Zacks Investment Research Upgrades Marriott Vacations Worldwide (VAC) to “Hold”
Marriott Vacations Worldwide (NYSE:VAC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Marriott Vacations Worldwide Corporation is a developer, marketer, seller and manager of vacation ownership resorts and vacation club, destination club and exchange programs, principally under the Marriott and Ritz-Carlton brands and trademarks. The Company generates most of its revenues from four primary sources: selling vacation ownership products, managing our resorts, financing consumer purchases of vacation ownership products and renting vacation ownership inventory. “
Several other equities analysts also recently issued reports on the stock. Credit Suisse Group started coverage on shares of Marriott Vacations Worldwide in a report on Friday, May 18th. They set an “outperform” rating and a $146.00 price objective on the stock. Nomura set a $158.00 price objective on shares of Marriott Vacations Worldwide and gave the company a “buy” rating in a report on Thursday, August 23rd. Wolfe Research started coverage on shares of Marriott Vacations Worldwide in a report on Friday, June 8th. They set an “outperform” rating on the stock. Jefferies Financial Group started coverage on shares of Marriott Vacations Worldwide in a report on Monday, July 16th. They set a “buy” rating and a $150.00 price objective on the stock. Finally, ValuEngine raised shares of Marriott Vacations Worldwide from a “sell” rating to a “hold” rating in a report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $143.07.
Marriott Vacations Worldwide (NYSE:VAC) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $1.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.84 by ($0.25). The company had revenue of $594.69 million for the quarter, compared to analysts’ expectations of $595.15 million. Marriott Vacations Worldwide had a net margin of 9.16% and a return on equity of 15.81%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.74 earnings per share. equities analysts expect that Marriott Vacations Worldwide will post 7.01 EPS for the current year.
In other Marriott Vacations Worldwide news, CEO Stephen P. Weisz purchased 4,058 shares of the firm’s stock in a transaction dated Friday, June 15th. The shares were purchased at an average cost of $117.86 per share, with a total value of $478,275.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen P. Weisz purchased 3,500 shares of the firm’s stock in a transaction dated Thursday, June 28th. The stock was acquired at an average cost of $108.43 per share, for a total transaction of $379,505.00. Following the completion of the purchase, the chief executive officer now owns 180,017 shares of the company’s stock, valued at approximately $19,519,243.31. The disclosure for this purchase can be found here. Company insiders own 3.50% of the company’s stock.
Several large investors have recently bought and sold shares of VAC. Wells Fargo & Company MN lifted its stake in shares of Marriott Vacations Worldwide by 4.7% in the first quarter. Wells Fargo & Company MN now owns 54,707 shares of the company’s stock worth $7,287,000 after buying an additional 2,456 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Marriott Vacations Worldwide by 0.8% in the first quarter. Rhumbline Advisers now owns 60,288 shares of the company’s stock worth $8,030,000 after buying an additional 462 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Marriott Vacations Worldwide by 19.6% in the first quarter. SG Americas Securities LLC now owns 13,722 shares of the company’s stock worth $1,828,000 after buying an additional 2,247 shares in the last quarter. Mackay Shields LLC purchased a new position in shares of Marriott Vacations Worldwide in the first quarter worth about $786,000. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Marriott Vacations Worldwide in the first quarter worth about $346,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.
About Marriott Vacations Worldwide
Marriott Vacations Worldwide Corporation develops, markets, sells, and manages vacation ownership and related products under the Marriott Vacation Club, Grand Residences by Marriott, and Marriott Vacation Club Pulse brands. It operates through three segments: North America, Asia Pacific, and Europe. The company also develops, markets, and sells vacation ownership and related products under The Ritz-Carlton Destination Club brand; and holds right to develop, market, and sell ownership residential products under The Ritz-Carlton Residences brand.
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