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

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

A number of other research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Red Rock Resorts from $54.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Morgan Stanley upped their target price on Red Rock Resorts from $51.00 to $53.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Bank of America upped their target price on Red Rock Resorts from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Barclays upped their target price on Red Rock Resorts from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Susquehanna upped their price objective on Red Rock Resorts from $52.00 to $66.00 and gave the stock a “positive” rating in a research report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.67.

Red Rock Resorts Stock Up 1.6 %

Shares of RRR stock opened at $59.85 on Tuesday. The company has a 50 day simple moving average of $58.36 and a two-hundred day simple moving average of $51.61. The stock has a market cap of $6.30 billion, a P/E ratio of 20.29, a P/E/G ratio of 3.00 and a beta of 2.06. Red Rock Resorts has a 12 month low of $37.82 and a 12 month high of $63.28. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 13.54.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $462.71 million for the quarter, compared to analysts’ expectations of $440.75 million. During the same period in the prior year, the firm earned $1.00 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, research analysts expect that Red Rock Resorts will post 1.93 earnings per share for the current year.

Insider Buying and Selling at Red Rock Resorts

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.74, for a total value of $434,204.80. Following the sale, the chief financial officer now owns 243,808 shares of the company’s stock, valued at approximately $14,077,473.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 54.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Red Rock Resorts

A number of hedge funds have recently bought and sold shares of the stock. Coronation Fund Managers Ltd. increased its position in Red Rock Resorts by 2.8% during the third quarter. Coronation Fund Managers Ltd. now owns 126,696 shares of the company’s stock worth $5,195,000 after buying an additional 3,486 shares during the period. Bank of New York Mellon Corp lifted its position in Red Rock Resorts by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 401,209 shares of the company’s stock worth $16,450,000 after buying an additional 4,432 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Red Rock Resorts by 13.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,201 shares of the company’s stock worth $459,000 after buying an additional 1,330 shares during the period. TD Asset Management Inc increased its stake in Red Rock Resorts by 5.3% during the third quarter. TD Asset Management Inc now owns 35,606 shares of the company’s stock worth $1,460,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Malaga Cove Capital LLC acquired a new stake in Red Rock Resorts during the third quarter worth about $242,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

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.