Travel + Leisure (NYSE:TNL) Cut to Underweight at Barclays

by · The Cerbat Gem

Barclays lowered shares of Travel + Leisure (NYSE:TNL – Free Report) from an equal weight rating to an underweight rating in a research note published on Thursday, Marketbeat reports. They currently have $40.00 price target on the stock, down from their prior price target of $46.00.

Several other research firms have also issued reports on TNL. The Goldman Sachs Group assumed coverage on Travel + Leisure in a research note on Wednesday, September 18th. They set a neutral rating and a $44.00 price objective for the company. Tigress Financial boosted their price objective on Travel + Leisure from $54.00 to $58.00 and gave the stock a buy rating in a report on Monday, July 29th. Truist Financial lowered their target price on shares of Travel + Leisure from $65.00 to $60.00 and set a buy rating on the stock in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Travel + Leisure from $65.00 to $62.00 and set a buy rating for the company in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Travel + Leisure from $53.00 to $63.00 and gave the company an overweight rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Travel + Leisure has a consensus rating of Moderate Buy and an average target price of $54.33.

View Our Latest Stock Report on TNL

Travel + Leisure Stock Up 1.4 %

TNL stock opened at $46.59 on Thursday. Travel + Leisure has a twelve month low of $32.10 and a twelve month high of $49.91. The firm has a market capitalization of $3.25 billion, a PE ratio of 8.58, a PEG ratio of 0.63 and a beta of 1.62. The stock has a 50-day simple moving average of $43.67 and a two-hundred day simple moving average of $44.72.

Travel + Leisure (NYSE:TNL – Get Free Report) last posted its earnings results on Wednesday, July 24th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Travel + Leisure had a net margin of 11.35% and a negative return on equity of 46.63%. The business had revenue of $985.00 million for the quarter, compared to analyst estimates of $987.20 million. During the same quarter in the prior year, the firm posted $1.33 EPS. Travel + Leisure’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts anticipate that Travel + Leisure will post 5.67 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Friday, September 13th. Travel + Leisure’s payout ratio is presently 36.83%.

Insider Buying and Selling at Travel + Leisure

In other news, Director George Herrera sold 2,193 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total transaction of $93,158.64. Following the transaction, the director now directly owns 6,352 shares of the company’s stock, valued at $269,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director George Herrera sold 2,193 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total transaction of $93,158.64. Following the completion of the sale, the director now directly owns 6,352 shares in the company, valued at approximately $269,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Amandine Robin-Caplan sold 3,246 shares of Travel + Leisure stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $41.84, for a total value of $135,812.64. Following the completion of the transaction, the insider now directly owns 24,491 shares in the company, valued at $1,024,703.44. The disclosure for this sale can be found here. Company insiders own 4.02% of the company’s stock.

Institutional Investors Weigh In On Travel + Leisure

Institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new position in shares of Travel + Leisure during the second quarter valued at about $27,000. Allspring Global Investments Holdings LLC increased its holdings in Travel + Leisure by 2,759.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock valued at $28,000 after purchasing an additional 607 shares during the period. Family Firm Inc. bought a new position in Travel + Leisure during the 2nd quarter valued at approximately $31,000. Larson Financial Group LLC purchased a new stake in Travel + Leisure in the 2nd quarter worth approximately $36,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Travel + Leisure in the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 87.54% of the company’s stock.

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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