Travel + Leisure (NYSE:TNL) Given New $83.00 Price Target at Morgan Stanley

Travel + Leisure (NYSE:TNL) had its price target boosted by Morgan Stanley from $78.00 to $83.00 in a research note released on Friday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group raised Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Monday, June 1st. Barclays reduced their target price on shares of Travel + Leisure from $78.00 to $74.00 and set an “equal weight” rating for the company in a research note on Thursday, April 23rd. Wells Fargo & Company reduced their price objective on shares of Travel + Leisure from $88.00 to $87.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Weiss Ratings raised Travel + Leisure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Finally, Mizuho lowered their price target on Travel + Leisure from $107.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Travel + Leisure presently has a consensus rating of “Moderate Buy” and an average target price of $85.90.

Travel + Leisure Stock Down 2.7%

Travel + Leisure stock opened at $73.43 on Friday. The firm has a 50-day moving average price of $71.47 and a two-hundred day moving average price of $71.61. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 0.58 and a beta of 1.16. Travel + Leisure has a 52-week low of $56.29 and a 52-week high of $81.00.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.14. The business had revenue of $961.00 million during the quarter, compared to analyst estimates of $954.80 million. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 5.85%.The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.11 EPS. Research analysts expect that Travel + Leisure will post 7.47 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 12th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $2.40 annualized dividend and a yield of 3.3%. Travel + Leisure’s dividend payout ratio (DPR) is currently 67.42%.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, Director George Herrera sold 500 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the transaction, the director owned 1,353 shares in the company, valued at approximately $101,691.48. This represents a 26.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kimberly Marshall sold 28,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $70.17, for a total transaction of $1,964,760.00. Following the completion of the sale, the insider owned 33,191 shares of the company’s stock, valued at approximately $2,329,012.47. This represents a 45.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 31,000 shares of company stock valued at $2,161,915. 4.01% of the stock is currently owned by company insiders.

Institutional Trading of Travel + Leisure

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Baron Wealth Management LLC raised its holdings in Travel + Leisure by 2.8% in the first quarter. Baron Wealth Management LLC now owns 4,953 shares of the company’s stock worth $343,000 after purchasing an additional 133 shares during the period. Diversified Trust Co lifted its holdings in shares of Travel + Leisure by 0.7% in the first quarter. Diversified Trust Co now owns 19,393 shares of the company’s stock valued at $1,342,000 after purchasing an additional 137 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Travel + Leisure by 2.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,790 shares of the company’s stock valued at $408,000 after acquiring an additional 148 shares in the last quarter. Evolve Private Wealth LLC boosted its holdings in Travel + Leisure by 1.7% during the first quarter. Evolve Private Wealth LLC now owns 9,270 shares of the company’s stock worth $641,000 after purchasing an additional 156 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Travel + Leisure by 19.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,148 shares of the company’s stock worth $59,000 after buying an additional 189 shares during the last quarter. Institutional investors own 87.54% of the company’s stock.

About Travel + Leisure

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.