Ryman Hospitality Properties (NYSE:RHP) Price Target Raised to $136.00

Ryman Hospitality Properties (NYSE:RHP) had its price target hoisted by equities researchers at Truist Financial from $130.00 to $136.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target indicates a potential upside of 21.78% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of Ryman Hospitality Properties from $104.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Ryman Hospitality Properties in a research report on Wednesday, November 6th. They issued a “buy” rating and a $130.00 target price for the company. Finally, Wells Fargo & Company lowered their price target on Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $126.17.

Ryman Hospitality Properties Price Performance

RHP stock opened at $111.68 on Monday. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a 50 day moving average price of $108.88 and a 200-day moving average price of $104.19. Ryman Hospitality Properties has a 52-week low of $93.76 and a 52-week high of $122.91. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 1.96 and a beta of 1.65.

Ryman Hospitality Properties (NYSE:RHP) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.89). The company had revenue of $549.90 million during the quarter, compared to analysts’ expectations of $545.93 million. Ryman Hospitality Properties had a return on equity of 61.94% and a net margin of 14.84%. Ryman Hospitality Properties’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 EPS. Equities research analysts forecast that Ryman Hospitality Properties will post 8.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Fazal F. Merchant sold 1,269 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $113.98, for a total transaction of $144,640.62. Following the completion of the transaction, the director now directly owns 4,825 shares of the company’s stock, valued at approximately $549,953.50. This trade represents a 20.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alvin L. Bowles, Jr. sold 900 shares of Ryman Hospitality Properties stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $107.32, for a total transaction of $96,588.00. Following the completion of the sale, the director now owns 3,148 shares in the company, valued at approximately $337,843.36. This represents a 22.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ryman Hospitality Properties

Large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new position in Ryman Hospitality Properties during the 1st quarter valued at approximately $215,000. Vanguard Group Inc. increased its position in Ryman Hospitality Properties by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,470,274 shares of the real estate investment trust’s stock worth $979,248,000 after purchasing an additional 226,547 shares during the last quarter. UniSuper Management Pty Ltd lifted its position in Ryman Hospitality Properties by 1.8% during the first quarter. UniSuper Management Pty Ltd now owns 16,700 shares of the real estate investment trust’s stock valued at $1,931,000 after purchasing an additional 300 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Ryman Hospitality Properties by 7.5% in the 1st quarter. Bessemer Group Inc. now owns 121,203 shares of the real estate investment trust’s stock worth $14,012,000 after buying an additional 8,430 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Ryman Hospitality Properties by 8.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 79,509 shares of the real estate investment trust’s stock worth $9,195,000 after buying an additional 5,949 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

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.