Hilton Grand Vacations (NYSE:HGV) Given New $39.00 Price Target at Barclays

Hilton Grand Vacations (NYSE:HGV) had its target price cut by analysts at Barclays from $46.00 to $39.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential downside of 4.80% from the company’s current price.

HGV has been the subject of a number of other research reports. Mizuho decreased their price objective on shares of Hilton Grand Vacations from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Wall Street Zen downgraded shares of Hilton Grand Vacations from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings lowered shares of Hilton Grand Vacations from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, October 19th. Morgan Stanley decreased their price target on shares of Hilton Grand Vacations from $58.00 to $54.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 18th. Finally, Wells Fargo & Company lowered their price target on shares of Hilton Grand Vacations from $51.00 to $38.00 and set a “cautious” rating on the stock in a report on Monday, October 19th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $49.10.

Hilton Grand Vacations Stock Up 6.6%

Shares of NYSE HGV traded up $2.53 during mid-day trading on Monday, reaching $40.97. 2,969,104 shares of the company’s stock traded hands, compared to its average volume of 1,004,115. The company has a debt-to-equity ratio of 5.29, a current ratio of 5.15 and a quick ratio of 3.35. The business has a 50-day simple moving average of $37.74 and a 200 day simple moving average of $44.61. The stock has a market cap of $3.18 billion, a P/E ratio of 7.89, a PEG ratio of 0.39 and a beta of 1.61. Hilton Grand Vacations has a 1-year low of $33.99 and a 1-year high of $55.40.

Hilton Grand Vacations (NYSE:HGV) last announced its earnings results on Thursday, October 29th. The company reported $4.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $2.95. Hilton Grand Vacations had a return on equity of 39.73% and a net margin of 7.02%. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Hilton Grand Vacations’s quarterly revenue was up 50.8% on a year-over-year basis. On average, analysts expect that Hilton Grand Vacations will post 4.48 EPS for the current fiscal year.

Hilton Grand Vacations declared that its Board of Directors has initiated a stock repurchase program on Thursday, August 20th that authorizes the company to repurchase $600 million in shares. This repurchase authorization authorizes the company to repurchase up to 17% of its shares through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Hilton Grand Vacations

In other news, insider Charles Corbin, Jr. sold 20,691 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $46.90, for a total transaction of $970,407.90. Following the transaction, the insider directly owned 47,924 shares of the company’s stock, valued at approximately $2,247,635.60. This trade represents a 30.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Hilton Grand Vacations

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Hilton Grand Vacations in the second quarter worth $422,842,000. Dimensional Fund Advisors LP boosted its holdings in shares of Hilton Grand Vacations by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,869,731 shares of the company’s stock valued at $151,375,000 after buying an additional 60,624 shares in the last quarter. Parsifal Capital Management LP purchased a new stake in shares of Hilton Grand Vacations in the 2nd quarter worth about $108,863,038. TrinityBridge Ltd purchased a new stake in shares of Hilton Grand Vacations in the 2nd quarter worth about $52,540,000. Finally, Iridian Asset Management LLC CT grew its position in shares of Hilton Grand Vacations by 54.5% in the 3rd quarter. Iridian Asset Management LLC CT now owns 711,664 shares of the company’s stock worth $24,666,000 after buying an additional 251,068 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

About Hilton Grand Vacations

Hilton Grand Vacations Inc (NYSE:HGV) is a global vacation ownership company that markets and sells vacation intervals, points-based memberships and related travel experiences. Its portfolio includes branded vacation ownership resorts and accommodations in popular leisure destinations, with products designed to provide members with recurring access to vacation properties.

The company also provides resort management, reservation and customer services, financing for vacation ownership purchases, and exchange and travel-planning services.