Red Rock Resorts (NASDAQ:RRR) PT Raised to $60.00

Red Rock Resorts (NASDAQ:RRR) had its price objective increased by investment analysts at Truist Financial from $58.00 to $60.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 0.25% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. Bank of America increased their price target on Red Rock Resorts from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Red Rock Resorts from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Susquehanna boosted their price objective on shares of Red Rock Resorts from $52.00 to $66.00 and gave the stock a “positive” rating in a research report on Thursday, February 8th. Macquarie upgraded shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and upped their target price for the company from $51.00 to $58.00 in a research report on Wednesday, January 17th. Finally, Barclays upped their target price on shares of Red Rock Resorts from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Red Rock Resorts has an average rating of “Moderate Buy” and an average target price of $61.67.

Red Rock Resorts Stock Up 1.6 %

RRR opened at $59.85 on Tuesday. Red Rock Resorts has a one year low of $37.82 and a one year high of $63.28. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 3.00 and a beta of 2.06. The business’s fifty day moving average is $58.36 and its two-hundred day moving average is $51.61. The company has a debt-to-equity ratio of 13.54, a quick ratio of 0.76 and a current ratio of 0.81.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.55. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The firm had revenue of $462.71 million during the quarter, compared to the consensus estimate of $440.75 million. During the same quarter in the prior year, the business posted $1.00 earnings per share. Red Rock Resorts’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts anticipate that Red Rock Resorts will post 1.93 EPS for the current fiscal year.

Insider Activity

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of Red Rock Resorts stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.74, for a total transaction of $434,204.80. Following the completion of the transaction, the chief financial officer now directly owns 243,808 shares in the company, valued at $14,077,473.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 54.20% of the company’s stock.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors have recently added to or reduced their stakes in RRR. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Red Rock Resorts by 24.9% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 944,340 shares of the company’s stock valued at $56,491,000 after buying an additional 188,095 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Red Rock Resorts during the 4th quarter valued at approximately $212,000. Eminence Capital LP lifted its stake in shares of Red Rock Resorts by 21.1% during the 4th quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock valued at $126,582,000 after buying an additional 413,871 shares in the last quarter. Capital World Investors purchased a new stake in shares of Red Rock Resorts during the 4th quarter valued at approximately $24,897,000. Finally, Capstone Investment Advisors LLC lifted its stake in shares of Red Rock Resorts by 44.9% during the 4th quarter. Capstone Investment Advisors LLC now owns 17,038 shares of the company’s stock valued at $909,000 after buying an additional 5,276 shares in the last quarter. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.