Travel + Leisure (NYSE:TNL) Upgraded at Bank of America

Bank of America upgraded shares of Travel + Leisure (NYSE:TNL) from an underperform rating to a buy rating in a research note issued to investors on Monday, MarketBeat.com reports. Bank of America currently has $60.00 target price on the stock, up from their previous target price of $40.00.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group increased their price objective on shares of Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Stifel Nicolaus raised their price target on Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Barclays upped their price objective on Travel + Leisure from $41.00 to $48.00 and gave the stock an “underweight” rating in a report on Friday, December 13th. Morgan Stanley started coverage on shares of Travel + Leisure in a report on Monday, January 6th. They issued an “overweight” rating and a $67.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Travel + Leisure from $56.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.55.

Travel + Leisure Price Performance

TNL stock opened at $54.40 on Monday. Travel + Leisure has a 1-year low of $39.66 and a 1-year high of $56.91. The business has a 50 day simple moving average of $52.72 and a two-hundred day simple moving average of $48.37. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 0.68 and a beta of 1.64.

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, December 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.68%. Travel + Leisure’s dividend payout ratio is presently 33.96%.

Insider Activity at Travel + Leisure

In related news, insider Geoffrey Richards sold 5,009 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $52.16, for a total transaction of $261,269.44. Following the completion of the transaction, the insider now owns 125,209 shares in the company, valued at $6,530,901.44. The trade was a 3.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 19,016 shares of company stock worth $1,042,863. Insiders own 4.02% of the company’s stock.

Institutional Trading of Travel + Leisure

Several institutional investors and hedge funds have recently made changes to their positions in TNL. UMB Bank n.a. grew its holdings in shares of Travel + Leisure by 36.9% in the fourth quarter. UMB Bank n.a. now owns 757 shares of the company’s stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Versant Capital Management Inc boosted its position in Travel + Leisure by 49.2% in the 4th quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock valued at $32,000 after buying an additional 210 shares during the period. Gries Financial LLC grew its stake in Travel + Leisure by 5.5% in the 4th quarter. Gries Financial LLC now owns 5,074 shares of the company’s stock worth $256,000 after acquiring an additional 265 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Travel + Leisure by 30.7% during the fourth quarter. GAMMA Investing LLC now owns 1,615 shares of the company’s stock worth $81,000 after acquiring an additional 379 shares during the period. Finally, MBM Wealth Consultants LLC increased its position in shares of Travel + Leisure by 6.7% during the fourth quarter. MBM Wealth Consultants LLC now owns 6,218 shares of the company’s stock worth $310,000 after acquiring an additional 390 shares during the period. 87.54% of the stock is currently owned by 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.