Travel + Leisure (NYSE:TNL) Hits New 52-Week High – Here’s Why

Travel + Leisure Co. (NYSE:TNL) reached a new 52-week high on Tuesday . The company traded as high as $73.43 and last traded at $72.9540, with a volume of 525863 shares traded. The stock had previously closed at $72.06.

Analyst Ratings Changes

TNL has been the subject of a number of recent research reports. Citigroup reiterated an “outperform” rating on shares of Travel + Leisure in a report on Thursday, October 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Travel + Leisure in a research report on Wednesday, October 8th. Barclays set a $70.00 target price on shares of Travel + Leisure and gave the company an “equal weight” rating in a report on Wednesday, December 17th. Truist Financial increased their price target on shares of Travel + Leisure from $70.00 to $71.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Finally, Mizuho set a $86.00 price target on shares of Travel + Leisure in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.22.

Travel + Leisure Price Performance

The company has a market cap of $4.69 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 0.63 and a beta of 1.39. The company’s 50 day simple moving average is $65.75 and its two-hundred day simple moving average is $60.86.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.72 by $0.08. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Travel + Leisure had a net margin of 10.36% and a negative return on equity of 49.06%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.57 EPS. Sell-side analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, December 12th. Travel + Leisure’s dividend payout ratio (DPR) is currently 36.84%.

Insider Transactions at Travel + Leisure

In related news, insider Amandine Robin-Caplan sold 1,538 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $65.08, for a total transaction of $100,093.04. Following the transaction, the insider owned 3,904 shares of the company’s stock, valued at approximately $254,072.32. This represents a 28.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geoffrey Richards sold 62,525 shares of Travel + Leisure stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $65.17, for a total value of $4,074,754.25. Following the completion of the transaction, the insider directly owned 39,604 shares of the company’s stock, valued at approximately $2,580,992.68. This represents a 61.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 198,776 shares of company stock worth $13,080,628 over the last quarter. 3.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Travel + Leisure

Institutional investors have recently modified their holdings of the business. Voya Investment Management LLC boosted its position in shares of Travel + Leisure by 362.0% during the 1st quarter. Voya Investment Management LLC now owns 175,221 shares of the company’s stock worth $8,111,000 after acquiring an additional 137,295 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Travel + Leisure by 2,704.3% during the second quarter. Farther Finance Advisors LLC now owns 1,963 shares of the company’s stock worth $101,000 after purchasing an additional 1,893 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in Travel + Leisure in the first quarter valued at approximately $2,717,000. Walleye Capital LLC raised its holdings in Travel + Leisure by 59.1% during the first quarter. Walleye Capital LLC now owns 53,527 shares of the company’s stock worth $2,478,000 after purchasing an additional 19,881 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Travel + Leisure by 45.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 60,948 shares of the company’s stock worth $3,429,000 after purchasing an additional 18,930 shares during the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

About Travel + Leisure

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.