Travel + Leisure (NYSE:TNL) Reaches New 12-Month High Following Earnings Beat

Travel + Leisure Co. (NYSE:TNL) reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $57.81 and last traded at $57.36, with a volume of 64847 shares traded. The stock had previously closed at $57.45.

The company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. The business had revenue of $971.00 million for the quarter, compared to analyst estimates of $958.87 million. Travel + Leisure had a net margin of 10.99% and a negative return on equity of 48.06%. Travel + Leisure’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 EPS.

Wall Street Analysts Forecast Growth

TNL has been the subject of a number of research reports. Stifel Nicolaus increased their price target on Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Bank of America raised shares of Travel + Leisure from an “underperform” rating to a “buy” rating and upped their price target for the company from $40.00 to $60.00 in a research report on Monday, January 27th. The Goldman Sachs Group raised their price objective on shares of Travel + Leisure from $49.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their target price on Travel + Leisure from $56.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Barclays boosted their price target on shares of Travel + Leisure from $41.00 to $48.00 and gave the company an “underweight” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Travel + Leisure currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

Insider Transactions at Travel + Leisure

In related news, insider Geoffrey Richards sold 9,400 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $56.56, for a total transaction of $531,664.00. Following the completion of the sale, the insider now owns 111,202 shares of the company’s stock, valued at $6,289,585.12. This trade represents a 7.79 % 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. Corporate insiders own 4.02% of the company’s stock.

Hedge Funds Weigh In On Travel + Leisure

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Travel + Leisure in the fourth quarter worth approximately $45,804,000. Algert Global LLC increased its holdings in shares of Travel + Leisure by 168.9% in the 3rd quarter. Algert Global LLC now owns 319,279 shares of the company’s stock worth $14,712,000 after buying an additional 200,549 shares during the last quarter. Nuveen Asset Management LLC raised its position in Travel + Leisure by 25.1% during the fourth quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company’s stock valued at $45,299,000 after purchasing an additional 180,059 shares during the period. Invesco Ltd. raised its holdings in Travel + Leisure by 4.8% during the 4th quarter. Invesco Ltd. now owns 3,544,548 shares of the company’s stock valued at $178,822,000 after buying an additional 163,804 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Travel + Leisure by 21.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company’s stock worth $36,540,000 after acquiring an additional 138,153 shares during the last quarter. 87.54% of the stock is owned by institutional investors.

Travel + Leisure Stock Up 0.9 %

The firm has a market cap of $3.96 billion, a P/E ratio of 9.84, a P/E/G ratio of 0.65 and a beta of 1.64. The company’s 50 day simple moving average is $52.98 and its 200-day simple moving average is $49.32.

Travel + Leisure Company Profile

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.