Morgan Stanley Lowers Travel + Leisure (NYSE:TNL) Price Target to $52.00

Travel + Leisure (NYSE:TNL) had its target price cut by stock analysts at Morgan Stanley from $61.00 to $52.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 20.73% from the stock’s previous close.

A number of other research analysts have also recently weighed in on TNL. Mizuho restated a “neutral” rating and issued a $64.00 price target (up previously from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Bank of America upgraded Travel + Leisure from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $60.00 in a report on Monday, January 27th. Tigress Financial boosted their target price on shares of Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Barclays upped their price target on Travel + Leisure from $48.00 to $54.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Finally, Truist Financial increased their price objective on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.70.

Travel + Leisure Stock Performance

Shares of TNL opened at $43.07 on Tuesday. Travel + Leisure has a 1 year low of $37.77 and a 1 year high of $58.95. The company’s fifty day moving average is $47.98 and its two-hundred day moving average is $50.52. The stock has a market capitalization of $2.86 billion, a P/E ratio of 7.38, a P/E/G ratio of 0.67 and a beta of 1.40.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.01). The business had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $933.08 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. Sell-side analysts predict that Travel + Leisure will post 6.46 EPS for the current year.

Insider Activity

In other news, Director George Herrera sold 6,336 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the completion of the transaction, the director now owns 2,759 shares in the company, valued at approximately $129,121.20. This represents a 69.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Dean Brown bought 2,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $46.66 per share, with a total value of $93,320.00. Following the transaction, the insider now owns 408,706 shares in the company, valued at $19,070,221.96. The trade was a 0.49 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 4.02% of the company’s stock.

Institutional Trading of Travel + Leisure

Several large investors have recently added to or reduced their stakes in TNL. Vista Investment Partners LLC bought a new position in Travel + Leisure in the 1st quarter valued at about $2,127,000. QRG Capital Management Inc. lifted its stake in Travel + Leisure by 12.1% during the first quarter. QRG Capital Management Inc. now owns 22,257 shares of the company’s stock valued at $1,030,000 after buying an additional 2,408 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Travel + Leisure by 3.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 49,397 shares of the company’s stock valued at $2,287,000 after acquiring an additional 1,672 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Travel + Leisure in the first quarter worth $724,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Travel + Leisure by 5.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,018 shares of the company’s stock worth $1,945,000 after acquiring an additional 2,063 shares during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Travel + Leisure Company Profile

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.