Morgan Stanley Cuts Vail Resorts (NYSE:MTN) Price Target to $229.00

Vail Resorts (NYSE:MTN) had its target price trimmed by Morgan Stanley from $242.00 to $229.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts also recently issued reports on MTN. Bank of America downgraded Vail Resorts from a buy rating to a neutral rating and decreased their price target for the company from $285.00 to $250.00 in a report on Friday, March 8th. Mizuho initiated coverage on Vail Resorts in a report on Tuesday, March 26th. They issued a buy rating and a $256.00 price target for the company. Truist Financial reissued a buy rating and issued a $290.00 price target on shares of Vail Resorts in a report on Friday, January 19th. Stifel Nicolaus reissued a buy rating and issued a $263.00 price target on shares of Vail Resorts in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. decreased their price target on Vail Resorts from $252.00 to $243.00 and set a neutral rating for the company in a report on Monday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $260.11.

Vail Resorts Price Performance

Shares of NYSE MTN opened at $201.38 on Monday. The business’s 50 day moving average price is $223.63 and its 200 day moving average price is $221.05. The firm has a market cap of $7.65 billion, a P/E ratio of 33.62, a P/E/G ratio of 2.23 and a beta of 1.11. Vail Resorts has a 52 week low of $200.21 and a 52 week high of $258.13. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 2.37.

Vail Resorts (NYSE:MTN) last issued its earnings results on Monday, March 11th. The company reported $5.76 EPS for the quarter, missing analysts’ consensus estimates of $6.07 by ($0.31). Vail Resorts had a net margin of 8.44% and a return on equity of 19.16%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company earned $5.16 EPS. Vail Resorts’s quarterly revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts expect that Vail Resorts will post 7.64 earnings per share for the current year.

Vail Resorts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 28th were paid a dividend of $2.22 per share. This represents a $8.88 annualized dividend and a dividend yield of 4.41%. This is an increase from Vail Resorts’s previous quarterly dividend of $2.06. The ex-dividend date was Wednesday, March 27th. Vail Resorts’s dividend payout ratio is presently 148.25%.

Insider Transactions at Vail Resorts

In related news, Director Peter A. Vaughn sold 1,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $222.77, for a total value of $222,770.00. Following the completion of the transaction, the director now directly owns 7,592 shares of the company’s stock, valued at approximately $1,691,269.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Simplicity Wealth LLC acquired a new position in Vail Resorts in the 1st quarter valued at $678,000. Louisiana State Employees Retirement System raised its stake in Vail Resorts by 1.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 10,900 shares of the company’s stock valued at $2,429,000 after purchasing an additional 200 shares during the last quarter. IFM Investors Pty Ltd acquired a new position in Vail Resorts in the 1st quarter valued at $1,708,000. First Trust Direct Indexing L.P. acquired a new position in Vail Resorts in the 1st quarter valued at $202,000. Finally, Azzad Asset Management Inc. ADV raised its stake in Vail Resorts by 15.7% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 9,218 shares of the company’s stock valued at $2,054,000 after purchasing an additional 1,253 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Vail Resorts Company Profile

Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and regional ski areas in the United States. It operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 41 destination mountain resorts and regional ski areas. This segment is also involved in the ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities.