Zacks Research Upgrades Travel + Leisure (NYSE:TNL) to “Hold”

Travel + Leisure (NYSE:TNL) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

Several other equities research analysts have also issued reports on the stock. Susquehanna decreased their price target on shares of Travel + Leisure from $95.00 to $75.00 and set a “positive” rating on the stock in a report on Thursday, October 15th. JPMorgan Chase & Co. upped their price objective on shares of Travel + Leisure from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 28th. Citigroup restated a “market outperform” rating on shares of Travel + Leisure in a research report on Thursday, July 23rd. Truist Financial decreased their target price on shares of Travel + Leisure from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, September 10th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $86.00 price target on shares of Travel + Leisure in a report on Thursday, October 22nd. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $85.25.

Travel + Leisure Stock Up 3.3%

Shares of TNL stock opened at $77.87 on Tuesday. Travel + Leisure has a twelve month low of $60.34 and a twelve month high of $81.00. The company has a market cap of $4.69 billion, a P/E ratio of 20.93, a P/E/G ratio of 0.74 and a beta of 1.21. The business has a fifty day simple moving average of $66.03 and a 200 day simple moving average of $70.52.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data on Tuesday, October 27th. The company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.16. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 5.66%. Travel + Leisure’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $1.80 earnings per share. As a group, equities research analysts anticipate that Travel + Leisure will post 7.77 earnings per share for the current fiscal year.

Insider Transactions at Travel + Leisure

In related news, CAO Thomas Michael Duncan sold 20,000 shares of Travel + Leisure stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $74.16, for a total transaction of $1,483,200.00. Following the sale, the chief accounting officer directly owned 5,307 shares in the company, valued at $393,567.12. This trade represents a 79.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Travel + Leisure

A number of hedge funds have recently modified their holdings of the business. AlphaCore Capital LLC boosted its stake in shares of Travel + Leisure by 67.8% in the 3rd quarter. AlphaCore Capital LLC now owns 5,990 shares of the company’s stock valued at $371,000 after purchasing an additional 2,421 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in shares of Travel + Leisure during the third quarter worth $97,000. Point Nemo Capital LLC raised its stake in Travel + Leisure by 11.2% during the third quarter. Point Nemo Capital LLC now owns 20,474 shares of the company’s stock worth $1,267,000 after buying an additional 2,061 shares during the last quarter. Childress Capital Advisors LLC bought a new position in Travel + Leisure during the third quarter worth $360,000. Finally, Victory Financial Group LLC acquired a new position in Travel + Leisure in the third quarter valued at $686,000. Institutional investors and hedge funds own 87.54% of the company’s stock.

Travel + Leisure Company Profile

Travel + Leisure Co (NYSE:TNL) is a hospitality and leisure travel company that operates vacation ownership, exchange, and membership businesses. The company provides travelers with access to resort accommodations, vacation experiences, travel services, and related lifestyle offerings through a portfolio of consumer brands.

Its vacation ownership business includes brands such as Club Wyndham, WorldMark by Wyndham, and Margaritaville Vacation Club, offering members interests in vacation properties and access to resort destinations.