Vail Resorts (MTN) Downgraded by Bank of America to Neutral

Bank of America cut shares of Vail Resorts (NYSE:MTN) from a buy rating to a neutral rating in a report published on Friday, Marketbeat.com reports.

MTN has been the topic of several other reports. ValuEngine lowered Vail Resorts from a buy rating to a hold rating in a research note on Wednesday, January 2nd. Barclays reduced their price objective on Vail Resorts from $290.00 to $280.00 and set an overweight rating on the stock in a research note on Monday, December 10th. Zacks Investment Research lowered Vail Resorts from a hold rating to a sell rating in a research note on Tuesday, December 11th. Berenberg Bank raised Vail Resorts from a hold rating to a buy rating in a research note on Monday, October 29th. Finally, Macquarie raised Vail Resorts from a neutral rating to an outperform rating in a research note on Monday, October 15th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $290.89.

NYSE:MTN traded down $27.30 during mid-day trading on Friday, reaching $187.33. The company’s stock had a trading volume of 3,219,397 shares, compared to its average volume of 820,159. The company has a current ratio of 0.50, a quick ratio of 0.35 and a debt-to-equity ratio of 0.96. Vail Resorts has a twelve month low of $181.96 and a twelve month high of $302.76. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 29.78 and a beta of 0.89.

Vail Resorts (NYSE:MTN) last released its quarterly earnings data on Friday, December 7th. The company reported ($2.66) earnings per share for the quarter, missing the consensus estimate of ($2.44) by ($0.22). The firm had revenue of $220.00 million during the quarter, compared to analyst estimates of $235.08 million. Vail Resorts had a net margin of 14.94% and a return on equity of 13.55%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.00) earnings per share. As a group, research analysts forecast that Vail Resorts will post 7.67 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, January 10th. Investors of record on Thursday, December 27th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.14%. The ex-dividend date was Wednesday, December 26th. Vail Resorts’s dividend payout ratio (DPR) is presently 93.48%.

In related news, Director John F. Sorte sold 2,134 shares of the business’s stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $240.02, for a total transaction of $512,202.68. Following the transaction, the director now directly owns 47,314 shares of the company’s stock, valued at approximately $11,356,306.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. First Hawaiian Bank purchased a new stake in Vail Resorts during the 3rd quarter worth approximately $414,000. Scout Investments Inc. increased its holdings in Vail Resorts by 6.7% during the 3rd quarter. Scout Investments Inc. now owns 84,604 shares of the company’s stock worth $23,217,000 after purchasing an additional 5,327 shares during the last quarter. Korea Investment CORP increased its holdings in Vail Resorts by 52.6% during the 3rd quarter. Korea Investment CORP now owns 151,069 shares of the company’s stock worth $41,456,000 after purchasing an additional 52,069 shares during the last quarter. First Republic Investment Management Inc. increased its holdings in Vail Resorts by 8.2% during the 3rd quarter. First Republic Investment Management Inc. now owns 5,511 shares of the company’s stock worth $1,513,000 after purchasing an additional 418 shares during the last quarter. Finally, Highwater Wealth Management LLC purchased a new stake in Vail Resorts during the 4th quarter worth approximately $32,000. Institutional investors own 95.59% of the company’s stock.

About Vail Resorts

Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and urban ski areas in the United States. The company operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 11 mountain resorts, including Vail Mountain, Breckenridge Ski, Keystone, and Beaver Creek resorts in Colorado; Park City resort in Utah; Heavenly Mountain, Northstar, and Kirkwood Mountain resorts in the Lake Tahoe area of California and Nevada; Whistler Blackcomb in Canada; Stowe Mountain resort in Vermont; and Perisher in Australia, as well as 3 urban ski areas, such as Wilmot Mountain in Wisconsin, Afton Alps in Minnesota, and Mount Brighton in Michigan.

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Analyst Recommendations for Vail Resorts (NYSE:MTN)

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