Travel + Leisure (NYSE:TNL) Now Covered by Morgan Stanley

Morgan Stanley assumed coverage on shares of Travel + Leisure (NYSE:TNL) in a report issued on Monday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $67.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. Tigress Financial increased their target price on shares of Travel + Leisure from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. The Goldman Sachs Group boosted their target price on shares of Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Truist Financial increased their target price on Travel + Leisure from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Barclays lifted their price target on Travel + Leisure from $41.00 to $48.00 and gave the company an “underweight” rating in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. increased their price objective on Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Travel + Leisure currently has an average rating of “Moderate Buy” and an average target price of $59.50.

Travel + Leisure Price Performance

Shares of NYSE:TNL opened at $51.18 on Monday. Travel + Leisure has a 1 year low of $37.99 and a 1 year high of $56.91. The company has a market capitalization of $3.50 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 0.77 and a beta of 1.64. The business has a fifty day moving average price of $52.54 and a two-hundred day moving average price of $47.44.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.08. The company had revenue of $993.00 million during the quarter, compared to analyst estimates of $1.01 billion. Travel + Leisure had a net margin of 10.99% and a negative return on equity of 48.06%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 earnings per share. Sell-side analysts anticipate that Travel + Leisure will post 5.75 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.50 per share. The ex-dividend date was Friday, December 13th. This represents a $2.00 annualized dividend and a yield of 3.91%. Travel + Leisure’s payout ratio is presently 33.96%.

Insider Transactions at Travel + Leisure

In related news, Director Stephen P. Holmes sold 80,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $47.55, for a total value of $3,804,000.00. Following the transaction, the director now owns 362,947 shares of the company’s stock, valued at $17,258,129.85. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geoffrey Richards sold 9,400 shares of Travel + Leisure stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.56, for a total value of $531,664.00. Following the sale, the insider now directly owns 111,202 shares of the company’s stock, valued at approximately $6,289,585.12. This trade represents a 7.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,016 shares of company stock valued at $4,846,863 in the last quarter. Insiders own 4.02% of the company’s stock.

Hedge Funds Weigh In On Travel + Leisure

Several institutional investors and hedge funds have recently made changes to their positions in TNL. UMB Bank n.a. lifted its stake in shares of Travel + Leisure by 1,948.1% in the 3rd quarter. UMB Bank n.a. now owns 553 shares of the company’s stock valued at $25,000 after acquiring an additional 526 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Travel + Leisure by 2,759.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock worth $28,000 after purchasing an additional 607 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Travel + Leisure by 49.2% in the fourth quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock worth $32,000 after buying an additional 210 shares during the period. Larson Financial Group LLC purchased a new stake in Travel + Leisure during the 2nd quarter valued at $36,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Travel + Leisure in the 2nd quarter worth $38,000. Institutional investors own 87.54% of the company’s stock.

About Travel + Leisure

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.