Zacks Investment Research upgraded shares of Vail Resorts, Inc. (NYSE:MTN) from a hold rating to a strong-buy rating in a report issued on Wednesday morning. They currently have $264.00 price target on the stock.
According to Zacks, “Vail Resorts, Inc. is one of the leading resort operators in North America. The company’s operations are grouped into two segments, Resort and Real Estate. In the company’s Resort segment, they own and operate resort properties which provide a comprehensive resort experience throughout the year to a diverse clientele with an attractive demographic profile. The company’s Real Estate segment develops, buys and sells real estate in and around the their resort communities. “
A number of other equities analysts have also issued reports on MTN. BidaskClub lowered shares of Vail Resorts from a strong-buy rating to a buy rating in a research report on Friday, June 30th. William Blair started coverage on shares of Vail Resorts in a research report on Friday, July 21st. They set an outperform rating on the stock. KeyCorp reiterated an overweight rating and set a $250.00 target price on shares of Vail Resorts in a research report on Wednesday, August 30th. Stifel Nicolaus reiterated a hold rating and set a $229.00 target price on shares of Vail Resorts in a research report on Thursday, September 7th. Finally, Barclays PLC upped their target price on shares of Vail Resorts from $226.00 to $247.00 and gave the stock an overweight rating in a research report on Friday, September 29th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $247.50.
Shares of Vail Resorts (NYSE MTN) traded up 0.71% during midday trading on Wednesday, reaching $227.32. The company had a trading volume of 185,991 shares. Vail Resorts has a 12 month low of $153.66 and a 12 month high of $232.71. The firm’s 50 day moving average price is $224.43 and its 200-day moving average price is $211.91. The company has a market capitalization of $9.11 billion, a P/E ratio of 43.55 and a beta of 0.50.
Vail Resorts (NYSE:MTN) last announced its earnings results on Thursday, September 28th. The company reported ($1.43) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.81) by $0.38. Vail Resorts had a net margin of 11.04% and a return on equity of 13.46%. The company had revenue of $209.10 million for the quarter, compared to analyst estimates of $210.92 million. During the same period in the prior year, the business earned ($1.80) earnings per share. Vail Resorts’s quarterly revenue was up 16.2% on a year-over-year basis. Analysts anticipate that Vail Resorts will post $6.25 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Tuesday, October 10th were issued a $1.053 dividend. The ex-dividend date was Friday, October 6th. This represents a $4.21 annualized dividend and a yield of 1.85%. Vail Resorts’s dividend payout ratio is currently 85.92%.
In related news, CFO Michael Z. Barkin sold 7,953 shares of the stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $216.55, for a total value of $1,722,222.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Robert A. Katz sold 55,976 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $220.34, for a total transaction of $12,333,751.84. Following the completion of the transaction, the chairman now owns 496,166 shares in the company, valued at $109,325,216.44. The disclosure for this sale can be found here. Insiders sold 236,742 shares of company stock worth $51,804,735 over the last 90 days. 4.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. acquired a new position in Vail Resorts in the third quarter valued at approximately $480,000. Baskin Financial Services Inc. lifted its holdings in Vail Resorts by 0.5% in the third quarter. Baskin Financial Services Inc. now owns 51,537 shares of the company’s stock valued at $11,757,000 after buying an additional 236 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Vail Resorts by 37.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 2,776 shares of the company’s stock valued at $633,000 after buying an additional 760 shares during the period. Pictet Asset Management Ltd. lifted its holdings in Vail Resorts by 4.1% in the third quarter. Pictet Asset Management Ltd. now owns 15,200 shares of the company’s stock valued at $3,467,000 after buying an additional 600 shares during the period. Finally, Leavell Investment Management Inc. lifted its holdings in Vail Resorts by 78.9% in the third quarter. Leavell Investment Management Inc. now owns 3,400 shares of the company’s stock valued at $776,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 96.46% of the company’s stock.
About Vail Resorts
Vail Resorts, Inc is a holding company. The Company operates through three segments: Mountain, Lodging and Real Estate. Its Mountain segment operates over 10 mountain resort properties and approximately three urban ski areas, as well as ancillary services, primarily including, ski school, dining, and retail/rental operations.
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