Travel + Leisure (NYSE:TNL) Given New $63.00 Price Target at JPMorgan Chase & Co.

Travel + Leisure (NYSE:TNL) had its price objective hoisted by JPMorgan Chase & Co. from $56.00 to $63.00 in a research report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities analysts have also commented on TNL. Tigress Financial raised their price objective on shares of Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Truist Financial upped their target price on Travel + Leisure from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group raised their target price on shares of Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Barclays lifted their price objective on shares of Travel + Leisure from $40.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus raised their price target on Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One equities research 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.50.

Travel + Leisure Stock Down 0.8 %

Travel + Leisure stock opened at $53.15 on Friday. The firm has a 50 day moving average price of $51.12 and a 200-day moving average price of $46.67. Travel + Leisure has a twelve month low of $37.99 and a twelve month high of $56.91. The company has a market capitalization of $3.64 billion, a P/E ratio of 9.02, a P/E/G ratio of 0.77 and a beta of 1.63.

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, topping analysts’ consensus estimates 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 business had revenue of $993.00 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business posted $1.54 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Equities analysts expect 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. Stockholders of record on Friday, December 13th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, December 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.76%. Travel + Leisure’s payout ratio is presently 33.96%.

Insider Activity at Travel + Leisure

In other news, insider Geoffrey Richards sold 5,009 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 125,209 shares of the company’s stock, valued at $6,530,901.44. This represents a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director George Herrera sold 2,193 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total transaction of $93,158.64. Following the transaction, the director now owns 6,352 shares of the company’s stock, valued at approximately $269,832.96. This represents a 25.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,209 shares of company stock valued at $4,940,022 over the last 90 days. Corporate insiders own 4.02% of the company’s stock.

Institutional Trading of Travel + Leisure

Several hedge funds have recently made changes to their positions in the business. Quest Partners LLC lifted its stake in Travel + Leisure by 1,474.2% in the second quarter. Quest Partners LLC now owns 22,181 shares of the company’s stock worth $998,000 after purchasing an additional 20,772 shares during the last quarter. Versor Investments LP grew its stake in Travel + Leisure by 45.4% during the 3rd quarter. Versor Investments LP now owns 40,290 shares of the company’s stock worth $1,857,000 after buying an additional 12,585 shares during the last quarter. Hancock Whitney Corp acquired a new stake in Travel + Leisure in the second quarter worth about $1,925,000. FMR LLC grew its stake in shares of Travel + Leisure by 28.5% during the third quarter. FMR LLC now owns 261,599 shares of the company’s stock worth $12,054,000 after acquiring an additional 58,008 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Travel + Leisure by 4,532.8% in the 3rd quarter. International Assets Investment Management LLC now owns 5,374 shares of the company’s stock valued at $248,000 after purchasing an additional 5,258 shares during the last quarter. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

About Travel + Leisure

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.