Wyndham Destinations (WYND) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Wyndham Destinations (NASDAQ:WYND) from a hold rating to a buy rating in a report published on Saturday morning. They currently have $50.00 price objective on the stock.
According to Zacks, “Wyndham Destinations, Inc. operates as a hospitality company. It offers hotel management and vacation exchange and rental services, as well as develops, markets and sells vacation ownership interests to individual consumers. The Company franchises hotels in the upscale, midscale, and economy segments of the lodging industries. Wyndham Destinations, Inc., formerly known as Wyndham Worldwide Corporation, is based in FL, United States. “
A number of other research firms have also issued reports on WYND. Credit Suisse Group reduced their target price on Wyndham Destinations from $55.00 to $49.00 and set a neutral rating for the company in a report on Thursday. TheStreet upgraded Wyndham Destinations from a c rating to a b rating in a report on Monday, July 16th. Goldman Sachs Group began coverage on Wyndham Destinations in a report on Monday, June 4th. They issued a buy rating for the company. JPMorgan Chase & Co. began coverage on Wyndham Destinations in a report on Wednesday, June 6th. They set a neutral rating and a $52.00 price objective for the company. Finally, Jefferies Financial Group began coverage on Wyndham Destinations in a report on Monday, July 16th. They set a buy rating and a $65.00 price objective for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $58.71.
Wyndham Destinations (NASDAQ:WYND) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.05. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.53 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.64 annualized dividend and a dividend yield of 3.70%.
Large investors have recently made changes to their positions in the stock. Fiera Capital Corp purchased a new position in shares of Wyndham Destinations in the second quarter valued at $16,310,000. Nisa Investment Advisors LLC purchased a new position in Wyndham Destinations during the second quarter worth $1,119,000. Boston Advisors LLC purchased a new position in Wyndham Destinations during the second quarter worth $2,215,000. Factorial Partners LLC purchased a new position in Wyndham Destinations during the second quarter worth $2,249,000. Finally, Karpas Strategies LLC purchased a new position in Wyndham Destinations during the second quarter worth $394,000.
Wyndham Destinations Company Profile
Wyndham Destinations, Inc engages in the provision of hospitality services and products. It operates through three business segments: Hotel Group, Destination Network, Vacation Ownership, and Corporate and Other. The Hotel Group segment franchises hotels in the upscale, upper midscale, midscale, economy, and extended stay segments; and provides hotel management services for full-service and select limited-service hotels.
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