Travel + Leisure (NYSE:TNL) Stock Rating Upgraded by Bank of America

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

Other research analysts have also issued reports about the company. Barclays boosted their price target on Travel + Leisure from $41.00 to $48.00 and gave the stock an “underweight” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. boosted their target price on shares of Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. The Goldman Sachs Group raised their price target 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. Tigress Financial boosted their price objective on shares of Travel + Leisure from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus increased their target price on shares of Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Travel + Leisure currently has an average rating of “Moderate Buy” and an average price target of $59.55.

Travel + Leisure Stock Down 0.5 %

Shares of TNL stock opened at $54.40 on Monday. The company’s 50 day moving average is $52.72 and its 200 day moving average is $48.37. The firm has a market cap 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 has a 52-week low of $39.66 and a 52-week high of $56.91.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 annualized dividend and a dividend yield of 3.68%. Travel + Leisure’s payout ratio is currently 33.96%.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, insider Geoffrey Richards sold 9,400 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.56, for a total transaction of $531,664.00. Following the sale, the insider now owns 111,202 shares in the company, valued at approximately $6,289,585.12. The trade was a 7.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 19,016 shares of company stock valued at $1,042,863 in the last ninety days. Company insiders own 4.02% of the company’s stock.

Institutional Investors Weigh In On Travel + Leisure

A number of institutional investors and hedge funds have recently modified their holdings of the company. Copeland Capital Management LLC increased its holdings in Travel + Leisure by 0.8% in the 4th quarter. Copeland Capital Management LLC now owns 1,565,581 shares of the company’s stock worth $78,984,000 after buying an additional 12,111 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Travel + Leisure by 21.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company’s stock valued at $36,540,000 after acquiring an additional 138,153 shares during the last quarter. Millennium Management LLC increased its stake in shares of Travel + Leisure by 440.7% in the second quarter. Millennium Management LLC now owns 614,141 shares of the company’s stock worth $27,624,000 after acquiring an additional 500,554 shares during the period. Iridian Asset Management LLC CT raised its holdings in shares of Travel + Leisure by 1.3% during the third quarter. Iridian Asset Management LLC CT now owns 534,156 shares of the company’s stock worth $24,614,000 after purchasing an additional 6,757 shares during the last quarter. Finally, Algert Global LLC lifted its position in Travel + Leisure by 168.9% during the third quarter. Algert Global LLC now owns 319,279 shares of the company’s stock valued at $14,712,000 after purchasing an additional 200,549 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.

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.