Travel + Leisure (NYSE:TNL) Hits New 52-Week High – Still a Buy?

Travel + Leisure Co. (NYSE:TNL)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $54.47 and last traded at $54.42, with a volume of 86748 shares changing hands. The stock had previously closed at $53.42.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial cut their price target on Travel + Leisure from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Barclays boosted their price target on Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their price target on Travel + Leisure from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Tigress Financial boosted their price target on Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group lifted their target price on Travel + Leisure from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Travel + Leisure presently has an average rating of “Moderate Buy” and an average price target of $55.67.

Travel + Leisure Price Performance

The business has a 50-day simple moving average of $46.78 and a two-hundred day simple moving average of $45.23. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 0.77 and a beta of 1.61.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.08. The firm had revenue of $993.00 million for the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.54 earnings per share. As a group, equities analysts anticipate that Travel + Leisure Co. will post 5.77 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Friday, December 13th. Travel + Leisure’s payout ratio is 33.96%.

Insider Activity

In other news, insider Geoffrey Richards sold 4,607 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $54.25, for a total value of $249,929.75. Following the transaction, the insider now owns 120,602 shares of the company’s stock, valued at approximately $6,542,658.50. This represents a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Amandine Robin-Caplan sold 3,246 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $41.84, for a total value of $135,812.64. Following the completion of the transaction, the insider now directly owns 24,491 shares in the company, valued at $1,024,703.44. The trade was a 11.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,055 shares of company stock valued at $4,544,170. 4.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Travel + Leisure

Several institutional investors have recently made changes to their positions in TNL. UMB Bank n.a. boosted its stake in shares of Travel + Leisure by 1,948.1% in the third quarter. UMB Bank n.a. now owns 553 shares of the company’s stock valued at $25,000 after buying an additional 526 shares during the period. Versant Capital Management Inc bought a new stake in shares of Travel + Leisure in the second quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Travel + Leisure by 2,759.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock valued at $28,000 after buying an additional 607 shares during the period. Family Firm Inc. bought a new stake in shares of Travel + Leisure in the second quarter valued at approximately $31,000. Finally, Larson Financial Group LLC bought a new stake in shares of Travel + Leisure in the second quarter valued at approximately $36,000. 87.54% of the stock is currently owned by 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.