Morgan Stanley Cuts Hilton Grand Vacations (NYSE:HGV) Price Target to $54.00

Hilton Grand Vacations (NYSE:HGV) had its price objective lowered by Morgan Stanley from $58.00 to $54.00 in a report published on Tuesday, MarketBeat reports. The brokerage currently has an equal weight rating on the stock.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group dropped their price target on Hilton Grand Vacations from $55.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Wall Street Zen downgraded shares of Hilton Grand Vacations from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Hilton Grand Vacations in a report on Friday, May 29th. Barclays dropped their target price on shares of Hilton Grand Vacations from $51.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, July 31st. Finally, Zacks Research downgraded shares of Hilton Grand Vacations from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Hilton Grand Vacations presently has an average rating of “Hold” and an average target price of $54.89.

Hilton Grand Vacations Price Performance

Hilton Grand Vacations stock opened at $44.83 on Tuesday. The firm has a market cap of $3.48 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 0.45 and a beta of 1.53. The company has a debt-to-equity ratio of 6.18, a current ratio of 5.02 and a quick ratio of 3.20. The stock’s fifty day moving average price is $49.33 and its two-hundred day moving average price is $47.03. Hilton Grand Vacations has a one year low of $36.79 and a one year high of $55.40.

Hilton Grand Vacations (NYSE:HGV) last released its earnings results on Thursday, July 30th. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.05). The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. Hilton Grand Vacations had a net margin of 2.86% and a return on equity of 20.40%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 earnings per share. As a group, research analysts expect that Hilton Grand Vacations will post 4.61 EPS for the current fiscal year.

Hilton Grand Vacations declared that its board has approved a share repurchase program on Thursday, August 20th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the company to buy up to 17% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Hilton Grand Vacations

In other Hilton Grand Vacations news, insider Charles R. Jr. Corbin sold 20,691 shares of Hilton Grand Vacations stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $46.90, for a total value of $970,407.90. Following the transaction, the insider owned 47,924 shares in the company, valued at $2,247,635.60. The trade was a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark D. Wang sold 190,813 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $51.93, for a total value of $9,908,919.09. Following the transaction, the insider directly owned 904,241 shares of the company’s stock, valued at approximately $46,957,235.13. The trade was a 17.42% decrease in their position. The SEC filing for this sale provides additional information. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hilton Grand Vacations

Hedge funds have recently made changes to their positions in the stock. Persistent Asset Partners Ltd acquired a new position in Hilton Grand Vacations during the 2nd quarter worth approximately $63,000. Bard Associates Inc. acquired a new stake in Hilton Grand Vacations in the fourth quarter valued at approximately $29,000. EverSource Wealth Advisors LLC boosted its position in Hilton Grand Vacations by 743.4% in the second quarter. EverSource Wealth Advisors LLC now owns 641 shares of the company’s stock valued at $27,000 after buying an additional 565 shares in the last quarter. Leonteq Securities AG grew its stake in shares of Hilton Grand Vacations by 189.7% during the first quarter. Leonteq Securities AG now owns 672 shares of the company’s stock worth $26,000 after buying an additional 440 shares during the last quarter. Finally, Allworth Financial LP bought a new stake in shares of Hilton Grand Vacations during the second quarter worth $43,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Hilton Grand Vacations Company Profile

Hilton Grand Vacations Inc is a leading developer and marketer of premium vacation ownership resorts. The company specializes in selling timeshare interests in vacation properties under the Hilton Grand Vacations brand, enabling members to purchase deeded real estate interests and utilize a points-based system for booking stays. Alongside new sales, the company provides ongoing management services for its portfolio of resorts, ensuring high standards of guest services, resort maintenance, and member engagement through its proprietary technology platform.

In addition to vacation ownership sales, Hilton Grand Vacations offers a comprehensive suite of membership benefits.