JPMorgan Chase & Co. Raises Travel + Leisure (NYSE:TNL) Price Target to $63.00

Travel + Leisure (NYSE:TNL) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $56.00 to $63.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 17.63% from the company’s current price.

TNL has been the subject of several other research reports. Tigress Financial lifted their price target on Travel + Leisure from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. The Goldman Sachs Group upped their price target on shares of Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday. Truist Financial raised their price objective on shares of Travel + Leisure from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Stifel Nicolaus upped their target price on Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Barclays raised their price target on Travel + Leisure from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Travel + Leisure presently has an average rating of “Moderate Buy” and an average price target of $57.80.

Travel + Leisure Price Performance

NYSE TNL opened at $53.56 on Friday. Travel + Leisure has a 1-year low of $36.77 and a 1-year high of $56.91. The business has a 50 day simple moving average of $50.99 and a two-hundred day simple moving average of $46.57. The stock has a market capitalization of $3.66 billion, a PE ratio of 9.09, a P/E/G ratio of 0.78 and a beta of 1.63.

Travel + Leisure (NYSE:TNL) last released its quarterly 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. Travel + Leisure had a net margin of 10.99% and a negative return on equity of 48.06%. The company had revenue of $993.00 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $1.54 earnings per share. Travel + Leisure’s revenue was up .7% on a year-over-year basis. On average, analysts anticipate that Travel + Leisure will post 5.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director George Herrera sold 2,193 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total value of $93,158.64. Following the completion of the transaction, the director now directly owns 6,352 shares of the company’s stock, valued at approximately $269,832.96. The trade was a 25.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the director now directly owns 362,947 shares in the company, valued at approximately $17,258,129.85. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,209 shares of company stock worth $4,940,022 in the last three months. Corporate insiders own 4.02% of the company’s stock.

Institutional Investors Weigh In On Travel + Leisure

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