Travel + Leisure (NYSE:TNL) Sets New 52-Week High – Here’s What Happened

by · The Markets Daily

Travel + Leisure Co. (NYSE:TNL – Get Free Report)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $52.30 and last traded at $52.30, with a volume of 2546 shares trading hands. The stock had previously closed at $49.90.

Analysts Set New Price Targets

A number of research firms have weighed in on TNL. The Goldman Sachs Group raised their price objective on shares of Travel + Leisure from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their price target on Travel + Leisure from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Tigress Financial boosted their target price on shares of Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Truist Financial dropped their price objective on shares of Travel + Leisure from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. boosted their target price on Travel + Leisure from $53.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Travel + Leisure has an average rating of “Moderate Buy” and a consensus target price of $55.67.

Read Our Latest Report on Travel + Leisure

Travel + Leisure Stock Up 4.5 %

The firm has a market cap of $3.57 billion, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 0.71 and a beta of 1.61. The firm has a fifty day moving average of $45.44 and a 200-day moving average of $44.84.

Travel + Leisure (NYSE:TNL – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.08. The company had revenue of $993.00 million for the quarter, compared to analyst estimates of $1.01 billion. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company posted $1.54 EPS. On average, equities analysts forecast that Travel + Leisure Co. will post 5.77 EPS for the current year.

Travel + Leisure Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.00 annualized dividend and a yield of 3.84%. Travel + Leisure’s payout ratio is 33.96%.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, insider Geoffrey Richards sold 5,009 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $52.16, for a total value of $261,269.44. Following the completion of the sale, the insider now directly owns 125,209 shares in the company, valued at $6,530,901.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Geoffrey Richards sold 5,009 shares of Travel + Leisure stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $52.16, for a total transaction of $261,269.44. Following the transaction, the insider now owns 125,209 shares in the company, valued at approximately $6,530,901.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Herrera sold 2,193 shares of the business’s stock in a transaction on 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 sale, the director now owns 6,352 shares in the company, valued at approximately $269,832.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,448 shares of company stock valued at $4,294,241. 4.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Travel + Leisure

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. UMB Bank n.a. increased its stake in shares of Travel + Leisure by 1,948.1% in the third quarter. UMB Bank n.a. now owns 553 shares of the company’s stock worth $25,000 after acquiring an additional 526 shares during the period. Versant Capital Management Inc acquired a new stake in Travel + Leisure during the 2nd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC lifted its holdings in Travel + Leisure by 2,759.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock worth $28,000 after buying an additional 607 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Travel + Leisure in the 2nd quarter valued at approximately $31,000. Finally, Larson Financial Group LLC purchased a new position in shares of Travel + Leisure in the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Travel + Leisure Company Profile

(Get Free Report)

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.

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