Travel + Leisure (NYSE:TNL) Price Target Raised to $70.00

Travel + Leisure (NYSE:TNL) had its target price upped by Tigress Financial from $64.00 to $70.00 in a research report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

TNL has been the topic of a number of other reports. Barclays increased their target price on shares of Travel + Leisure from $48.00 to $54.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Stifel Nicolaus increased their target price on shares of Travel + Leisure from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. increased their target price on shares of Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Bank of America raised shares of Travel + Leisure from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $60.00 in a report on Monday, January 27th. Finally, The Goldman Sachs Group increased their price objective on shares of Travel + Leisure from $49.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $63.70.

Travel + Leisure Price Performance

NYSE TNL opened at $53.61 on Thursday. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 0.67 and a beta of 1.61. Travel + Leisure has a 12 month low of $39.91 and a 12 month high of $58.95. The company’s fifty day moving average price is $53.86 and its two-hundred day moving average price is $50.44.

Travel + Leisure (NYSE:TNL) last issued its earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. The company had revenue of $971.00 million for the quarter, compared to analysts’ expectations of $958.87 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.98 earnings per share. As a group, analysts anticipate that Travel + Leisure will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.56 per share. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, March 17th. This represents a $2.24 annualized dividend and a yield of 4.18%. Travel + Leisure’s dividend payout ratio (DPR) is presently 34.25%.

Hedge Funds Weigh In On Travel + Leisure

Several large investors have recently bought and sold shares of TNL. Norges Bank acquired a new position in Travel + Leisure during the 4th quarter valued at about $45,804,000. Algert Global LLC increased its stake in Travel + Leisure by 168.9% during the 3rd quarter. Algert Global LLC now owns 319,279 shares of the company’s stock valued at $14,712,000 after buying an additional 200,549 shares during the period. Nuveen Asset Management LLC increased its stake in Travel + Leisure by 25.1% during the 4th quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company’s stock valued at $45,299,000 after buying an additional 180,059 shares during the period. Invesco Ltd. increased its stake in Travel + Leisure by 4.8% during the 4th quarter. Invesco Ltd. now owns 3,544,548 shares of the company’s stock valued at $178,822,000 after buying an additional 163,804 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Travel + Leisure by 21.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company’s stock valued at $36,540,000 after buying an additional 138,153 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.

Travel + Leisure Company Profile

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.