Travel + Leisure (NYSE:TNL) Stock Lifted to “Hold” by Zacks Research

Zacks Research upgraded shares of Travel + Leisure (NYSE:TNL) from a strong sell rating to a hold rating in a research note released on Tuesday,Zacks reports.

TNL has been the topic of a number of other research reports. Weiss Ratings downgraded Travel + Leisure from a “buy (b-)” rating to a “hold (c)” rating in a report on Tuesday. Susquehanna decreased their price target on Travel + Leisure from $95.00 to $75.00 and set a “positive” rating on the stock in a research note on Thursday, October 15th. Truist Financial lowered their price target on Travel + Leisure from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, September 10th. The Goldman Sachs Group dropped their price objective on Travel + Leisure from $87.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, October 15th. Finally, Wells Fargo & Company reduced their price objective on Travel + Leisure from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Travel + Leisure currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.25.

Travel + Leisure Price Performance

Shares of NYSE TNL opened at $77.87 on Tuesday. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 0.74 and a beta of 1.21. The stock’s fifty day moving average price is $66.03 and its two-hundred day moving average price is $70.52. Travel + Leisure has a one year low of $60.34 and a one year high of $81.00.

Travel + Leisure (NYSE:TNL) last posted its earnings results on Tuesday, October 27th. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.16. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 5.66%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm earned $1.80 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts anticipate that Travel + Leisure will post 7.77 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 11th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, December 11th. Travel + Leisure’s dividend payout ratio (DPR) is currently 64.52%.

Insider Buying and Selling

In other Travel + Leisure news, CAO Thomas Michael Duncan sold 20,000 shares of Travel + Leisure 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 transaction, the chief accounting officer directly owned 5,307 shares of the company’s stock, valued at approximately $393,567.12. The trade was a 79.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.01% of the company’s stock.

Hedge Funds Weigh In On Travel + Leisure

Hedge funds have recently made changes to their positions in the stock. AlphaCore Capital LLC boosted its holdings in Travel + Leisure by 67.8% in the third quarter. AlphaCore Capital LLC now owns 5,990 shares of the company’s stock worth $371,000 after acquiring an additional 2,421 shares in the last quarter. Fulcrum Asset Management LLP acquired a new stake in Travel + Leisure in the third quarter valued at approximately $97,000. Point Nemo Capital LLC increased its holdings in shares of Travel + Leisure by 11.2% during the third quarter. Point Nemo Capital LLC now owns 20,474 shares of the company’s stock valued at $1,267,000 after acquiring an additional 2,061 shares in the last quarter. Childress Capital Advisors LLC bought a new stake in shares of Travel + Leisure during the third quarter valued at approximately $360,000. Finally, Victory Financial Group LLC bought a new stake in shares of Travel + Leisure during the third quarter valued at approximately $686,000. 87.54% of the stock is currently owned by institutional investors.

About Travel + Leisure

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.