Marriot Vacations Worldwide Corporation (VAC) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Marriot Vacations Worldwide Corporation (NYSE:VAC) from a hold rating to a buy rating in a report released on Tuesday, August 8th. Zacks Investment Research currently has $129.00 price target on the stock.

According to Zacks, “Marriott Vacations Worldwide Corporation is a developer, marketer, seller and manager of vacation ownership resorts and vacation club, destination club and exchange programs, principally under the Marriott and Ritz-Carlton brands and trademarks. The Company generates most of its revenues from four primary sources: selling vacation ownership products, managing our resorts, financing consumer purchases of vacation ownership products and renting vacation ownership inventory. “

Other equities research analysts also recently issued research reports about the stock. Janney Montgomery Scott initiated coverage on shares of Marriot Vacations Worldwide Corporation in a research report on Thursday, April 20th. They issued a buy rating and a $119.00 price objective for the company. Deutsche Bank AG increased their target price on shares of Marriot Vacations Worldwide Corporation from $80.00 to $92.00 and gave the company a hold rating in a report on Monday, May 8th. Stifel Nicolaus increased their target price on shares of Marriot Vacations Worldwide Corporation from $102.00 to $120.00 and gave the company a buy rating in a report on Monday, May 22nd. ValuEngine raised shares of Marriot Vacations Worldwide Corporation from a hold rating to a buy rating in a report on Friday, June 2nd. Finally, Buckingham Research assumed coverage on shares of Marriot Vacations Worldwide Corporation in a research note on Monday, June 19th. They set a buy rating and a $142.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $118.63.

Marriot Vacations Worldwide Corporation (NYSE VAC) traded up 1.18% during midday trading on Tuesday, hitting $110.00. The company had a trading volume of 173,430 shares. The company has a market capitalization of $2.97 billion, a P/E ratio of 19.78 and a beta of 1.14. Marriot Vacations Worldwide Corporation has a 52 week low of $59.33 and a 52 week high of $128.25. The stock has a 50 day moving average price of $114.49 and a 200 day moving average price of $107.01.

Marriot Vacations Worldwide Corporation (NYSE:VAC) last announced its earnings results on Thursday, August 3rd. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.34. Marriot Vacations Worldwide Corporation had a net margin of 7.90% and a return on equity of 16.96%. The business had revenue of $497.62 million during the quarter, compared to the consensus estimate of $489.85 million. During the same quarter in the prior year, the firm earned $1.08 earnings per share. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. Equities analysts forecast that Marriot Vacations Worldwide Corporation will post $5.58 earnings per share for the current fiscal year.

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Marriot Vacations Worldwide Corporation announced that its board has initiated a stock buyback program on Thursday, August 3rd that permits the company to buyback 1,000,000 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

In related news, VP Lizabeth Kane-Hanan sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $119.00, for a total transaction of $595,000.00. Following the completion of the sale, the vice president now owns 27,832 shares of the company’s stock, valued at approximately $3,312,008. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas J. Hutchison III sold 3,599 shares of the business’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $118.15, for a total transaction of $425,221.85. Following the sale, the director now directly owns 1,281 shares of the company’s stock, valued at approximately $151,350.15. The disclosure for this sale can be found here. Insiders have sold a total of 53,361 shares of company stock worth $6,313,822 in the last ninety days. 3.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of VAC. Stratos Wealth Partners LTD. raised its position in Marriot Vacations Worldwide Corporation by 0.3% in the first quarter. Stratos Wealth Partners LTD. now owns 5,858 shares of the company’s stock worth $585,000 after buying an additional 15 shares during the last quarter. Creative Planning raised its stake in shares of Marriot Vacations Worldwide Corporation by 3.2% in the second quarter. Creative Planning now owns 1,307 shares of the company’s stock worth $154,000 after buying an additional 40 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Marriot Vacations Worldwide Corporation by 0.7% in the second quarter. Nisa Investment Advisors LLC now owns 7,686 shares of the company’s stock worth $899,000 after buying an additional 50 shares in the last quarter. Amalgamated Bank raised its stake in shares of Marriot Vacations Worldwide Corporation by 1.7% in the second quarter. Amalgamated Bank now owns 3,097 shares of the company’s stock worth $365,000 after buying an additional 51 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Marriot Vacations Worldwide Corporation by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 2,700 shares of the company’s stock worth $269,000 after buying an additional 70 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Marriot Vacations Worldwide Corporation Company Profile

Marriott Vacations Worldwide Corporation focuses on vacation ownership, based on number of owners, number of resorts and revenues. The Company is an exclusive worldwide developer, marketer, seller and manager of vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands.

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