Susquehanna Raises Red Rock Resorts (NASDAQ:RRR) Price Target to $70.00

Red Rock Resorts (NASDAQ:RRR) had its price objective raised by investment analysts at Susquehanna from $63.00 to $70.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price objective points to a potential upside of 23.92% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Red Rock Resorts from $63.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Truist Financial dropped their price target on shares of Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Wednesday. JMP Securities dropped their price target on shares of Red Rock Resorts from $66.00 to $65.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 8th. Stifel Nicolaus dropped their price target on shares of Red Rock Resorts from $61.00 to $59.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Finally, Wells Fargo & Company lowered shares of Red Rock Resorts from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $63.00 to $64.00 in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.33.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $56.49 on Wednesday. The firm has a 50 day simple moving average of $53.59 and a 200-day simple moving average of $55.24. The company has a debt-to-equity ratio of 18.49, a current ratio of 0.90 and a quick ratio of 0.85. The firm has a market cap of $5.97 billion, a PE ratio of 19.61, a P/E/G ratio of 2.89 and a beta of 2.04. Red Rock Resorts has a 1-year low of $37.82 and a 1-year high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. The business had revenue of $486.40 million during the quarter, compared to analyst estimates of $475.80 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 87.05%. The company’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 earnings per share. On average, equities analysts expect that Red Rock Resorts will post 1.83 EPS for the current year.

Insider Transactions at Red Rock Resorts

In other news, CEO Frank J. Fertitta III sold 800,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $50.39, for a total value of $40,312,000.00. Following the completion of the sale, the chief executive officer now owns 45,847,301 shares of the company’s stock, valued at $2,310,245,497.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 53.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RRR. Covestor Ltd boosted its stake in shares of Red Rock Resorts by 16,666.7% in the first quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after purchasing an additional 500 shares during the period. Headlands Technologies LLC purchased a new position in shares of Red Rock Resorts in the first quarter valued at $78,000. Virtu Financial LLC purchased a new position in shares of Red Rock Resorts in the fourth quarter valued at $212,000. Core Wealth Partners LLC purchased a new position in shares of Red Rock Resorts in the fourth quarter valued at $213,000. Finally, SG Americas Securities LLC bought a new position in Red Rock Resorts during the 1st quarter valued at $236,000. 47.84% of the stock is currently owned by hedge funds and other 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.