Ryman Hospitality Properties (NYSE:RHP) Given New $138.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Ryman Hospitality Properties’ price target from $129 to $138 and maintained an “overweight” rating, implying 5.79% upside from the previous close.
• Analyst sentiment remains broadly positive: MarketBeat reports a consensus “Buy” rating and an average target price of $133.17, with recent target increases from Wells Fargo, Jefferies, Truist, and Cantor Fitzgerald.
• Ryman’s latest quarterly results exceeded expectations, with EPS of $1.42 versus the $1.31 estimate and revenue of $748.98 million, up 13.6% year over year; institutional investors own 94.48% of the stock.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $129.00 to $138.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an "overweight" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 5.79% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Ryman Hospitality Properties from $126.00 to $136.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Jefferies Financial Group reissued a "buy" rating and set a $145.00 target price on shares of Ryman Hospitality Properties in a research report on Wednesday, August 12th. Truist Financial boosted their price target on Ryman Hospitality Properties from $132.00 to $141.00 and gave the company a "buy" rating in a research note on Thursday, September 10th. Weiss Ratings upgraded Ryman Hospitality Properties from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 17th. Finally, Cantor Fitzgerald upped their price target on Ryman Hospitality Properties from $124.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. According to MarketBeat, Ryman Hospitality Properties has a consensus rating of "Buy" and a consensus target price of $133.17.

Ryman Hospitality Properties Stock Performance

NYSE:RHP traded up $0.47 during trading hours on Wednesday, hitting $130.45. 89,972 shares of the company traded hands, compared to its average volume of 602,659. The stock has a market capitalization of $8.23 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 1.94 and a beta of 1.22. Ryman Hospitality Properties has a twelve month low of $83.82 and a twelve month high of $137.46. The firm has a 50-day moving average of $123.81 and a 200 day moving average of $119.25. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 5.02.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.11. Ryman Hospitality Properties had a net margin of 9.91% and a return on equity of 34.54%. The company had revenue of $748.98 million for the quarter, compared to analyst estimates of $734.59 million. During the same period last year, the business posted $2.35 EPS. The business's quarterly revenue was up 13.6% on a year-over-year basis. On average, analysts forecast that Ryman Hospitality Properties will post 9.23 EPS for the current year.

Hedge Funds Weigh In On Ryman Hospitality Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in Ryman Hospitality Properties during the 2nd quarter valued at about $1,438,737,000. Reinhart Partners LLC. boosted its position in Ryman Hospitality Properties by 1.7% in the second quarter. Reinhart Partners LLC. now owns 710,878 shares of the real estate investment trust's stock valued at $91,386,000 after buying an additional 11,766 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Ryman Hospitality Properties by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 913,107 shares of the real estate investment trust's stock valued at $84,251,000 after buying an additional 18,614 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Ryman Hospitality Properties during the second quarter worth about $78,347,000. Finally, Bruni J V & Co. Co. bought a new stake in Ryman Hospitality Properties during the second quarter worth about $65,555,872. 94.48% of the stock is owned by institutional investors.

Ryman Hospitality Properties Company Profile

Ryman Hospitality Properties, Inc is a real estate investment trust that owns and invests in high-quality lodging and entertainment properties. The company focuses primarily on large-scale, group-oriented convention center resorts that serve business conferences, meetings, and leisure travelers.

Ryman's portfolio includes the Gaylord Hotels properties: Gaylord Opryland Resort & Convention Center in Nashville, Tennessee; Gaylord Palms Resort & Convention Center near Orlando, Florida; Gaylord Texan Resort & Convention Center near Dallas, Texas; Gaylord National Resort & Convention Center near Washington, DC; and Gaylord Rockies Resort & Convention Center near Denver, Colorado.

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