Red Rock Resorts (NASDAQ:RRR) PT Set at $49.00 by Morgan Stanley

Red Rock Resorts (NASDAQ:RRR) received a $49.00 price target from research analysts at Morgan Stanley in a research report issued on Friday, MarketBeat.com reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 12.70% from the company’s current price.

RRR has been the topic of several other reports. Susquehanna dropped their price objective on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a research report on Wednesday, April 16th. Truist Financial dropped their price objective on shares of Red Rock Resorts from $56.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Barclays dropped their price objective on shares of Red Rock Resorts from $58.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. JMP Securities dropped their price objective on shares of Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 17th. Finally, Stifel Nicolaus dropped their price objective on shares of Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating on the stock in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.55.

Red Rock Resorts Stock Performance

NASDAQ RRR opened at $56.13 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 9.04. The firm’s fifty day moving average price is $49.60 and its two-hundred day moving average price is $46.97. Red Rock Resorts has a 1 year low of $35.09 and a 1 year high of $61.73. The firm has a market capitalization of $5.95 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 5.93 and a beta of 1.62.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.33. The firm had revenue of $497.86 million for the quarter, compared to analyst estimates of $499.12 million. Red Rock Resorts had a net margin of 8.01% and a return on equity of 56.45%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 earnings per share. As a group, research analysts anticipate that Red Rock Resorts will post 1.76 EPS for the current year.

Hedge Funds Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of Red Rock Resorts by 7,978.4% in the first quarter. GAMMA Investing LLC now owns 8,240 shares of the company’s stock valued at $357,000 after acquiring an additional 8,138 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Red Rock Resorts by 19.2% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock worth $69,494,000 after buying an additional 258,310 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Red Rock Resorts during the first quarter worth about $750,000. KBC Group NV grew its stake in Red Rock Resorts by 44.6% during the first quarter. KBC Group NV now owns 2,887 shares of the company’s stock worth $125,000 after buying an additional 891 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Red Rock Resorts by 47.4% during the fourth quarter. Deutsche Bank AG now owns 41,788 shares of the company’s stock worth $1,932,000 after buying an additional 13,441 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

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.