Red Rock Resorts (NASDAQ:RRR) PT Raised to $65.00 at Macquarie

Red Rock Resorts (NASDAQ:RRR) had its target price boosted by analysts at Macquarie from $62.00 to $65.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price target would suggest a potential upside of 15.06% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Bank of America raised Red Rock Resorts from an “underperform” rating to a “neutral” rating and reduced their price target for the stock from $57.00 to $55.00 in a research report on Monday, May 13th. Susquehanna upped their price target on Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a research report on Wednesday. Wells Fargo & Company downgraded 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. Truist Financial reduced their price target on Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Barclays reduced their price target on Red Rock Resorts from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $63.33.

Red Rock Resorts Price Performance

Shares of RRR opened at $56.49 on Wednesday. The company has a debt-to-equity ratio of 18.49, a quick ratio of 0.85 and a current ratio of 0.90. The stock has a 50 day simple moving average of $53.59 and a 200 day simple moving average of $55.24. Red Rock Resorts has a 52-week low of $37.82 and a 52-week high of $63.28. The firm has a market capitalization 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 (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. Red Rock Resorts had a return on equity of 87.05% and a net margin of 9.21%. The business had revenue of $486.40 million during the quarter, compared to analyst estimates of $475.80 million. During the same period in the previous year, the firm earned $0.65 EPS. Red Rock Resorts’s quarterly revenue was up 16.9% compared to the same quarter last year. Sell-side analysts predict that Red Rock Resorts will post 1.83 EPS for the current fiscal year.

Insider Activity at Red Rock Resorts

In other Red Rock Resorts news, Vice President Lorenzo J. Fertitta purchased 800,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average price of $50.39 per share, for a total transaction of $40,312,000.00. Following the purchase, the insider now owns 47,447,301 shares in the company, valued at $2,390,869,497.39. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 53.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Red Rock Resorts

A number of large investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC raised its stake in Red Rock Resorts by 3.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company’s stock valued at $442,000 after acquiring an additional 292 shares during the period. Institute for Wealth Management LLC. lifted its holdings in shares of Red Rock Resorts by 4.2% during the fourth quarter. Institute for Wealth Management LLC. now owns 7,557 shares of the company’s stock worth $403,000 after buying an additional 308 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Red Rock Resorts by 4.3% during the fourth quarter. Avior Wealth Management LLC now owns 9,941 shares of the company’s stock worth $530,000 after buying an additional 408 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Red Rock Resorts by 16,666.7% during the first quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after buying an additional 500 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of Red Rock Resorts by 2.4% during the fourth quarter. Truist Financial Corp now owns 26,837 shares of the company’s stock worth $1,431,000 after buying an additional 627 shares in the last quarter. Institutional investors 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.