Travel + Leisure (NYSE:TNL) Upgraded by Bank of America to Buy Rating

Bank of America upgraded shares of Travel + Leisure (NYSE:TNL - Free Report) from an underperform rating to a buy rating in a report issued on Monday morning, Marketbeat Ratings reports. They currently have $60.00 target price on the stock, up from their prior target price of $40.00.

A number of other equities analysts have also weighed in on the company. The Goldman Sachs Group upped their target price on Travel + Leisure from $49.00 to $59.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Stifel Nicolaus lifted their price target on Travel + Leisure from $59.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Barclays increased their price objective on Travel + Leisure from $41.00 to $48.00 and gave the stock an "underweight" rating in a research note on Friday, December 13th. JPMorgan Chase & Co. increased their price target on Travel + Leisure from $56.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Finally, Tigress Financial raised their price target on shares of Travel + Leisure from $58.00 to $64.00 and gave the company a "buy" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.55.

Travel + Leisure Stock Up 1.2 %

NYSE:TNL traded up $0.64 during trading hours on Monday, reaching $53.81. The company had a trading volume of 338,822 shares, compared to its average volume of 479,259. The business's 50-day simple moving average is $52.64 and its two-hundred day simple moving average is $48.22. Travel + Leisure has a twelve month low of $39.66 and a twelve month high of $56.91. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 9.14, a P/E/G ratio of 0.68 and a beta of 1.64.

Travel + Leisure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Friday, December 13th. Travel + Leisure's dividend payout ratio (DPR) is presently 33.96%.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, insider Geoffrey Richards sold 4,607 shares of the firm's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $54.25, for a total transaction of $249,929.75. Following the completion of the sale, the insider now directly owns 120,602 shares in the company, valued at approximately $6,542,658.50. This trade represents a 3.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 19,016 shares of company stock valued at $1,042,863 in the last ninety days. 4.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Travel + Leisure

Hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in shares of Travel + Leisure by 1,948.1% in the third quarter. UMB Bank n.a. now owns 553 shares of the company's stock worth $25,000 after purchasing an additional 526 shares during the last quarter. Versant Capital Management Inc raised its position in Travel + Leisure by 49.2% in 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 lifted its stake in Travel + Leisure by 314.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company's stock valued at $33,000 after acquiring an additional 503 shares during the period. Brooklyn Investment Group purchased a new position in shares of Travel + Leisure during the third quarter valued at approximately $43,000. Finally, Capital Performance Advisors LLP bought a new position in Travel + Leisure during the third quarter valued at approximately $44,000. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

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.