Marriot Vacations Worldwide Corporation (NYSE:VAC) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Marriot Vacations Worldwide Corporation (NYSE:VAC) from a buy rating to a hold rating in a research report sent to investors on Thursday, July 13th.

According to Zacks, “Marriott Vacations Worldwide Corporation is a developer, marketer, seller and manager of vacation ownership resorts and vacation club, destination club and exchange programs, principally under the Marriott and Ritz-Carlton brands and trademarks. The Company generates most of its revenues from four primary sources: selling vacation ownership products, managing our resorts, financing consumer purchases of vacation ownership products and renting vacation ownership inventory. “

Other equities analysts have also issued research reports about the company. Telsey Advisory Group cut their target price on Marriot Vacations Worldwide Corporation from $113.00 to $96.00 and set a market perform rating on the stock in a research note on Friday, May 5th. BidaskClub lowered Marriot Vacations Worldwide Corporation from a strong-buy rating to a buy rating in a research note on Friday, June 23rd. Buckingham Research began coverage on Marriot Vacations Worldwide Corporation in a research note on Monday, June 19th. They issued a buy rating and a $142.00 target price on the stock. ValuEngine upgraded Marriot Vacations Worldwide Corporation from a hold rating to a buy rating in a research note on Friday, June 2nd. Finally, Stifel Nicolaus lifted their target price on Marriot Vacations Worldwide Corporation from $102.00 to $120.00 and gave the company a buy rating in a research note on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $116.13.

Shares of Marriot Vacations Worldwide Corporation (VAC) opened at 112.62 on Thursday. Marriot Vacations Worldwide Corporation has a 52-week low of $59.33 and a 52-week high of $128.25. The stock has a 50 day moving average of $117.43 and a 200-day moving average of $105.14. The stock has a market capitalization of $3.06 billion, a P/E ratio of 21.48 and a beta of 1.14.

Marriot Vacations Worldwide Corporation (NYSE:VAC) last released its quarterly earnings data on Thursday, August 3rd. The company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.34. Marriot Vacations Worldwide Corporation had a return on equity of 16.96% and a net margin of 7.90%. The firm had revenue of $497.62 million during the quarter, compared to the consensus estimate of $489.85 million. During the same period in the previous year, the company posted $1.08 earnings per share. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. Analysts predict that Marriot Vacations Worldwide Corporation will post $5.50 EPS for the current fiscal year.

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Marriot Vacations Worldwide Corporation announced that its Board of Directors has authorized a share buyback program on Thursday, August 3rd that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

In other news, VP John E. Geller, Jr. sold 7,366 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $119.70, for a total transaction of $881,710.20. Following the sale, the vice president now owns 82,206 shares in the company, valued at $9,840,058.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO R. Lee Cunningham sold 15,638 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $118.79, for a total value of $1,857,638.02. Following the sale, the chief operating officer now owns 43,922 shares in the company, valued at approximately $5,217,494.38. The disclosure for this sale can be found here. Insiders have sold 42,861 shares of company stock worth $5,110,417 in the last 90 days. Insiders own 3.30% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new stake in shares of Marriot Vacations Worldwide Corporation during the fourth quarter worth approximately $2,844,000. State Street Corp raised its stake in shares of Marriot Vacations Worldwide Corporation by 4.6% in the fourth quarter. State Street Corp now owns 536,735 shares of the company’s stock worth $45,545,000 after buying an additional 23,674 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Marriot Vacations Worldwide Corporation by 94.2% in the fourth quarter. Guggenheim Capital LLC now owns 6,029 shares of the company’s stock worth $511,000 after buying an additional 2,925 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Marriot Vacations Worldwide Corporation by 14.4% in the fourth quarter. AQR Capital Management LLC now owns 24,027 shares of the company’s stock worth $2,038,000 after buying an additional 3,026 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Marriot Vacations Worldwide Corporation by 5.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,080 shares of the company’s stock worth $1,110,000 after buying an additional 630 shares in the last quarter. Hedge funds and other institutional investors own 78.93% of the company’s stock.

About Marriot Vacations Worldwide Corporation

Marriott Vacations Worldwide Corporation focuses on vacation ownership, based on number of owners, number of resorts and revenues. The Company is an exclusive worldwide developer, marketer, seller and manager of vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands.

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