Travel + Leisure (NYSE:TNL) Rating Lowered to “Strong Sell” at Zacks Research

Travel + Leisure (NYSE:TNL) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday, Zacks reports.

A number of other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. started coverage on shares of Travel + Leisure in a report on Thursday, October 8th. They set a “neutral” rating and a $70.00 price target for the company. Truist Financial reduced their price target on Travel + Leisure from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, September 10th. Susquehanna dropped their target price on Travel + Leisure from $95.00 to $75.00 and set a “positive” rating for the company in a research note on Thursday, October 15th. Wells Fargo & Company reduced their target price on Travel + Leisure from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Citigroup restated a “market outperform” rating on shares of Travel + Leisure in a report on Thursday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Travel + Leisure currently has an average rating of “Moderate Buy” and an average target price of $85.25.

Travel + Leisure Price Performance

NYSE TNL opened at $64.88 on Thursday. The business has a 50 day moving average price of $66.06 and a 200 day moving average price of $70.03. Travel + Leisure has a 1-year low of $60.34 and a 1-year high of $81.00. The company has a market capitalization of $3.97 billion, a P/E ratio of 17.73, a PEG ratio of 0.69 and a beta of 1.19.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.88. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, research analysts expect that Travel + Leisure will post 7.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Travel + Leisure news, CAO Thomas Michael Duncan sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $74.16, for a total transaction of $1,483,200.00. Following the completion of the sale, the chief accounting officer directly owned 5,307 shares in the company, valued at $393,567.12. This represents a 79.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Geoffrey Richards sold 33,744 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $75.65, for a total value of $2,552,733.60. Following the completion of the transaction, the insider owned 1,600 shares in the company, valued at approximately $121,040. This trade represents a 95.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 53,944 shares of company stock worth $4,051,734 in the last quarter. 4.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Travel + Leisure in the second quarter worth $543,957,000. Bank of New York Mellon Corp purchased a new stake in Travel + Leisure during the 2nd quarter worth $55,087,000. Alyeska Investment Group L.P. acquired a new stake in Travel + Leisure in the 2nd quarter valued at $35,994,000. Allianz Asset Management GmbH increased its holdings in Travel + Leisure by 3,677.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 301,478 shares of the company’s stock valued at $23,042,000 after purchasing an additional 293,498 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Travel + Leisure during the 2nd quarter valued at about $19,663,000. 87.54% of the stock is owned by institutional investors and hedge funds.

Travel + Leisure Company Profile

Travel + Leisure Co (NYSE:TNL) is a hospitality and leisure travel company that operates vacation ownership, exchange, and membership businesses. The company provides travelers with access to resort accommodations, vacation experiences, travel services, and related lifestyle offerings through a portfolio of consumer brands.

Its vacation ownership business includes brands such as Club Wyndham, WorldMark by Wyndham, and Margaritaville Vacation Club, offering members interests in vacation properties and access to resort destinations.