Hilton Grand Vacations Inc. (NYSE:HGV) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Hilton Grand Vacations Inc. (NYSE:HGV) from a hold rating to a buy rating in a report issued on Tuesday morning. Zacks Investment Research currently has $41.00 price objective on the stock.

According to Zacks, “Hilton Grand Vacations Company, LLC, a division of Hilton Worldwide, is engaged in hospitality business. It markets and operates vacation ownership resorts. The company also manages and serves club membership programs which include Hilton Grand Vacations Club(R) and The Hilton Club(R). It operates primarily in USA, Indonesia, Italy, Mexico, New Zealand, Portugal, Scotland and Thailand. Hilton Grand Vacations Company, LLC is headquartered in Orlando, Florida. “

Other research analysts have also issued reports about the company. Instinet restated a buy rating and issued a $45.00 target price (up from $44.00) on shares of Hilton Grand Vacations in a research note on Thursday, August 3rd. Nomura upped their target price on Hilton Grand Vacations from $44.00 to $45.00 and gave the company a buy rating in a research note on Thursday, August 3rd. Buckingham Research initiated coverage on Hilton Grand Vacations in a research note on Monday, June 19th. They issued a buy rating and a $42.00 target price for the company. Janney Montgomery Scott restated a buy rating and issued a $38.00 target price on shares of Hilton Grand Vacations in a research note on Thursday, April 20th. Finally, JPMorgan Chase & Co. initiated coverage on Hilton Grand Vacations in a research note on Wednesday, April 12th. They issued an overweight rating and a $37.00 target price for the company. Nine equities research analysts have rated the stock with a buy rating, Hilton Grand Vacations currently has an average rating of Buy and a consensus target price of $38.56.

Shares of Hilton Grand Vacations (NYSE HGV) opened at 34.50 on Tuesday. Hilton Grand Vacations has a 52-week low of $24.60 and a 52-week high of $37.94. The stock’s 50 day moving average is $36.03 and its 200-day moving average is $33.01. The firm has a market cap of $3.42 billion and a P/E ratio of 19.64.

Hilton Grand Vacations (NYSE:HGV) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The business had revenue of $439 million for the quarter, compared to analyst estimates of $413.33 million. The company’s revenue was up 12.3% compared to the same quarter last year. Equities analysts anticipate that Hilton Grand Vacations will post $1.93 earnings per share for the current fiscal year.

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In related news, insider Mark D. Wang purchased 28,000 shares of the stock in a transaction on Wednesday, May 17th. The shares were purchased at an average cost of $36.08 per share, for a total transaction of $1,010,240.00. Following the completion of the transaction, the insider now directly owns 312,325 shares of the company’s stock, valued at approximately $11,268,686. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Hlt Holdco Iii Llc sold 9,650,000 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $35.40, for a total value of $341,610,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

A number of hedge funds have recently made changes to their positions in HGV. Public Employees Retirement Association of Colorado boosted its stake in shares of Hilton Grand Vacations by 1.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 11,194 shares of the company’s stock worth $404,000 after buying an additional 199 shares during the period. Pacad Investment Ltd. boosted its stake in shares of Hilton Grand Vacations by 6.7% in the second quarter. Pacad Investment Ltd. now owns 6,400 shares of the company’s stock worth $231,000 after buying an additional 400 shares during the period. Blair William & Co. IL boosted its stake in shares of Hilton Grand Vacations by 2.3% in the second quarter. Blair William & Co. IL now owns 49,544 shares of the company’s stock worth $1,787,000 after buying an additional 1,112 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Hilton Grand Vacations by 6.0% in the second quarter. GSA Capital Partners LLP now owns 20,084 shares of the company’s stock worth $724,000 after buying an additional 1,139 shares during the period. Finally, Utah Retirement Systems boosted its stake in shares of Hilton Grand Vacations by 13.6% in the second quarter. Utah Retirement Systems now owns 10,860 shares of the company’s stock worth $392,000 after buying an additional 1,300 shares during the period. Hedge funds and other institutional investors own 95.72% of the company’s stock.

Hilton Grand Vacations Company Profile

Hilton Grand Vacations Inc is a timeshare company that markets and sells vacation ownership intervals (VOIs), manages resorts in leisure and urban destinations, and operates a points-based vacation club. The Company operates its business across two segments: Real Estate Sales and Financing, and Resort Operations and Club Management.

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