Travel + Leisure (NYSE:TNL) Shares Gap Up – Time to Buy?

Travel + Leisure Co. (NYSE:TNL)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $53.17, but opened at $54.43. Travel + Leisure shares last traded at $54.36, with a volume of 77,336 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently commented on TNL shares. Morgan Stanley initiated coverage on shares of Travel + Leisure in a report on Monday, January 6th. They issued an “overweight” rating and a $67.00 price target for the company. Truist Financial upped their price target on shares of Travel + Leisure from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Barclays boosted their price objective on Travel + Leisure from $41.00 to $48.00 and gave the stock an “underweight” rating in a research note on Friday, December 13th. The Goldman Sachs Group raised their target price on Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. boosted their price target on Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.55.

Travel + Leisure Stock Up 2.5 %

The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 0.68 and a beta of 1.64. The company’s 50-day moving average is $52.64 and its 200-day moving average is $48.22.

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Friday, December 13th. Travel + Leisure’s payout ratio is presently 33.96%.

Insiders Place Their Bets

In other Travel + Leisure news, insider Geoffrey Richards sold 9,400 shares of Travel + Leisure stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.56, for a total transaction of $531,664.00. Following the completion of the sale, the insider now directly owns 111,202 shares in the company, valued at $6,289,585.12. This trade represents a 7.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 19,016 shares of company stock valued at $1,042,863 over the last quarter. 4.02% of the stock is owned by insiders.

Institutional Trading of Travel + Leisure

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TNL. UMB Bank n.a. lifted its holdings in Travel + Leisure by 1,948.1% during the 3rd quarter. UMB Bank n.a. now owns 553 shares of the company’s stock worth $25,000 after buying an additional 526 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Travel + Leisure by 49.2% during the fourth quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock worth $32,000 after acquiring an additional 210 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Travel + Leisure by 314.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company’s stock valued at $33,000 after acquiring an additional 503 shares in the last quarter. Brooklyn Investment Group purchased a new position in Travel + Leisure in the third quarter valued at $43,000. Finally, Capital Performance Advisors LLP acquired a new position in Travel + Leisure during the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 87.54% of the company’s stock.

About Travel + Leisure

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.