Ryman Hospitality Properties (NYSE:RHP) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Ryman Hospitality Properties (NYSE:RHP) had its target price upped by Wells Fargo & Company from $101.00 to $108.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price points to a potential upside of 6.32% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Ryman Hospitality Properties in a research note on Monday, June 23rd. They issued an “overweight” rating and a $117.00 price target for the company. Jefferies Financial Group dropped their price objective on Ryman Hospitality Properties from $118.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Truist Financial lowered their price target on Ryman Hospitality Properties from $127.00 to $120.00 and set a “buy” rating for the company in a report on Friday, May 30th. Wedbush set a $110.00 target price on Ryman Hospitality Properties and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Finally, Evercore ISI decreased their price target on Ryman Hospitality Properties from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 28th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.43.

Ryman Hospitality Properties Trading Down 0.1%

NYSE:RHP opened at $101.58 on Tuesday. The stock has a market cap of $6.09 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 2.74 and a beta of 1.57. The company has a debt-to-equity ratio of 5.92, a current ratio of 1.55 and a quick ratio of 1.55. Ryman Hospitality Properties has a fifty-two week low of $76.27 and a fifty-two week high of $121.77. The stock’s 50-day moving average is $99.01 and its two-hundred day moving average is $97.35.

Ryman Hospitality Properties (NYSE:RHP) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.29. Ryman Hospitality Properties had a return on equity of 51.95% and a net margin of 12.16%. The firm had revenue of $587.28 million during the quarter, compared to analyst estimates of $546.52 million. During the same period in the previous year, the company earned $1.60 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research analysts forecast that Ryman Hospitality Properties will post 8.81 earnings per share for the current fiscal year.

Insider Activity at Ryman Hospitality Properties

In related news, Director Alvin L. Bowles, Jr. sold 1,300 shares of the business’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $99.01, for a total transaction of $128,713.00. Following the completion of the transaction, the director directly owned 2,576 shares in the company, valued at $255,049.76. The trade was a 33.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Colin V. Reed acquired 8,356 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was purchased at an average price of $96.92 per share, with a total value of $809,863.52. Following the transaction, the chairman owned 870,406 shares of the company’s stock, valued at approximately $84,359,749.52. This trade represents a 0.97% increase in their position. The disclosure for this purchase can be found here. Insiders own 5.00% of the company’s stock.

Institutional Trading of Ryman Hospitality Properties

Several hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue raised its holdings in shares of Ryman Hospitality Properties by 4.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 64,242 shares of the real estate investment trust’s stock valued at $6,337,000 after purchasing an additional 2,584 shares in the last quarter. Dakota Wealth Management acquired a new stake in shares of Ryman Hospitality Properties in the 2nd quarter worth $876,000. Public Employees Retirement System of Ohio lifted its stake in shares of Ryman Hospitality Properties by 1.5% in the second quarter. Public Employees Retirement System of Ohio now owns 85,881 shares of the real estate investment trust’s stock valued at $8,474,000 after purchasing an additional 1,308 shares during the period. Fifth Third Bancorp raised its position in Ryman Hospitality Properties by 31.3% during the second quarter. Fifth Third Bancorp now owns 756 shares of the real estate investment trust’s stock worth $75,000 after acquiring an additional 180 shares during the last quarter. Finally, Golden State Equity Partners raised its position in Ryman Hospitality Properties by 4.4% during the second quarter. Golden State Equity Partners now owns 3,371 shares of the real estate investment trust’s stock worth $333,000 after acquiring an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

About Ryman Hospitality Properties

Ryman Hospitality Properties, Inc (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and entertainment experiences. The Company's holdings include Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; Gaylord National Resort & Convention Center; and Gaylord Rockies Resort & Convention Center, five of the top seven largest non-gaming convention center hotels in the United States based on total indoor meeting space.