Wyndham Destinations (NASDAQ:WYND) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.
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 analysts have also weighed in on WYND. TheStreet lowered shares of Wyndham Destinations from a “b-” rating to a “c+” rating in a report on Wednesday. Credit Suisse Group decreased their target price on shares of Wyndham Destinations from $55.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, August 9th. Finally, 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 target price on the stock. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $58.71.
Wyndham Destinations (NASDAQ:WYND) last posted its earnings results on Wednesday, August 8th. The company reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.05. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $1.53 EPS.
In related news, insider Michael Dean Brown purchased 6,000 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was acquired at an average price of $45.20 per share, with a total value of $271,200.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director George Herrera sold 747 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was 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.
Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new position in Wyndham Destinations in the 2nd quarter worth approximately $103,000. CENTRAL TRUST Co purchased a new position in Wyndham Destinations in the 2nd quarter worth approximately $110,000. Huntington National Bank purchased a new position in Wyndham Destinations in the 2nd quarter worth approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Wyndham Destinations in the 2nd quarter worth approximately $146,000. Finally, Duncker Streett & Co. Inc. purchased a new position in Wyndham Destinations in the 2nd quarter worth approximately $152,000.
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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