Vail Resorts Receives “Buy” Rating from Bank of America Corp. (MTN)
Vail Resorts (NYSE:MTN)‘s stock had its “buy” rating restated by investment analysts at Bank of America Corp. in a note issued to investors on Monday, AnalystRatings.Net reports. They currently have a $76.00 price target on the stock, up from their previous price target of $72.00. Bank of America Corp.’s price target would suggest a potential upside of 9.21% from the stock’s previous close.
The analysts wrote, “Following solid season pass sales and FY14 guidance, we are raising our FY14E and FY15E Resort EBITDA to $286M and $318M from $280M and $312M, resp. Our new numbers take into account better than expected pass sales at the newly acquired Canyons plus better op leverage in the lodging segment. Based on our new estimates, we are raising our PO to $76 from $72, which continues to represent 9.5-10x our FY15E resort EBITDA.”
Shares of Vail Resorts (NYSE:MTN) traded down 0.26% on Monday, hitting $69.41. 54,580 shares of the company’s stock traded hands. Vail Resorts has a 52-week low of $49.35 and a 52-week high of $71.18. The stock’s 50-day moving average is $68.94 and its 200-day moving average is $64.67. The company has a price-to-earnings ratio of 67.56.
Vail Resorts (NYSE:MTN) last released its earnings data on Friday, September 27th. The company reported ($1.67) earnings per share for the quarter, beating the analysts’ consensus estimate of ($1.71) by $0.04. The company had revenue of $112.30 million for the quarter, compared to the consensus estimate of $117.82 million. During the same quarter last year, the company posted ($1.50) earnings per share. Vail Resorts’s revenue was down 1.1% compared to the same quarter last year. On average, analysts predict that Vail Resorts will post $1.22 earnings per share for the current fiscal year.
Separately, analysts at Zacks upgraded shares of Vail Resorts (NYSE:MTN) from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, August 2nd. They now have a $68.90 price target on the stock. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $70.36.
Vail Resorts, Inc is a holding company. The Company’s operations are grouped into three business segments: Mountain, Lodging and Real Estate.
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