Travel + Leisure (NYSE:TNL) Given New $59.00 Price Target at The Goldman Sachs Group

Travel + Leisure (NYSE:TNL) had its price objective lifted by The Goldman Sachs Group from $49.00 to $59.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts also recently issued research reports about the stock. Barclays increased their price objective on shares of Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Truist Financial raised their price objective on Travel + Leisure from $60.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Tigress Financial upped their target price on Travel + Leisure from $58.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus lifted their price target on Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Travel + Leisure presently has a consensus rating of “Moderate Buy” and an average target price of $57.80.

Travel + Leisure Stock Performance

Shares of TNL opened at $53.56 on Tuesday. Travel + Leisure has a 52-week low of $36.77 and a 52-week high of $56.91. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 0.78 and a beta of 1.63. The business’s fifty day moving average is $50.99 and its 200-day moving average is $46.57.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.08. The firm had revenue of $993.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.54 earnings per share. As a group, research analysts forecast that Travel + Leisure will post 5.75 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Friday, December 13th. Travel + Leisure’s payout ratio is 33.96%.

Insider Transactions at Travel + Leisure

In related news, Director Stephen P. Holmes sold 80,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $47.55, for a total value of $3,804,000.00. Following the transaction, the director now owns 362,947 shares of the company’s stock, valued at approximately $17,258,129.85. This trade represents a 18.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geoffrey Richards sold 5,009 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $52.16, for a total value of $261,269.44. Following the completion of the sale, the insider now directly owns 125,209 shares of the company’s stock, valued at approximately $6,530,901.44. This trade represents a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,209 shares of company stock valued at $4,940,022 in the last 90 days. 4.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Travel + Leisure

A number of institutional investors and hedge funds have recently bought and sold shares of TNL. UMB Bank n.a. grew its holdings in shares of Travel + Leisure by 1,948.1% in the third quarter. UMB Bank n.a. now owns 553 shares of the company’s stock valued at $25,000 after acquiring an additional 526 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Travel + Leisure by 2,759.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock valued at $28,000 after purchasing an additional 607 shares during the period. Atria Investments Inc raised its stake in shares of Travel + Leisure by 14.4% during the 3rd quarter. Atria Investments Inc now owns 5,345 shares of the company’s stock worth $246,000 after purchasing an additional 672 shares during the period. Family Firm Inc. purchased a new position in shares of Travel + Leisure in the 2nd quarter worth about $31,000. Finally, Larson Financial Group LLC bought a new position in Travel + Leisure during the second quarter valued at about $36,000. 87.54% of the stock is owned by hedge funds and other institutional investors.

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.