Travel + Leisure (NYSE:TNL) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of Travel + Leisure (NYSE:TNL) from a strong-buy rating to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

Several other research firms have also commented on TNL. Weiss Ratings reissued a “buy (b-)” rating on shares of Travel + Leisure in a research report on Tuesday, July 21st. Wall Street Zen cut shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Mizuho lifted their target price on Travel + Leisure from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Morgan Stanley boosted their target price on shares of Travel + Leisure from $83.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Susquehanna initiated coverage on Travel + Leisure in a report on Tuesday. They issued a “positive” rating and a $95.00 price target for the company. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.82.

Travel + Leisure Price Performance

Shares of NYSE TNL opened at $70.59 on Wednesday. The stock has a market capitalization of $4.32 billion, a P/E ratio of 19.29, a PEG ratio of 0.50 and a beta of 1.17. The business’s 50 day moving average is $75.20 and its two-hundred day moving average is $72.12. Travel + Leisure has a 1-year low of $57.86 and a 1-year high of $81.00.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.88. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 earnings per share. As a group, equities research analysts anticipate that Travel + Leisure will post 7.66 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.40 dividend on an annualized basis and a yield of 3.4%. Travel + Leisure’s dividend payout ratio is currently 65.57%.

Insider Buying and Selling

In related news, insider Kimberly Marshall sold 32,691 shares of Travel + Leisure stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $75.00, for a total value of $2,451,825.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George Herrera sold 500 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the transaction, the director owned 1,353 shares of the company’s stock, valued at approximately $101,691.48. This represents a 26.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 95,135 shares of company stock valued at $7,022,699. 4.01% of the stock is currently owned by insiders.

Institutional Trading of Travel + Leisure

A number of institutional investors and hedge funds have recently bought and sold shares of the business. First Bancorp Inc ME purchased a new position in shares of Travel + Leisure in the second quarter valued at approximately $27,000. Elevation Wealth Partners LLC lifted its holdings in Travel + Leisure by 413.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 462 shares of the company’s stock worth $35,000 after buying an additional 372 shares in the last quarter. Danske Bank A S purchased a new position in Travel + Leisure in the 3rd quarter valued at approximately $30,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Travel + Leisure during the fourth quarter worth $43,000. Finally, Assetmark Inc. increased its holdings in Travel + Leisure by 43.8% during the 1st quarter. Assetmark Inc. now owns 627 shares of the company’s stock worth $43,000 after purchasing an additional 191 shares during the period. 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.