Stock Buyback Plan Initiated by Marriot Vacations Worldwide Corporation (NYSE:VAC)

Marriot Vacations Worldwide Corporation (NYSE:VAC) announced that its board has authorized a share buyback program, which allows the company to buyback 1,000,000 outstanding shares on Thursday, August 3rd, EventVestor reports. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

A number of research analysts recently issued reports on VAC shares. Zacks Investment Research raised Marriot Vacations Worldwide Corporation from a “hold” rating to a “buy” rating and set a $118.00 price target for the company in a report on Wednesday, April 26th. Telsey Advisory Group dropped their price objective on Marriot Vacations Worldwide Corporation from $113.00 to $96.00 and set a “market perform” rating for the company in a report on Friday, May 5th. Deutsche Bank AG upped their price target on Marriot Vacations Worldwide Corporation from $80.00 to $92.00 and gave the company a “hold” rating in a research note on Monday, May 8th. Stifel Nicolaus upped their price target on Marriot Vacations Worldwide Corporation from $102.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, May 22nd. Finally, ValuEngine raised Marriot Vacations Worldwide Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $118.63.

Marriot Vacations Worldwide Corporation (NYSE VAC) traded up 1.18% during midday trading on Friday, hitting $110.00. The stock had a trading volume of 173,430 shares. The stock’s 50-day moving average is $114.49 and its 200-day moving average is $107.01. The stock has a market capitalization of $2.97 billion, a PE ratio of 19.78 and a beta of 1.14. Marriot Vacations Worldwide Corporation has a 1-year low of $59.33 and a 1-year high of $128.25.

Marriot Vacations Worldwide Corporation (NYSE:VAC) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $1.60 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.34. The business had revenue of $497.62 million for the quarter, compared to analysts’ expectations of $489.85 million. Marriot Vacations Worldwide Corporation had a return on equity of 16.96% and a net margin of 7.90%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period last year, the firm earned $1.08 earnings per share. On average, equities research analysts anticipate that Marriot Vacations Worldwide Corporation will post $5.58 EPS for the current fiscal year.

In other news, Director Thomas J. Hutchison III sold 3,599 shares of Marriot Vacations Worldwide Corporation stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $118.15, for a total value of $425,221.85. Following the sale, the director now directly owns 1,281 shares of the company’s stock, valued at $151,350.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laurie A. Sullivan sold 1,407 shares of Marriot Vacations Worldwide Corporation stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $121.04, for a total value of $170,303.28. Following the completion of the sale, the insider now directly owns 100 shares in the company, valued at $12,104. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,361 shares of company stock worth $6,313,822. Insiders own 3.30% of the company’s stock.

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About Marriot Vacations Worldwide Corporation

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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