Travel + Leisure (NYSE:TNL) Stock Rating Lowered by Zacks Research

Travel + Leisure (NYSE:TNL) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Morgan Stanley upped their target price on shares of Travel + Leisure from $83.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group upgraded shares of Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Monday, June 1st. Citigroup reiterated a “market outperform” rating on shares of Travel + Leisure in a research note on Thursday, July 23rd. Susquehanna started coverage on shares of Travel + Leisure in a report on Tuesday. They set a “positive” rating and a $95.00 price objective for the company. Finally, Barclays increased their price objective on shares of Travel + Leisure from $74.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.82.

Travel + Leisure Trading Down 3.3%

NYSE TNL opened at $70.59 on Wednesday. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 0.50 and a beta of 1.17. Travel + Leisure has a 12 month low of $57.86 and a 12 month high of $81.00. The company’s 50 day moving average is $75.20 and its two-hundred day moving average is $72.12.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.88. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the company posted $1.65 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts forecast that Travel + Leisure will post 7.66 EPS for the current year.

Insider Buying and Selling

In other Travel + Leisure news, insider Kimberly Marshall sold 32,691 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $75.00, for a total transaction of $2,451,825.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Geoffrey Richards sold 33,744 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $75.65, for a total value of $2,552,733.60. Following the completion of the sale, the insider directly owned 1,600 shares of the company’s stock, valued at $121,040. The trade was a 95.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 95,135 shares of company stock worth $7,022,699. Corporate insiders own 4.01% of the company’s stock.

Hedge Funds Weigh In On Travel + Leisure

Large investors have recently modified their holdings of the stock. First Bancorp Inc ME purchased a new stake in Travel + Leisure during the 2nd quarter valued at $27,000. Elevation Wealth Partners LLC boosted its stake in Travel + Leisure by 413.3% during the second quarter. Elevation Wealth Partners LLC now owns 462 shares of the company’s stock worth $35,000 after buying an additional 372 shares during the period. Danske Bank A S purchased a new position in Travel + Leisure during the third quarter worth $30,000. N.E.W. Advisory Services LLC bought a new position in Travel + Leisure during the fourth quarter valued at $43,000. Finally, Assetmark Inc. increased its position in Travel + Leisure by 43.8% during the first quarter. Assetmark Inc. now owns 627 shares of the company’s stock valued at $43,000 after acquiring an additional 191 shares during the last quarter. Institutional investors own 87.54% of the company’s stock.

About Travel + Leisure

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.