Travel + Leisure Co. (NYSE:TNL - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $57.81 and last traded at $57.36, with a volume of 64847 shares traded. The stock had previously closed at $57.45.
The company reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $971.00 million for the quarter, compared to analysts' expectations of $958.87 million. During the same period in the previous year, the business posted $1.98 EPS. The firm's quarterly revenue was up 3.9% compared to the same quarter last year.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Travel + Leisure from $56.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Stifel Nicolaus lifted their target price on Travel + Leisure from $59.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Bank of America raised Travel + Leisure from an "underperform" rating to a "buy" rating and lifted their target price for the company from $40.00 to $60.00 in a report on Monday, January 27th. Mizuho reaffirmed a "neutral" rating and set a $64.00 target price (up previously from $55.00) on shares of Travel + Leisure in a report on Thursday. Finally, Barclays lifted their target price on Travel + Leisure from $48.00 to $54.00 and gave the company an "underweight" rating in a report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.
Get Our Latest Research Report on TNL
Insider Transactions at Travel + Leisure
In other Travel + Leisure news, insider Geoffrey Richards sold 9,400 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $56.56, for a total value of $531,664.00. Following the completion of the sale, the insider now owns 111,202 shares of the company's stock, valued at $6,289,585.12. This represents a 7.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.02% of the stock is owned by insiders.
Institutional Trading of Travel + Leisure
Several hedge funds and other institutional investors have recently bought and sold shares of TNL. Norges Bank purchased a new stake in Travel + Leisure in the fourth quarter worth approximately $45,804,000. Algert Global LLC lifted its position in Travel + Leisure by 168.9% in the third quarter. Algert Global LLC now owns 319,279 shares of the company's stock valued at $14,712,000 after purchasing an additional 200,549 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Travel + Leisure by 25.1% in the fourth quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company's stock valued at $45,299,000 after purchasing an additional 180,059 shares during the last quarter. Invesco Ltd. lifted its position in Travel + Leisure by 4.8% in the fourth quarter. Invesco Ltd. now owns 3,544,548 shares of the company's stock valued at $178,822,000 after purchasing an additional 163,804 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Travel + Leisure by 21.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company's stock valued at $36,540,000 after purchasing an additional 138,153 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.
Travel + Leisure Stock Down 3.3 %
The company has a 50-day simple moving average of $53.05 and a two-hundred day simple moving average of $49.38. The stock has a market cap of $3.78 billion, a P/E ratio of 9.46, a P/E/G ratio of 0.67 and a beta of 1.64.
About Travel + Leisure
(
Get Free Report)
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.
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