Morgan Stanley Initiates Coverage on Travel + Leisure (NYSE:TNL)

Analysts at Morgan Stanley initiated coverage on shares of Travel + Leisure (NYSE:TNL) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set an “overweight” rating and a $67.00 price target on the stock. Morgan Stanley’s price objective would suggest a potential upside of 31.86% from the company’s previous close.

TNL has been the topic of a number of other reports. Barclays boosted their price target on shares of Travel + Leisure from $41.00 to $48.00 and gave the stock an “underweight” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. lifted their price target on Travel + Leisure from $56.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Tigress Financial upped their price objective on Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a report on Friday, November 1st. The Goldman Sachs Group lifted their target price on Travel + Leisure from $49.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Truist Financial raised their price objective on shares of Travel + Leisure from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Travel + Leisure currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

Travel + Leisure Stock Performance

Travel + Leisure stock opened at $50.81 on Monday. Travel + Leisure has a one year low of $37.99 and a one year high of $56.91. The firm has a market capitalization of $3.48 billion, a P/E ratio of 8.63, a P/E/G ratio of 0.77 and a beta of 1.64. The company has a 50-day simple moving average of $52.58 and a 200-day simple moving average of $47.48.

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

Insider Activity

In related news, insider Geoffrey Richards sold 9,400 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $56.56, for a total transaction of $531,664.00. Following the completion of the transaction, the insider now directly owns 111,202 shares in the company, valued at $6,289,585.12. This represents a 7.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen P. Holmes sold 80,000 shares of the company’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 completion of the sale, the director now owns 362,947 shares in the company, valued at $17,258,129.85. This trade represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 99,016 shares of company stock valued at $4,846,863 in the last quarter. Company insiders own 4.02% of the company’s stock.

Hedge Funds Weigh In On Travel + Leisure

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. raised its holdings in shares of Travel + Leisure by 1,948.1% in the 3rd quarter. UMB Bank n.a. now owns 553 shares of the company’s stock worth $25,000 after acquiring an additional 526 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Travel + Leisure by 2,759.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock worth $28,000 after buying an additional 607 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Travel + Leisure by 49.2% during the 4th quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock valued at $32,000 after acquiring an additional 210 shares during the period. Larson Financial Group LLC bought a new position in Travel + Leisure during the second quarter worth about $36,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Travel + Leisure in the 2nd quarter worth approximately $38,000. Institutional investors 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.