Zacks Research Downgrades Travel + Leisure (NYSE:TNL) to Hold

Travel + Leisure (NYSE:TNL) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on TNL. Weiss Ratings reissued a “buy (b-)” rating on shares of Travel + Leisure in a research report on Tuesday, July 21st. Wall Street Zen downgraded Travel + Leisure from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Susquehanna initiated coverage on shares of Travel + Leisure in a research report on Tuesday. They issued a “positive” rating and a $95.00 target price for the company. Wells Fargo & Company upped their target price on Travel + Leisure from $87.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, Mizuho lifted their target price on Travel + Leisure from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $87.82.

Travel + Leisure Trading Down 3.3%

Shares of NYSE TNL opened at $70.59 on Wednesday. The firm has a market cap of $4.32 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 0.50 and a beta of 1.17. The business’s 50 day moving average is $75.20 and its 200-day moving average is $72.12. Travel + Leisure has a 1-year low of $57.86 and a 1-year high of $81.00.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.88. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 EPS. Analysts forecast that Travel + Leisure will post 7.66 EPS for the current year.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, insider Kimberly Marshall sold 32,691 shares of the stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $75.00, for a total transaction of $2,451,825.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Geoffrey Richards sold 33,744 shares of Travel + Leisure stock in a transaction on Monday, July 27th. The shares were sold at an average price of $75.65, for a total transaction of $2,552,733.60. Following the completion of the sale, the insider directly owned 1,600 shares of the company’s stock, valued at approximately $121,040. This trade represents a 95.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 95,135 shares of company stock worth $7,022,699. Company insiders own 4.01% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TNL. First Bancorp Inc ME bought a new position in shares of Travel + Leisure in the second quarter valued at approximately $27,000. Danske Bank A S bought a new stake in shares of Travel + Leisure in the third quarter valued at $30,000. Elevation Wealth Partners LLC increased its stake in shares of Travel + Leisure by 413.3% in the second quarter. Elevation Wealth Partners LLC now owns 462 shares of the company’s stock worth $35,000 after purchasing an additional 372 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in Travel + Leisure during the 4th quarter valued at $43,000. Finally, Assetmark Inc. grew its holdings in Travel + Leisure by 43.8% during the 1st quarter. Assetmark Inc. now owns 627 shares of the company’s stock valued at $43,000 after buying an additional 191 shares in the last quarter. 87.54% of the stock is owned by institutional investors.

Travel + Leisure Company Profile

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.