Hilton Grand Vacations (NYSE:HGV) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Hilton Grand Vacations (NYSE:HGV) from a hold rating to a buy rating in a research note published on Saturday,Wall Street Zen reports.

A number of other research firms have also recently issued reports on HGV. Wells Fargo & Company cut their price objective on Hilton Grand Vacations from $51.00 to $38.00 and set a “cautious” rating for the company in a research report on Monday, October 19th. Citigroup cut shares of Hilton Grand Vacations from a “market outperform” rating to a “market perform” rating in a research report on Monday, November 2nd. Susquehanna decreased their price objective on shares of Hilton Grand Vacations from $50.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, October 15th. Truist Financial dropped their price objective on shares of Hilton Grand Vacations from $71.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, September 10th. Finally, Barclays cut their target price on shares of Hilton Grand Vacations from $46.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, November 2nd. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Hilton Grand Vacations presently has an average rating of “Hold” and an average target price of $49.10.

Hilton Grand Vacations Stock Performance

Shares of NYSE HGV opened at $44.09 on Friday. The company has a debt-to-equity ratio of 5.29, a quick ratio of 3.35 and a current ratio of 5.15. The stock has a 50 day moving average price of $37.55 and a 200 day moving average price of $44.51. The stock has a market capitalization of $3.34 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 0.31 and a beta of 1.60. Hilton Grand Vacations has a 52 week low of $33.99 and a 52 week high of $55.40.

Hilton Grand Vacations (NYSE:HGV) last released its quarterly earnings data on Thursday, October 29th. The company reported $4.03 earnings per share for the quarter, topping the consensus estimate of $1.08 by $2.95. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.39 billion. Hilton Grand Vacations had a net margin of 7.02% and a return on equity of 39.73%. Hilton Grand Vacations’s revenue for the quarter was up 50.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. Analysts predict that Hilton Grand Vacations will post 6.38 earnings per share for the current fiscal year.

Hilton Grand Vacations announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 20th that allows the company to repurchase $600 million in outstanding shares. This repurchase authorization allows the company to purchase up to 17% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Hilton Grand Vacations

In related news, insider Charles R. Jr. Corbin sold 60,401 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $43.41, for a total transaction of $2,622,007.41. Following the sale, the insider owned 47,924 shares of the company’s stock, valued at $2,080,380.84. This represents a 55.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark D. Wang acquired 12,200 shares of the stock in a transaction on Monday, November 2nd. The shares were bought at an average price of $40.92 per share, for a total transaction of $499,224.00. Following the purchase, the insider owned 916,715 shares in the company, valued at approximately $37,511,977.80. This trade represents a 1.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 3.10% of the company’s stock.

Institutional Trading of Hilton Grand Vacations

Large investors have recently modified their holdings of the stock. Nykredit A S acquired a new stake in Hilton Grand Vacations during the second quarter worth about $38,000. Allworth Financial LP bought a new stake in shares of Hilton Grand Vacations during the 2nd quarter worth approximately $43,000. Covestor Ltd lifted its holdings in shares of Hilton Grand Vacations by 17.3% during the 3rd quarter. Covestor Ltd now owns 1,800 shares of the company’s stock worth $62,000 after acquiring an additional 265 shares during the period. Persistent Asset Partners Ltd acquired a new stake in shares of Hilton Grand Vacations during the 2nd quarter worth approximately $63,000. Finally, Sterling Capital Management LLC boosted its position in shares of Hilton Grand Vacations by 912.6% during the 3rd quarter. Sterling Capital Management LLC now owns 2,015 shares of the company’s stock worth $70,000 after acquiring an additional 1,816 shares in the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

About Hilton Grand Vacations

Hilton Grand Vacations Inc (NYSE:HGV) is a global vacation ownership company that markets and sells vacation intervals, points-based memberships and related travel experiences. Its portfolio includes branded vacation ownership resorts and accommodations in popular leisure destinations, with products designed to provide members with recurring access to vacation properties.

The company also provides resort management, reservation and customer services, financing for vacation ownership purchases, and exchange and travel-planning services.