Travel + Leisure (NYSE:TNL) Now Covered by Analysts at JPMorgan Chase & Co.

Investment analysts at JPMorgan Chase & Co. started coverage on shares of Travel + Leisure (NYSE:TNL) in a report released on Thursday, Briefing.com reports. The firm set a “neutral” rating and a $70.00 price target on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 11.19% from the company’s current price.

A number of other brokerages have also issued reports on TNL. Zacks Research lowered Travel + Leisure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Susquehanna initiated coverage on Travel + Leisure in a research note on Tuesday, August 18th. They issued a “positive” rating and a $95.00 price objective for the company. Citigroup reiterated a “market outperform” rating on shares of Travel + Leisure in a research report on Thursday, July 23rd. Wells Fargo & Company lifted their target price on Travel + Leisure from $87.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Truist Financial decreased their price target 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. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.58.

Travel + Leisure Price Performance

Shares of NYSE:TNL opened at $62.95 on Thursday. The company has a market capitalization of $3.85 billion, a P/E ratio of 17.20, a P/E/G ratio of 0.63 and a beta of 1.19. Travel + Leisure has a 1-year low of $58.07 and a 1-year high of $81.00. The firm’s 50 day simple moving average is $68.78 and its two-hundred day simple moving average is $70.49.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.88. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Travel + Leisure will post 7.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Travel + Leisure news, insider Geoffrey Richards sold 33,744 shares of Travel + Leisure stock in a transaction 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 transaction, the insider directly owned 1,600 shares of the company’s stock, valued at $121,040. This trade represents a 95.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Thomas Michael Duncan sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $74.16, for a total transaction of $1,483,200.00. Following the completion of the sale, the chief accounting officer owned 5,307 shares in the company, valued at approximately $393,567.12. This trade represents a 79.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 86,635 shares of company stock valued at $6,503,559 in the last three months. Corporate insiders own 4.01% of the company’s stock.

Institutional Investors Weigh In On Travel + Leisure

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNL. BlackRock Inc. bought a new stake in shares of Travel + Leisure in the 2nd quarter valued at approximately $543,957,000. State Street Corp raised its holdings in Travel + Leisure by 0.4% during the 2nd quarter. State Street Corp now owns 2,157,772 shares of the company’s stock valued at $164,919,000 after buying an additional 7,641 shares during the period. Quantinno Capital Management LP raised its holdings in Travel + Leisure by 21.7% during the 1st quarter. Quantinno Capital Management LP now owns 1,305,515 shares of the company’s stock valued at $90,329,000 after buying an additional 232,711 shares during the period. Envestnet Asset Management Inc. lifted its position in Travel + Leisure by 5.3% in the second quarter. Envestnet Asset Management Inc. now owns 802,110 shares of the company’s stock worth $61,305,000 after buying an additional 40,573 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Travel + Leisure during the second quarter worth $55,087,000. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

About Travel + Leisure

Travel + Leisure Co (NYSE:TNL) is a global hospitality and leisure company focused primarily on vacation ownership, membership, and travel services. Its portfolio includes vacation-ownership programs and resorts operated under brands such as Club Wyndham, WorldMark by Wyndham, Margaritaville Vacation Club, and other affiliated offerings. These programs provide members with access to vacation accommodations, resort stays, and travel-related benefits.

The company also operates travel-exchange and membership businesses that enable customers to exchange timeshare interests, arrange accommodations, and access travel experiences.