Morgan Stanley Lowers Travel + Leisure (NYSE:TNL) Price Target to $52.00

Travel + Leisure (NYSE:TNL - Free Report) had its price objective decreased by Morgan Stanley from $61.00 to $52.00 in a research report released on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other research firms have also issued reports on TNL. Truist Financial increased their target price on Travel + Leisure from $61.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Bank of America upgraded shares of Travel + Leisure from an "underperform" rating to a "buy" rating and lifted their price objective for the company from $40.00 to $60.00 in a research note on Monday, January 27th. Tigress Financial raised their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Mizuho restated a "neutral" rating and issued a $64.00 price target (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Finally, Barclays lifted their price objective on Travel + Leisure from $48.00 to $54.00 and gave the stock an "underweight" rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Travel + Leisure has an average rating of "Moderate Buy" and an average target price of $59.20.

Travel + Leisure Price Performance

Shares of NYSE TNL traded up $0.08 during trading hours on Tuesday, hitting $43.82. 19,600 shares of the stock were exchanged, compared to its average volume of 624,936. Travel + Leisure has a one year low of $37.77 and a one year high of $58.95. The firm has a market capitalization of $2.91 billion, a P/E ratio of 7.50, a P/E/G ratio of 0.67 and a beta of 1.40. The company's 50 day moving average is $47.72 and its 200 day moving average is $50.50.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.01. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The business had revenue of $934.00 million during the quarter, compared to analysts' expectations of $933.08 million. Research analysts anticipate that Travel + Leisure will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 5.11%. This is a boost from Travel + Leisure's previous quarterly dividend of $0.50. The ex-dividend date was Monday, March 17th. Travel + Leisure's payout ratio is presently 38.36%.

Insider Activity

In other Travel + Leisure news, Director George Herrera sold 6,336 shares of the 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 sale, the director now owns 2,759 shares in the company, valued at approximately $129,121.20. This trade represents a 69.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael Dean Brown bought 2,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the acquisition, the insider now directly owns 408,706 shares in the company, valued at $19,070,221.96. This trade represents a 0.49 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.02% of the company's stock.

Institutional Investors Weigh In On Travel + Leisure

A number of hedge funds have recently made changes to their positions in TNL. Jones Financial Companies Lllp purchased a new position in Travel + Leisure in the fourth quarter worth $25,000. Versant Capital Management Inc lifted its position in shares of Travel + Leisure by 49.2% during the 4th quarter. Versant Capital Management Inc now owns 637 shares of the company's stock worth $32,000 after buying an additional 210 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Travel + Leisure by 314.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company's stock worth $33,000 after buying an additional 503 shares during the last quarter. Natixis purchased a new stake in shares of Travel + Leisure in the fourth quarter valued at about $37,000. Finally, UMB Bank n.a. raised its stake in Travel + Leisure by 36.9% during the fourth quarter. UMB Bank n.a. now owns 757 shares of the company's stock worth $38,000 after purchasing an additional 204 shares during the period. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

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.