Travel + Leisure (NYSE:TNL) Sets New 1-Year High – Here’s Why

Travel + Leisure Co. (NYSE:TNL) shares hit a new 52-week high on Wednesday . The stock traded as high as $72.35 and last traded at $71.6710, with a volume of 111256 shares. The stock had previously closed at $70.78.

Analysts Set New Price Targets

TNL has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Travel + Leisure in a research report on Wednesday, October 8th. Wells Fargo & Company assumed coverage on Travel + Leisure in a research note on Tuesday, November 18th. They issued an “overweight” rating and a $74.00 price objective for the company. Truist Financial boosted their target price on Travel + Leisure from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. JMP Securities raised their price target on Travel + Leisure from $70.00 to $80.00 and gave the company a “market outperform” rating in a research report on Thursday, October 23rd. Finally, The Goldman Sachs Group lifted their price target on Travel + Leisure from $61.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Travel + Leisure has an average rating of “Moderate Buy” and an average price target of $72.22.

Travel + Leisure Stock Up 0.8%

The firm has a fifty day moving average price of $64.73 and a 200-day moving average price of $60.20. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 0.62 and a beta of 1.39.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.08. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Travel + Leisure had a net margin of 10.36% and a negative return on equity of 49.06%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.57 EPS. Equities research analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $2.24 dividend on an annualized basis and a yield of 3.1%. Travel + Leisure’s dividend payout ratio (DPR) is currently 36.84%.

Insider Activity at Travel + Leisure

In related news, insider Amandine Robin-Caplan sold 1,538 shares of Travel + Leisure stock in a transaction on Friday, October 24th. The stock was sold at an average price of $65.08, for a total value of $100,093.04. Following the transaction, the insider owned 3,904 shares in the company, valued at approximately $254,072.32. This trade represents a 28.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kimberly Marshall sold 16,500 shares of the business’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $65.00, for a total value of $1,072,500.00. Following the sale, the insider directly owned 40,236 shares of the company’s stock, valued at approximately $2,615,340. This trade represents a 29.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 198,776 shares of company stock worth $13,080,628 in the last 90 days. Company insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travel + Leisure

Large investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL acquired a new stake in Travel + Leisure in the third quarter valued at approximately $6,404,000. Severin Investments LLC acquired a new position in shares of Travel + Leisure during the third quarter worth $942,000. CIBC Bancorp USA Inc. purchased a new position in shares of Travel + Leisure in the third quarter valued at $3,585,000. Coldstream Capital Management Inc. acquired a new stake in Travel + Leisure during the 3rd quarter valued at $225,000. Finally, Danske Bank A S acquired a new stake in Travel + Leisure during the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 87.54% of the company’s stock.

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.