Travel + Leisure (NYSE:TNL) Downgraded by Barclays

Barclays cut shares of Travel + Leisure (NYSE:TNL) from an equal weight rating to an underweight rating in a research note published on Thursday morning, MarketBeat reports. Barclays currently has $40.00 price target on the stock, down from their previous price target of $46.00.

TNL has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Travel + Leisure from $65.00 to $62.00 and set a buy rating for the company in a research note on Thursday, July 25th. The Goldman Sachs Group began coverage on shares of Travel + Leisure in a research note on Wednesday, September 18th. They set a neutral rating and a $44.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Travel + Leisure from $53.00 to $63.00 and gave the stock an overweight rating in a research note on Friday, July 19th. Truist Financial reduced their price objective on shares of Travel + Leisure from $65.00 to $60.00 and set a buy rating for the company in a research report on Thursday, September 5th. Finally, Tigress Financial raised their price objective on shares of Travel + Leisure from $54.00 to $58.00 and gave the company a buy rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Travel + Leisure presently has a consensus rating of Moderate Buy and an average target price of $54.33.

Travel + Leisure Stock Performance

Shares of TNL stock opened at $46.59 on Thursday. The stock’s 50-day moving average is $43.67 and its two-hundred day moving average is $44.71. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 0.63 and a beta of 1.62. Travel + Leisure has a 1 year low of $32.10 and a 1 year high of $49.91.

Travel + Leisure (NYSE:TNL) last announced its earnings results on Wednesday, July 24th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.13. Travel + Leisure had a net margin of 11.35% and a negative return on equity of 46.63%. The business had revenue of $985.00 million during the quarter, compared to the consensus estimate of $987.20 million. During the same quarter in the prior year, the firm earned $1.33 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts predict that Travel + Leisure will post 5.67 EPS for the current year.

Travel + Leisure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, September 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.29%. Travel + Leisure’s payout ratio is 36.83%.

Insider Activity

In other news, Director George Herrera sold 2,193 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total transaction of $93,158.64. Following the completion of the sale, the director now directly owns 6,352 shares in the company, valued at approximately $269,832.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director George Herrera sold 2,193 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total transaction of $93,158.64. Following the completion of the sale, the director now directly owns 6,352 shares in the company, valued at approximately $269,832.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Amandine Robin-Caplan sold 3,246 shares of Travel + Leisure stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $41.84, for a total transaction of $135,812.64. Following the sale, the insider now owns 24,491 shares of the company’s stock, valued at $1,024,703.44. The disclosure for this sale can be found here. Insiders own 4.02% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Travel + Leisure during the 2nd quarter worth approximately $90,000. Sanctuary Advisors LLC purchased a new position in shares of Travel + Leisure during the 2nd quarter worth approximately $283,000. Aristides Capital LLC purchased a new position in shares of Travel + Leisure during the 2nd quarter worth approximately $257,000. Point72 Asset Management L.P. purchased a new position in shares of Travel + Leisure during the 2nd quarter worth approximately $7,480,000. Finally, Mackenzie Financial Corp grew its stake in Travel + Leisure by 49.9% in the 2nd quarter. Mackenzie Financial Corp now owns 9,932 shares of the company’s stock worth $447,000 after acquiring an additional 3,307 shares during the period. 87.54% of the stock is owned by hedge funds and other institutional investors.

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.