JPMorgan Chase & Co. Cuts Wyndham Destinations (WYND) Price Target to $43.00

Wyndham Destinations (NASDAQ:WYND) had its target price cut by JPMorgan Chase & Co. from $48.00 to $43.00 in a report released on Friday morning. They currently have a neutral rating on the stock.

A number of other brokerages have also recently issued reports on WYND. TheStreet upgraded shares of Wyndham Destinations from a c rating to a b rating in a report on Monday, July 16th. Zacks Investment Research upgraded shares of Wyndham Destinations from a strong sell rating to a hold rating in a report on Tuesday, July 31st. Jefferies Financial Group assumed coverage on shares of Wyndham Destinations in a report on Monday, July 16th. They set a buy rating and a $65.00 price objective for the company. Credit Suisse Group decreased their price objective on shares of Wyndham Destinations from $55.00 to $49.00 and set a neutral rating for the company in a report on Thursday, August 9th. Finally, Macquarie upgraded shares of Wyndham Destinations from an underperform rating to a neutral rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $57.50.

NASDAQ WYND traded up $0.47 during trading on Friday, reaching $43.16. 2,176,486 shares of the stock traded hands, compared to its average volume of 2,156,845. Wyndham Destinations has a fifty-two week low of $33.61 and a fifty-two week high of $57.67.

Wyndham Destinations (NASDAQ:WYND) last issued its quarterly earnings data on Thursday, November 1st. The company reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.05. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. The business’s quarterly revenue was up 4.6% compared to the same quarter last year.

In related news, insider Michael Dean Brown purchased 6,000 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were purchased at an average price of $45.20 per share, with a total value of $271,200.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George Herrera sold 747 shares of Wyndham Destinations stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $44.61, for a total transaction of $33,323.67. The disclosure for this sale can be found here.

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Wyndham Destinations in the second quarter worth $413,146,000. FMR LLC bought a new stake in shares of Wyndham Destinations in the second quarter worth $328,935,000. Boston Partners bought a new stake in shares of Wyndham Destinations in the second quarter worth $294,781,000. Iridian Asset Management LLC CT bought a new stake in shares of Wyndham Destinations in the second quarter worth $243,246,000. Finally, LSV Asset Management bought a new stake in shares of Wyndham Destinations in the second quarter worth $111,386,000.

About Wyndham Destinations

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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