Travel + Leisure (NYSE:TNL) Sets New 12-Month Low - Here's Why

Travel + Leisure Co. (NYSE:TNL - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $39.80 and last traded at $41.01, with a volume of 542988 shares traded. The stock had previously closed at $42.84.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Mizuho reaffirmed a "neutral" rating and issued a $64.00 price objective (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Bank of America upgraded shares of Travel + Leisure from an "underperform" rating to a "buy" rating and raised their target price for the company from $40.00 to $60.00 in a research note on Monday, January 27th. The Goldman Sachs Group raised their price objective on Travel + Leisure from $49.00 to $59.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Morgan Stanley began coverage on shares of Travel + Leisure in a research note on Monday, January 6th. They issued an "overweight" rating and a $67.00 target price for the company. Finally, Barclays increased their target price on Travel + Leisure from $48.00 to $54.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $63.70.

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Travel + Leisure Stock Up 13.2 %

The stock has a market capitalization of $2.93 billion, a P/E ratio of 7.52, a PEG ratio of 0.67 and a beta of 1.40. The business has a 50-day simple moving average of $50.80 and a two-hundred day simple moving average of $50.86.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.04. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The firm had revenue of $971.00 million for the quarter, compared to analyst estimates of $958.87 million. During the same period in the previous year, the company posted $1.98 earnings per share. The company's revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.56 per share. The ex-dividend date was Monday, March 17th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.10%. This is a boost from Travel + Leisure's previous quarterly dividend of $0.50. Travel + Leisure's payout ratio is 38.36%.

Insider Activity

In related news, Director George Herrera sold 6,336 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the transaction, the director now directly owns 2,759 shares in the company, valued at approximately $129,121.20. The trade was a 69.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Dean Brown bought 2,000 shares of the stock in a transaction on Thursday, March 13th. The shares were acquired 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 approximately $19,070,221.96. This trade represents a 0.49 % increase in their ownership of the stock. 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its holdings in shares of Travel + Leisure by 4.8% in the 4th quarter. Invesco Ltd. now owns 3,544,548 shares of the company's stock valued at $178,822,000 after acquiring an additional 163,804 shares during the last quarter. Copeland Capital Management LLC increased its stake in Travel + Leisure by 0.8% during the 4th quarter. Copeland Capital Management LLC now owns 1,565,581 shares of the company's stock valued at $78,984,000 after purchasing an additional 12,111 shares in the last quarter. AQR Capital Management LLC increased its holdings in Travel + Leisure by 4.3% in the 4th quarter. AQR Capital Management LLC now owns 1,424,035 shares of the company's stock worth $71,358,000 after buying an additional 58,944 shares during the period. Northern Trust Corp lifted its holdings in shares of Travel + Leisure by 9.6% in the 4th quarter. Northern Trust Corp now owns 1,036,703 shares of the company's stock valued at $52,302,000 after buying an additional 90,553 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Travel + Leisure by 15.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company's stock worth $46,169,000 after buying an additional 122,173 shares in the last quarter. Hedge funds and other 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.