Brokerages Set Travel + Leisure Co. (NYSE:TNL) Price Target at $63.70

Travel + Leisure Co. (NYSE:TNL) has received a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $63.70.

A number of equities research analysts have recently commented on the stock. Barclays raised their price objective on shares of Travel + Leisure from $48.00 to $54.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Bank of America raised shares of Travel + Leisure from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $60.00 in a research note on Monday, January 27th. Truist Financial lifted their price target on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Tigress Financial lifted their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th.

Insider Transactions at Travel + Leisure

In other news, insider Michael Dean Brown bought 2,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $46.66 per share, with a total value of $93,320.00. Following the transaction, the insider now directly owns 408,706 shares in the company, valued at $19,070,221.96. The trade was a 0.49 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value of $296,524.80. Following the completion of the transaction, the director now directly owns 2,759 shares of the company’s stock, valued at approximately $129,121.20. This represents a 69.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.02% of the company’s stock.

Hedge Funds Weigh In On Travel + Leisure

Several institutional investors have recently bought and sold shares of TNL. Norges Bank acquired a new position in Travel + Leisure in the 4th quarter valued at about $45,804,000. Algert Global LLC grew its position in shares of Travel + Leisure by 168.9% during the third quarter. Algert Global LLC now owns 319,279 shares of the company’s stock worth $14,712,000 after buying an additional 200,549 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Travel + Leisure by 25.1% during the fourth quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company’s stock worth $45,299,000 after buying an additional 180,059 shares in the last quarter. Invesco Ltd. grew its position in shares of Travel + Leisure by 4.8% during the fourth quarter. Invesco Ltd. now owns 3,544,548 shares of the company’s stock worth $178,822,000 after buying an additional 163,804 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Travel + Leisure by 21.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company’s stock worth $36,540,000 after buying an additional 138,153 shares in the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

Travel + Leisure Trading Down 1.0 %

TNL opened at $47.12 on Tuesday. Travel + Leisure has a 12-month low of $39.91 and a 12-month high of $58.95. The firm has a market capitalization of $3.14 billion, a PE ratio of 8.07, a P/E/G ratio of 0.67 and a beta of 1.61. The firm has a 50 day moving average of $53.37 and a two-hundred day moving average of $50.75.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. The business had revenue of $971.00 million for the quarter, compared to analysts’ expectations of $958.87 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $1.98 EPS. As a group, analysts predict that Travel + Leisure will post 6.46 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s payout ratio is currently 38.36%.

Travel + Leisure Company Profile

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.