Hilton Grand Vacations (NYSE:HGV) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Hilton Grand Vacations (NYSE:HGV) in a report released on Thursday, MarketBeat reports. The brokerage issued a neutral rating and a $39.00 price target on the stock.

A number of other research analysts also recently weighed in on HGV. Morgan Stanley lowered their price objective on shares of Hilton Grand Vacations from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 18th. Zacks Research downgraded shares of Hilton Grand Vacations from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. Mizuho decreased their target price on shares of Hilton Grand Vacations from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. The Goldman Sachs Group lowered their price target on Hilton Grand Vacations from $55.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Finally, Barclays dropped their price target on Hilton Grand Vacations from $51.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, July 31st. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Hilton Grand Vacations presently has an average rating of “Hold” and an average target price of $53.10.

Hilton Grand Vacations Price Performance

Shares of NYSE:HGV opened at $34.54 on Thursday. Hilton Grand Vacations has a fifty-two week low of $33.99 and a fifty-two week high of $55.40. The business has a 50-day simple moving average of $40.45 and a two-hundred day simple moving average of $45.40. The company has a debt-to-equity ratio of 6.18, a quick ratio of 3.20 and a current ratio of 5.02. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 0.35 and a beta of 1.61.

Hilton Grand Vacations (NYSE:HGV) last posted its earnings results on Thursday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.05). Hilton Grand Vacations had a net margin of 2.86% and a return on equity of 20.40%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the company posted $0.54 EPS. Hilton Grand Vacations’s revenue was up 7.3% on a year-over-year basis. On average, analysts expect that Hilton Grand Vacations will post 4.50 earnings per share for the current year.

Hilton Grand Vacations declared that its board has initiated a share repurchase program on Thursday, August 20th that allows the company to buy back $600.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 17% of its shares through open market purchases. Share repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Hilton Grand Vacations

In related news, insider Charles Corbin, Jr. sold 20,691 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $46.90, for a total transaction of $970,407.90. Following the completion of the sale, the insider directly owned 47,924 shares in the company, valued at approximately $2,247,635.60. The trade was a 30.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC purchased a new position in shares of Hilton Grand Vacations during the 2nd quarter worth $231,000. WINTON GROUP Ltd bought a new position in Hilton Grand Vacations in the 2nd quarter worth $293,000. Engineers Gate Manager LP raised its holdings in Hilton Grand Vacations by 690.7% in the 2nd quarter. Engineers Gate Manager LP now owns 41,535 shares of the company’s stock worth $2,175,000 after purchasing an additional 36,282 shares during the period. Nykredit A S bought a new position in shares of Hilton Grand Vacations in the second quarter worth about $38,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Hilton Grand Vacations during the second quarter valued at approximately $450,000. 97.23% of the stock is currently owned by institutional investors.

About Hilton Grand Vacations

Hilton Grand Vacations Inc (NYSE:HGV) is a global vacation ownership company that develops, markets, sells and manages timeshare interests and related travel experiences. Through its vacation ownership programs, customers purchase points or interests that can be used for stays at a network of resorts and accommodations, often with access to exchange and reservation services.

The company operates a portfolio of vacation ownership brands and offerings, including Hilton Grand Vacations, Hilton Club, HGV Max and properties associated with Diamond Resorts and Bluegreen Vacations.