.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hilton Grand Vacations

Several large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Hilton Grand Vacations in the second quarter worth approximately $422,842,000. Dimensional Fund Advisors LP raised its holdings in Hilton Grand Vacations by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,869,731 shares of the company’s stock worth $151,375,000 after purchasing an additional 60,624 shares during the period. Parsifal Capital Management LP purchased a new position in shares of Hilton Grand Vacations during the 2nd quarter valued at about $108,863,038. TrinityBridge Ltd purchased a new position in Hilton Grand Vacations during the second quarter valued at approximately $52,540,000. Finally, Breach Inlet Capital Management LLC boosted its holdings in Hilton Grand Vacations by 8.1% in the 4th quarter. Breach Inlet Capital Management LLC now owns 845,463 shares of the company’s stock worth $37,834,000 after buying an additional 63,548 shares during the period. 97.23% of the stock is currently owned by institutional investors.

About Hilton Grand Vacations

Hilton Grand Vacations Inc (NYSE:HGV) is a global vacation ownership company that develops, markets, sells and manages timeshare interests and related travel experiences. Through its vacation ownership programs, customers purchase points or interests that can be used for stays at a network of resorts and accommodations, often with access to exchange and reservation services.

The company operates a portfolio of vacation ownership brands and offerings, including Hilton Grand Vacations, Hilton Club, HGV Max and properties associated with Diamond Resorts and Bluegreen Vacations.