Travel + Leisure (NYSE:TNL) Upgraded to Strong-Buy at Susquehanna

Susquehanna upgraded shares of Travel + Leisure (NYSE:TNL) to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other equities analysts have also issued reports on the company. Mizuho increased their price objective on Travel + Leisure from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Wall Street Zen lowered Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Zacks Research raised Travel + Leisure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Barclays raised their price target on Travel + Leisure from $74.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Travel + Leisure from $87.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $87.82.

Travel + Leisure Stock Down 1.8%

Travel + Leisure stock opened at $72.33 on Tuesday. The firm has a 50-day moving average price of $75.22 and a two-hundred day moving average price of $72.09. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 0.51 and a beta of 1.17. Travel + Leisure has a 52-week low of $57.86 and a 52-week high of $81.00.

Travel + Leisure (NYSE:TNL) last posted its earnings results on Wednesday, July 22nd. The company reported $1.88 EPS for the quarter, hitting the consensus estimate of $1.88. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. Travel + Leisure’s quarterly revenue was up 4.4% on a year-over-year basis. Research analysts expect that Travel + Leisure will post 7.68 earnings per share for the current year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, September 16th. Travel + Leisure’s dividend payout ratio is 65.57%.

Insider Buying and Selling

In related news, insider Kimberly Marshall sold 32,691 shares of Travel + Leisure stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $75.00, for a total value of $2,451,825.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George Herrera sold 500 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $37,580.00. Following the completion of the transaction, the director directly owned 1,353 shares in the company, valued at approximately $101,691.48. This trade represents a 26.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 95,135 shares of company stock worth $7,022,699 in the last three months. 4.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TNL. Empowered Funds LLC acquired a new position in Travel + Leisure in the second quarter worth approximately $621,000. United Capital Financial Advisors LLC bought a new stake in Travel + Leisure in the second quarter worth approximately $648,000. Public Employees Retirement System of Ohio acquired a new position in shares of Travel + Leisure during the 2nd quarter worth $1,416,000. Redwood Investment Management LLC acquired a new position in shares of Travel + Leisure during the 2nd quarter worth $1,166,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Travel + Leisure during the 2nd quarter valued at $234,000. 87.54% of the stock is owned by institutional investors and hedge funds.

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.