Travel + Leisure (NYSE:TNL) Given New $66.00 Price Target at Stifel Nicolaus

Travel + Leisure (NYSE:TNL) had its target price raised by Stifel Nicolaus from $59.00 to $66.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

TNL has been the subject of several other research reports. Barclays increased their price objective on shares of Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. The Goldman Sachs Group increased their target price on shares of Travel + Leisure from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Truist Financial cut their price target on shares of Travel + Leisure from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Finally, Tigress Financial increased their price target on Travel + Leisure from $58.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, November 1st. 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.80.

Travel + Leisure Stock Performance

Travel + Leisure stock opened at $55.87 on Tuesday. Travel + Leisure has a one year low of $35.41 and a one year high of $56.91. The stock has a market cap of $3.82 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 0.80 and a beta of 1.61. The stock has a fifty day moving average of $49.19 and a 200 day moving average of $45.89.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.08. The company had revenue of $993.00 million during the quarter, compared to analyst estimates of $1.01 billion. Travel + Leisure had a net margin of 10.99% and a negative return on equity of 48.06%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 EPS. As a group, sell-side analysts predict that Travel + Leisure will post 5.75 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Friday, December 13th. Travel + Leisure’s payout ratio is 33.96%.

Insider Activity at Travel + Leisure

In related news, Director Stephen P. Holmes sold 80,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $47.55, for a total transaction of $3,804,000.00. Following the sale, the director now owns 362,947 shares of the company’s stock, valued at $17,258,129.85. This trade represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director George Herrera sold 2,193 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total transaction of $93,158.64. Following the sale, the director now directly owns 6,352 shares of the company’s stock, valued at approximately $269,832.96. The trade was a 25.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,455 shares of company stock worth $5,075,834 over the last three months. 4.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Travel + Leisure

Several hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of Travel + Leisure by 1.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 392,299 shares of the company’s stock valued at $19,208,000 after purchasing an additional 7,392 shares during the period. Swedbank AB purchased a new position in shares of Travel + Leisure during the first quarter worth $33,598,000. Cetera Advisors LLC acquired a new position in Travel + Leisure during the first quarter valued at $206,000. Abich Financial Wealth Management LLC boosted its holdings in Travel + Leisure by 10,344.4% in the first quarter. Abich Financial Wealth Management LLC now owns 940 shares of the company’s stock valued at $46,000 after purchasing an additional 931 shares during the last quarter. Finally, Versant Capital Management Inc acquired a new stake in Travel + Leisure during the 2nd quarter worth about $27,000. Institutional investors and hedge funds 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.