Vail Resorts (NYSE:MTN) Given New $229.00 Price Target at Morgan Stanley

Vail Resorts (NYSE:MTN) had its price objective trimmed by Morgan Stanley from $242.00 to $229.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts have also recently weighed in on MTN. Mizuho began coverage on Vail Resorts in a research note on Tuesday, March 26th. They issued a buy rating and a $256.00 price target for the company. Truist Financial reissued a buy rating and issued a $290.00 price target on shares of Vail Resorts in a research note on Friday, January 19th. Stifel Nicolaus reissued a buy rating and issued a $263.00 price target on shares of Vail Resorts in a research note on Friday, March 22nd. Bank of America lowered Vail Resorts from a buy rating to a neutral rating and cut their target price for the company from $285.00 to $250.00 in a research report on Friday, March 8th. Finally, JPMorgan Chase & Co. cut their target price on Vail Resorts from $252.00 to $243.00 and set a neutral rating on the stock in a research report on Monday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vail Resorts has an average rating of Hold and an average target price of $260.11.

Vail Resorts Price Performance

Shares of MTN opened at $199.02 on Monday. The stock has a market cap of $7.56 billion, a PE ratio of 33.23, a PEG ratio of 2.23 and a beta of 1.11. The business has a 50-day simple moving average of $223.05 and a two-hundred day simple moving average of $220.90. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 2.37. Vail Resorts has a 12-month low of $198.26 and a 12-month high of $258.13.

Vail Resorts (NYSE:MTN) last issued its quarterly earnings results on Monday, March 11th. The company reported $5.76 earnings per share for the quarter, missing the consensus estimate of $6.07 by ($0.31). The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.15 billion. Vail Resorts had a net margin of 8.44% and a return on equity of 19.16%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $5.16 EPS. Analysts anticipate that Vail Resorts will post 7.6 earnings per share for the current fiscal year.

Vail Resorts Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 28th were issued a $2.22 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $8.88 annualized dividend and a yield of 4.46%. This is a positive change from Vail Resorts’s previous quarterly dividend of $2.06. Vail Resorts’s dividend payout ratio is presently 148.25%.

Insiders Place Their Bets

In other Vail Resorts news, Director Peter A. Vaughn sold 1,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $222.77, for a total value of $222,770.00. Following the transaction, the director now owns 7,592 shares in the company, valued at $1,691,269.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. boosted its holdings in Vail Resorts by 125.0% in the third quarter. Pittenger & Anderson Inc. now owns 117 shares of the company’s stock worth $26,000 after acquiring an additional 65 shares in the last quarter. Park Place Capital Corp lifted its holdings in shares of Vail Resorts by 531.6% in the fourth quarter. Park Place Capital Corp now owns 120 shares of the company’s stock valued at $26,000 after purchasing an additional 101 shares in the last quarter. Rise Advisors LLC lifted its holdings in shares of Vail Resorts by 62.2% in the fourth quarter. Rise Advisors LLC now owns 159 shares of the company’s stock valued at $34,000 after purchasing an additional 61 shares in the last quarter. Quarry LP bought a new position in shares of Vail Resorts in the fourth quarter valued at approximately $35,000. Finally, Desjardins Global Asset Management Inc. lifted its holdings in shares of Vail Resorts by 70.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 167 shares of the company’s stock valued at $36,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

About Vail Resorts

Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and regional ski areas in the United States. It operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 41 destination mountain resorts and regional ski areas. This segment is also involved in the ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities.