Morgan Stanley Trims Vail Resorts (NYSE:MTN) Target Price to $229.00

Vail Resorts (NYSE:MTN) had its price objective reduced by stock analysts at Morgan Stanley from $242.00 to $229.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 11.83% from the stock’s previous close.

A number of other analysts have also commented on MTN. Truist Financial reiterated a “buy” rating and issued a $290.00 price target on shares of Vail Resorts in a research note on Friday, January 19th. Mizuho began coverage on shares of Vail Resorts in a research report on Tuesday, March 26th. They set a “buy” rating and a $256.00 target price for the company. Stifel Nicolaus restated a “buy” rating and set a $263.00 target price on shares of Vail Resorts in a research report on Friday, March 22nd. Bank of America lowered shares of Vail Resorts from a “buy” rating to a “neutral” rating and cut their target price for the company from $285.00 to $250.00 in a research report on Friday, March 8th. Finally, JPMorgan Chase & Co. cut their target price on shares of Vail Resorts from $252.00 to $243.00 and set a “neutral” rating for the company in a research report on Monday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vail Resorts has a consensus rating of “Hold” and a consensus target price of $260.11.

Vail Resorts Stock Performance

Shares of MTN stock opened at $204.77 on Monday. The company has a 50 day moving average price of $224.09 and a 200-day moving average price of $221.19. Vail Resorts has a 52 week low of $200.51 and a 52 week high of $258.13. The firm has a market capitalization of $7.78 billion, a PE ratio of 34.19, a P/E/G ratio of 2.17 and a beta of 1.11. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 2.37.

Vail Resorts (NYSE:MTN) last announced its quarterly earnings results on Monday, March 11th. The company reported $5.76 EPS for the quarter, missing analysts’ consensus estimates of $6.07 by ($0.31). Vail Resorts had a return on equity of 19.16% and a net margin of 8.44%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $5.16 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year. As a group, equities research analysts expect that Vail Resorts will post 7.69 earnings per share for the current year.

Insider Buying and Selling at Vail Resorts

In other Vail Resorts news, Director Peter A. Vaughn sold 1,000 shares of Vail Resorts stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $222.77, for a total transaction of $222,770.00. Following the transaction, the director now owns 7,592 shares of the company’s stock, valued at $1,691,269.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Vail Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of MTN. Norges Bank bought a new position in shares of Vail Resorts during the fourth quarter worth $85,704,000. Nordea Investment Management AB boosted its position in shares of Vail Resorts by 2,451.9% during the fourth quarter. Nordea Investment Management AB now owns 417,293 shares of the company’s stock worth $89,931,000 after acquiring an additional 400,941 shares during the last quarter. APG Asset Management US Inc. bought a new position in shares of Vail Resorts during the fourth quarter worth $37,684,000. Ceredex Value Advisors LLC bought a new position in shares of Vail Resorts during the fourth quarter worth $35,645,000. Finally, London Co. of Virginia bought a new position in shares of Vail Resorts during the third quarter worth $32,280,000. Institutional investors own 94.94% of the company’s stock.

About Vail Resorts

Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and regional ski areas in the United States. It operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 41 destination mountain resorts and regional ski areas. This segment is also involved in the ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities.