Ryman Hospitality Properties (NYSE:RHP) Stock Price Target Raised at JPMorgan Chase & Co.

Ryman Hospitality Properties (NYSE:RHP) had its price objective hoisted 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 brokerage presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 5.79% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. Citigroup lifted their price target on Ryman Hospitality Properties from $125.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Raymond James Financial upped their price target on shares of Ryman Hospitality Properties from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, September 28th. Cantor Fitzgerald increased their price objective on shares of Ryman Hospitality Properties from $124.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Zacks Research upgraded shares of Ryman Hospitality Properties from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Finally, Truist Financial raised their price objective on shares of Ryman Hospitality Properties from $132.00 to $141.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. According to data from MarketBeat, Ryman Hospitality Properties currently has an average rating of “Buy” and a consensus price target of $133.17.

Ryman Hospitality Properties Price Performance

RHP stock traded up $0.47 during midday trading on Wednesday, reaching $130.45. 89,972 shares of the company’s stock traded hands, compared to its average volume of 602,659. The company has a 50-day simple moving average of $123.81 and a two-hundred day simple moving average of $119.25. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 5.02. Ryman Hospitality Properties has a 1-year low of $83.82 and a 1-year high of $137.46. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 1.94 and a beta of 1.22.

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

Institutional Investors Weigh In On Ryman Hospitality Properties

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Ryman Hospitality Properties during the 2nd quarter worth about $1,438,737,000. Bank of New York Mellon Corp acquired a new position in Ryman Hospitality Properties during the 2nd quarter valued at about $78,347,000. Bruni J V & Co. Co. bought a new position in shares of Ryman Hospitality Properties in the 2nd quarter valued at about $65,555,872. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Ryman Hospitality Properties in the 2nd quarter valued at about $60,655,000. Finally, Legal & General Group Plc bought a new position in shares of Ryman Hospitality Properties in the 2nd quarter valued at about $52,107,000. 94.48% of the stock is owned by institutional investors and hedge funds.

About Ryman Hospitality Properties

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.