Ryman Hospitality Properties (NYSE:RHP) Given New $114.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company raised their price target for Ryman Hospitality Properties from $108.00 to $114.00, indicating a potential upside of 17.24% from the previous close.
• The stock currently holds a consensus "Buy" rating among analysts, with a consensus price target of $115.50 and several firms issuing various price targets ranging from $110.00 to $117.00.
• Ryman Hospitality Properties reported $2.35 EPS for their latest quarter, surpassing estimates, with revenue increasing by 7.5% compared to the same quarter last year.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) had its target price upped by research analysts at Wells Fargo & Company from $108.00 to $114.00 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. Wells Fargo & Company's target price would indicate a potential upside of 17.24% from the company's previous close.

Several other analysts have also issued reports on RHP. JPMorgan Chase & Co. began coverage on shares of Ryman Hospitality Properties in a research report on Monday, June 23rd. They issued an "overweight" rating and a $117.00 price target on the stock. Wall Street Zen downgraded shares of Ryman Hospitality Properties from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Truist Financial cut their price target on shares of 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 shares of Ryman Hospitality Properties and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Bank of America lifted their price target on shares of Ryman Hospitality Properties from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $115.50.

Ryman Hospitality Properties Stock Performance

NYSE:RHP opened at $97.24 on Wednesday. Ryman Hospitality Properties has a 1 year low of $76.27 and a 1 year high of $121.77. The firm's fifty day simple moving average is $98.46 and its 200 day simple moving average is $95.80. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 4.72. The firm has a market capitalization of $6.13 billion, a PE ratio of 23.21, a PEG ratio of 1.74 and a beta of 1.62.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.31 by $0.04. Ryman Hospitality Properties had a net margin of 10.74% and a return on equity of 41.65%. The business had revenue of $659.52 million for the quarter, compared to analyst estimates of $616.56 million. During the same period last year, the business posted $2.78 EPS. Ryman Hospitality Properties's revenue was up 7.5% compared to the same quarter last year. Ryman Hospitality Properties has set its FY 2025 guidance at 7.930-8.490 EPS. On average, sell-side analysts anticipate that Ryman Hospitality Properties will post 8.81 EPS for the current year.

Insider Buying and Selling

In other Ryman Hospitality Properties news, Chairman Colin V. Reed bought 8,356 shares of Ryman Hospitality Properties stock in a transaction that occurred on Monday, June 9th. The stock was acquired at an average price of $96.92 per share, for a total transaction of $809,863.52. Following the completion of the acquisition, the chairman owned 870,406 shares of the company's stock, valued at $84,359,749.52. This trade represents a 0.97% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alvin L. Bowles, Jr. sold 1,300 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $99.01, for a total transaction of $128,713.00. Following the sale, the director directly owned 2,576 shares in the company, valued at $255,049.76. This trade represents a 33.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ryman Hospitality Properties

Several large investors have recently modified their holdings of the stock. Cim Investment Management Inc. bought a new stake in Ryman Hospitality Properties in the 2nd quarter valued at about $213,000. Hudson Bay Capital Management LP bought a new stake in Ryman Hospitality Properties in the 2nd quarter valued at about $1,758,000. Public Sector Pension Investment Board boosted its holdings in Ryman Hospitality Properties by 7.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 204,512 shares of the real estate investment trust's stock valued at $20,179,000 after purchasing an additional 14,521 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Ryman Hospitality Properties by 5.3% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 144,707 shares of the real estate investment trust's stock valued at $14,272,000 after purchasing an additional 7,221 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Ryman Hospitality Properties by 265.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,620 shares of the real estate investment trust's stock valued at $653,000 after purchasing an additional 4,809 shares during the period. 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.

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