Travel + Leisure (NYSE:TNL) Price Target Raised to $83.00 at Morgan Stanley

Travel + Leisure (NYSE:TNL) had its target price increased by analysts at Morgan Stanley from $78.00 to $83.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 12.37% from the company’s previous close.

Several other brokerages have also recently weighed in on TNL. Barclays reduced their price target on Travel + Leisure from $78.00 to $74.00 and set an “equal weight” rating for the company in a research report on Thursday, April 23rd. Mizuho lowered their price target on Travel + Leisure from $107.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Wells Fargo & Company lowered their price objective on Travel + Leisure from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. The Goldman Sachs Group raised shares of Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Monday, June 1st. Finally, Weiss Ratings upgraded shares of Travel + Leisure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.90.

Travel + Leisure Trading Down 2.1%

Shares of NYSE:TNL traded down $1.62 on Friday, hitting $73.86. 205,738 shares of the company were exchanged, compared to its average volume of 748,999. The firm has a market capitalization of $4.61 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 0.57 and a beta of 1.16. The stock’s 50 day moving average price is $71.32 and its 200 day moving average price is $71.60. Travel + Leisure has a 1-year low of $56.29 and a 1-year high of $81.00.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.31 by $0.14. Travel + Leisure had a net margin of 5.85% and a negative return on equity of 48.06%. The business had revenue of $961.00 million for the quarter, compared to the consensus estimate of $954.80 million. During the same period in the prior year, the firm earned $1.11 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts predict that Travel + Leisure will post 7.47 EPS for the current fiscal year.

Insider Buying and Selling at Travel + Leisure

In related news, Director Denny Marie Post sold 2,500 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $63.83, for a total transaction of $159,575.00. Following the completion of the transaction, the director directly owned 1,977 shares of the company’s stock, valued at $126,191.91. The trade was a 55.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Erik D. Hoag purchased 1,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were bought at an average price of $65.67 per share, for a total transaction of $65,670.00. Following the acquisition, the chief financial officer owned 1,000 shares in the company, valued at $65,670. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 31,000 shares of company stock worth $2,161,915. 4.01% of the stock is currently owned by insiders.

Institutional Trading of Travel + Leisure

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Travel + Leisure in the fourth quarter worth approximately $62,162,000. AQR Capital Management LLC lifted its position in shares of Travel + Leisure by 46.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock worth $138,449,000 after purchasing an additional 855,151 shares during the last quarter. Gotham Asset Management LLC grew its stake in shares of Travel + Leisure by 139.2% during the fourth quarter. Gotham Asset Management LLC now owns 631,336 shares of the company’s stock worth $44,528,000 after purchasing an additional 367,356 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Travel + Leisure by 68.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 885,105 shares of the company’s stock valued at $62,427,000 after buying an additional 359,186 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Travel + Leisure by 124.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 567,478 shares of the company’s stock valued at $40,024,000 after buying an additional 314,481 shares in the last quarter. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Travel + Leisure Company Profile

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.