Red Rock Resorts (NASDAQ:RRR) PT Lowered to $58.00 at Truist Financial

Red Rock Resorts (NASDAQ:RRR) had its target price reduced by Truist Financial from $63.00 to $58.00 in a report released on Wednesday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other brokerages also recently commented on RRR. Macquarie boosted their price objective on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Morgan Stanley boosted their price target on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Susquehanna raised their price objective on Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Stifel Nicolaus boosted their target price on Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, Barclays raised their price target on shares of Red Rock Resorts from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.58.

Red Rock Resorts Stock Down 2.4 %

Shares of NASDAQ RRR opened at $50.28 on Wednesday. The stock has a market capitalization of $5.31 billion, a P/E ratio of 17.83, a PEG ratio of 5.43 and a beta of 2.04. The stock’s fifty day moving average is $54.53 and its 200 day moving average is $54.50. Red Rock Resorts has a 52 week low of $37.82 and a 52 week high of $63.28. The company has a debt-to-equity ratio of 15.15, a quick ratio of 0.89 and a current ratio of 0.94.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, July 23rd. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.43 by $0.16. Red Rock Resorts had a net margin of 9.21% and a return on equity of 83.84%. The firm had revenue of $486.40 million for the quarter, compared to analyst estimates of $475.80 million. During the same period last year, the firm earned $0.65 EPS. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. Sell-side analysts forecast that Red Rock Resorts will post 1.66 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Frank J. Fertitta III bought 67,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $49.77 per share, with a total value of $3,334,590.00. Following the transaction, the chief executive officer now directly owns 46,048,301 shares in the company, valued at approximately $2,291,823,940.77. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Kord Nichols sold 49,464 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $58.00, for a total value of $2,868,912.00. Following the sale, the chief operating officer now directly owns 71,946 shares of the company’s stock, valued at approximately $4,172,868. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Frank J. Fertitta III bought 67,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $49.77 per share, with a total value of $3,334,590.00. Following the purchase, the chief executive officer now directly owns 46,048,301 shares of the company’s stock, valued at $2,291,823,940.77. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 200,000 shares of company stock valued at $10,426,000. Insiders own 53.28% of the company’s stock.

Institutional Trading of Red Rock Resorts

Institutional investors have recently bought and sold shares of the company. Edgestream Partners L.P. bought a new stake in shares of Red Rock Resorts during the 1st quarter valued at about $1,238,000. BNP Paribas Financial Markets boosted its holdings in shares of Red Rock Resorts by 35.5% during the 1st quarter. BNP Paribas Financial Markets now owns 32,080 shares of the company’s stock worth $1,919,000 after buying an additional 8,402 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position 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 worth $56,491,000 after buying an additional 188,095 shares during the period. Nicholas Investment Partners LP bought a new stake in shares of Red Rock Resorts in the 2nd quarter valued at $5,336,000. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Red Rock Resorts during the 1st quarter valued at $2,260,000. 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.