JPMorgan Chase & Co. Cuts Vail Resorts (NYSE:MTN) Price Target to $243.00

Vail Resorts (NYSE:MTN) had its price target trimmed by JPMorgan Chase & Co. from $252.00 to $243.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

MTN has been the topic of several other reports. Truist Financial reissued a buy rating and set a $290.00 target price on shares of Vail Resorts in a research note on Friday, January 19th. Bank of America lowered shares of Vail Resorts from a buy rating to a neutral rating and cut their target price for the stock from $285.00 to $250.00 in a research note on Friday, March 8th. Mizuho started coverage on shares of Vail Resorts in a research note on Tuesday, March 26th. They set a buy rating and a $256.00 target price on the stock. Morgan Stanley increased their target price on shares of Vail Resorts from $247.00 to $248.00 and gave the stock an equal weight rating in a research note on Thursday, March 7th. Finally, Stifel Nicolaus reissued a buy rating and set a $263.00 target price on shares of Vail Resorts in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $260.11.

Vail Resorts Trading Down 1.6 %

NYSE:MTN opened at $201.38 on Monday. The firm’s fifty day moving average is $223.63 and its 200-day moving average is $221.05. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.85 and a current ratio of 0.96. Vail Resorts has a 52 week low of $200.21 and a 52 week high of $258.13. The firm has a market cap of $7.65 billion, a P/E ratio of 33.62, a P/E/G ratio of 2.23 and a beta of 1.11.

Vail Resorts (NYSE:MTN) last posted its quarterly earnings data on Monday, March 11th. The company reported $5.76 EPS for the quarter, missing analysts’ consensus estimates of $6.07 by ($0.31). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.15 billion. Vail Resorts had a net margin of 8.44% and a return on equity of 19.16%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.16 earnings per share. Equities analysts expect that Vail Resorts will post 7.64 earnings per share for the current year.

Vail Resorts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 28th were issued a dividend of $2.22 per share. This is an increase from Vail Resorts’s previous quarterly dividend of $2.06. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $8.88 annualized dividend and a yield of 4.41%. Vail Resorts’s dividend payout ratio is presently 148.25%.

Insiders Place Their Bets

In other Vail Resorts news, Director Peter A. Vaughn sold 1,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $222.77, for a total transaction of $222,770.00. Following the transaction, the director now owns 7,592 shares in the company, valued at $1,691,269.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Vail Resorts

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in shares of Vail Resorts by 14,502.1% in the fourth quarter. International Assets Investment Management LLC now owns 48,041 shares of the company’s stock valued at $10,255,000 after purchasing an additional 47,712 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Vail Resorts in the fourth quarter valued at about $1,533,000. Nordea Investment Management AB raised its holdings in shares of Vail Resorts by 2,451.9% in the fourth quarter. Nordea Investment Management AB now owns 417,293 shares of the company’s stock valued at $89,931,000 after purchasing an additional 400,941 shares during the last quarter. Galibier Capital Management Ltd. purchased a new stake in shares of Vail Resorts in the fourth quarter valued at about $3,932,000. Finally, Raymond James & Associates raised its holdings in shares of Vail Resorts by 4.6% in the fourth quarter. Raymond James & Associates now owns 74,599 shares of the company’s stock valued at $15,925,000 after purchasing an additional 3,278 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

About Vail Resorts

Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and regional ski areas in the United States. It operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 41 destination mountain resorts and regional ski areas. This segment is also involved in the ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities.