Truist Financial Increases Travel + Leisure (NYSE:TNL) Price Target to $72.00

Travel + Leisure (NYSE:TNL - Free Report) had its price objective hoisted by Truist Financial from $61.00 to $72.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently weighed in on TNL. JPMorgan Chase & Co. increased their price objective on shares of Travel + Leisure from $56.00 to $63.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Stifel Nicolaus upped their price target on shares of Travel + Leisure from $59.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Barclays lifted their price objective on Travel + Leisure from $48.00 to $54.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Morgan Stanley initiated coverage on Travel + Leisure in a research report on Monday, January 6th. They set an "overweight" rating and a $67.00 target price on the stock. Finally, The Goldman Sachs Group raised their target price on Travel + Leisure from $49.00 to $59.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. One equities research 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, the stock has an average rating of "Moderate Buy" and an average price target of $63.70.

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Travel + Leisure Stock Up 0.2 %

Shares of NYSE TNL traded up $0.12 during trading on Friday, reaching $53.61. The company had a trading volume of 731,494 shares, compared to its average volume of 570,794. The stock has a market cap of $3.58 billion, a P/E ratio of 9.18, a PEG ratio of 0.67 and a beta of 1.61. The company's fifty day moving average price is $53.86 and its 200-day moving average price is $50.44. Travel + Leisure has a 12 month low of $39.91 and a 12 month high of $58.95.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted 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 company had revenue of $971.00 million for the quarter, compared to analyst estimates of $958.87 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The firm's quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 earnings per share. As a group, equities analysts predict that Travel + Leisure will post 6.46 earnings per share for the current year.

Travel + Leisure Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $2.24 annualized dividend and a yield of 4.18%. This is a positive change from Travel + Leisure's previous quarterly dividend of $0.50. Travel + Leisure's dividend payout ratio is presently 34.25%.

Institutional Investors Weigh In On Travel + Leisure

Several hedge funds and other institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in shares of Travel + Leisure by 4.4% during the third quarter. Janney Montgomery Scott LLC now owns 45,512 shares of the company's stock worth $2,097,000 after acquiring an additional 1,929 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Travel + Leisure by 4.6% during the 3rd quarter. QRG Capital Management Inc. now owns 18,826 shares of the company's stock valued at $867,000 after purchasing an additional 821 shares during the last quarter. Foster & Motley Inc. acquired a new position in Travel + Leisure during the 3rd quarter valued at about $478,000. Summit Global Investments bought a new stake in Travel + Leisure during the 3rd quarter worth approximately $428,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Travel + Leisure in the third quarter worth approximately $44,000. Institutional investors 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.