Travel + Leisure (NYSE:TNL) Price Target Raised to $61.00

Travel + Leisure (NYSE:TNL) had its price objective increased by Truist Financial from $60.00 to $61.00 in a research note published on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Barclays increased their target price on Travel + Leisure from $40.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Stifel Nicolaus increased their price objective on Travel + Leisure from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Travel + Leisure from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Tigress Financial increased their price objective on shares of Travel + Leisure from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.80.

Travel + Leisure Trading Up 0.9 %

NYSE:TNL opened at $55.87 on Tuesday. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 0.80 and a beta of 1.61. The stock has a 50-day moving average price of $49.19 and a two-hundred day moving average price of $45.89. Travel + Leisure has a 1 year low of $35.41 and a 1 year high of $56.91.

Travel + Leisure (NYSE:TNL) last announced its earnings results on Wednesday, October 23rd. The company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.49 by $0.08. Travel + Leisure had a net margin of 10.99% and a negative return on equity of 48.06%. The firm had revenue of $993.00 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company posted $1.54 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. Sell-side analysts forecast that Travel + Leisure will post 5.75 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.58%. Travel + Leisure’s payout ratio is 33.96%.

Insider Buying and Selling at Travel + Leisure

In other news, Director Stephen P. Holmes sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $47.55, for a total value of $3,804,000.00. Following the transaction, the director now owns 362,947 shares in the company, valued at $17,258,129.85. The trade was a 18.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George Herrera sold 2,193 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total transaction of $93,158.64. Following the completion of the transaction, the director now directly owns 6,352 shares in the company, valued at $269,832.96. This trade represents a 25.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,455 shares of company stock valued at $5,075,834. Corporate insiders own 4.02% of the company’s stock.

Hedge Funds Weigh In On Travel + Leisure

Several hedge funds have recently made changes to their positions in TNL. Price T Rowe Associates Inc. MD grew its holdings in shares of Travel + Leisure by 1.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 392,299 shares of the company’s stock worth $19,208,000 after purchasing an additional 7,392 shares in the last quarter. Swedbank AB bought a new stake in Travel + Leisure in the first quarter worth $33,598,000. Cetera Advisors LLC bought a new position in shares of Travel + Leisure during the first quarter valued at about $206,000. Abich Financial Wealth Management LLC grew its position in Travel + Leisure by 10,344.4% during the 1st quarter. Abich Financial Wealth Management LLC now owns 940 shares of the company’s stock worth $46,000 after acquiring an additional 931 shares during the last quarter. Finally, Versant Capital Management Inc bought a new position in shares of Travel + Leisure in the second quarter worth approximately $27,000. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

About Travel + Leisure

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.