Marriot Vacations Worldwide Corporation (NYSE:VAC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $129.00 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 12.55% from the stock’s previous close.

According to Zacks, “Marriott Vacations Worldwide Corporation is a developer, marketer, seller and manager of vacation ownership resorts and vacation club, destination club and exchange programs, principally under the Marriott and Ritz-Carlton brands and trademarks. The Company generates most of its revenues from four primary sources: selling vacation ownership products, managing our resorts, financing consumer purchases of vacation ownership products and renting vacation ownership inventory. “

Several other research analysts have also recently weighed in on VAC. Janney Montgomery Scott initiated coverage on Marriot Vacations Worldwide Corporation in a research report on Thursday, April 20th. They set a “buy” rating and a $119.00 price objective for the company. Telsey Advisory Group reduced their price objective on Marriot Vacations Worldwide Corporation from $113.00 to $96.00 and set a “market perform” rating for the company in a research report on Friday, May 5th. Deutsche Bank AG upped their price objective on Marriot Vacations Worldwide Corporation from $80.00 to $92.00 and gave the stock a “hold” rating in a research report on Monday, May 8th. Stifel Nicolaus upped their price objective on Marriot Vacations Worldwide Corporation from $102.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, May 22nd. Finally, ValuEngine raised Marriot Vacations Worldwide Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $116.13.

Marriot Vacations Worldwide Corporation (VAC) traded down 0.91% during midday trading on Tuesday, hitting $113.58. The stock had a trading volume of 71,836 shares. The firm has a market cap of $3.08 billion, a P/E ratio of 21.66 and a beta of 1.14. Marriot Vacations Worldwide Corporation has a 52 week low of $59.33 and a 52 week high of $128.25. The stock has a 50-day moving average of $118.04 and a 200-day moving average of $104.92.

Marriot Vacations Worldwide Corporation (NYSE:VAC) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.34. The company had revenue of $497.62 million during the quarter, compared to analysts’ expectations of $489.85 million. Marriot Vacations Worldwide Corporation had a return on equity of 16.96% and a net margin of 7.90%. Marriot Vacations Worldwide Corporation’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 earnings per share. Analysts forecast that Marriot Vacations Worldwide Corporation will post $5.50 EPS for the current fiscal year.

Marriot Vacations Worldwide Corporation declared that its Board of Directors has approved a stock repurchase plan on Thursday, August 3rd that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

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In related news, VP Lizabeth Kane-Hanan sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $119.00, for a total transaction of $595,000.00. Following the completion of the transaction, the vice president now directly owns 27,832 shares of the company’s stock, valued at $3,312,008. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas J. Hutchison III sold 3,599 shares of the stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $118.15, for a total value of $425,221.85. Following the transaction, the director now directly owns 1,281 shares of the company’s stock, valued at $151,350.15. The disclosure for this sale can be found here. Insiders have sold 42,861 shares of company stock valued at $5,110,417 over the last three months. Insiders own 3.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Marriot Vacations Worldwide Corporation by 42,912.0% in the first quarter. BlackRock Inc. now owns 2,875,350 shares of the company’s stock valued at $287,334,000 after buying an additional 2,868,665 shares during the period. Vanguard Group Inc. boosted its position in shares of Marriot Vacations Worldwide Corporation by 10.2% in the first quarter. Vanguard Group Inc. now owns 1,934,276 shares of the company’s stock valued at $193,293,000 after buying an additional 179,768 shares during the period. FMR LLC boosted its position in shares of Marriot Vacations Worldwide Corporation by 73.1% in the first quarter. FMR LLC now owns 1,011,226 shares of the company’s stock valued at $101,052,000 after buying an additional 427,126 shares during the period. State Street Corp boosted its position in shares of Marriot Vacations Worldwide Corporation by 6.8% in the first quarter. State Street Corp now owns 573,397 shares of the company’s stock valued at $57,298,000 after buying an additional 36,662 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Marriot Vacations Worldwide Corporation by 30.7% in the first quarter. Bank of New York Mellon Corp now owns 494,158 shares of the company’s stock valued at $49,381,000 after buying an additional 116,198 shares during the period. 78.93% of the stock is owned by hedge funds and other institutional investors.

About Marriot Vacations Worldwide Corporation

Marriott Vacations Worldwide Corporation focuses on vacation ownership, based on number of owners, number of resorts and revenues. The Company is an exclusive worldwide developer, marketer, seller and manager of vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands.

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