The Goldman Sachs Group Forecasts Strong Price Appreciation for Travel + Leisure (NYSE:TNL) Stock

Travel + Leisure (NYSE:TNL - Free Report) had its price objective hoisted by The Goldman Sachs Group from $49.00 to $59.00 in a research note released on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Other analysts also recently issued research reports about the company. Tigress Financial increased their target price on Travel + Leisure from $58.00 to $64.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Stifel Nicolaus raised their price objective on shares of Travel + Leisure from $59.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Barclays increased their price target on shares of Travel + Leisure from $40.00 to $41.00 and gave the company an "underweight" rating in a report on Thursday, October 24th. Finally, Truist Financial boosted their price objective on shares of Travel + Leisure from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $57.80.

Travel + Leisure Price Performance

Shares of TNL stock traded down $0.14 during trading on Tuesday, reaching $53.81. The company had a trading volume of 622,504 shares, compared to its average volume of 583,501. Travel + Leisure has a one year low of $36.77 and a one year high of $56.91. The firm's 50 day simple moving average is $50.52 and its two-hundred day simple moving average is $46.40. The company has a market capitalization of $3.68 billion, a PE ratio of 9.16, a PEG ratio of 0.80 and a beta of 1.63.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.57 earnings per share (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 business had revenue of $993.00 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $1.54 EPS. Travel + Leisure's quarterly revenue was up .7% compared to the same quarter last year. 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 paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.00 dividend on an annualized basis and a yield of 3.72%. Travel + Leisure's payout ratio is currently 33.96%.

Insiders Place Their Bets

In other news, insider Geoffrey Richards sold 9,400 shares of Travel + Leisure stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $56.56, for a total value of $531,664.00. Following the completion of the transaction, the insider now owns 111,202 shares in the company, valued at approximately $6,289,585.12. The trade was a 7.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Amandine Robin-Caplan sold 3,246 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $41.84, for a total value of $135,812.64. Following the sale, the insider now owns 24,491 shares in the company, valued at approximately $1,024,703.44. This trade represents a 11.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,455 shares of company stock worth $5,075,834 over the last quarter. Company insiders own 4.02% of the company's stock.

Hedge Funds Weigh In On Travel + Leisure

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. lifted its position in shares of Travel + Leisure by 182.9% during the third quarter. Franklin Resources Inc. now owns 51,216 shares of the company's stock worth $2,337,000 after purchasing an additional 33,111 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Travel + Leisure by 168.3% during the third quarter. Sanctuary Advisors LLC now owns 16,550 shares of the company's stock valued at $763,000 after acquiring an additional 10,382 shares during the period. Neo Ivy Capital Management acquired a new position in Travel + Leisure during the 3rd quarter valued at about $1,180,000. Barclays PLC boosted its stake in shares of Travel + Leisure by 80.4% in the 3rd quarter. Barclays PLC now owns 225,326 shares of the company's stock valued at $10,383,000 after purchasing an additional 100,440 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its holdings in Travel + Leisure by 3.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 29,516 shares of the company's stock worth $1,360,000 after acquiring an additional 853 shares during the period. Institutional investors and hedge funds own 87.54% of the company's stock.

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.