Red Rock Resorts (NASDAQ:RRR) Price Target Raised to $60.00 at Truist Financial

Red Rock Resorts (NASDAQ:RRR) had its target price boosted by research analysts at Truist Financial from $58.00 to $60.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 1.57% from the company’s current price.

RRR has been the topic of several other research reports. Susquehanna lifted their price target on shares of Red Rock Resorts from $52.00 to $66.00 and gave the stock a “positive” rating in a research report on Thursday, February 8th. Mizuho assumed coverage on shares of Red Rock Resorts in a research note on Tuesday, March 26th. They issued a “buy” rating and a $69.00 price objective for the company. Bank of America raised their price objective on shares of Red Rock Resorts from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Macquarie raised shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $51.00 to $58.00 in a research note on Wednesday, January 17th. Finally, Barclays raised their price objective on shares of Red Rock Resorts from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.67.

Red Rock Resorts Stock Performance

Shares of NASDAQ:RRR traded up $0.71 during trading hours on Tuesday, hitting $59.07. The stock had a trading volume of 80,670 shares, compared to its average volume of 404,045. The stock’s fifty day simple moving average is $58.28 and its 200 day simple moving average is $51.42. Red Rock Resorts has a 1-year low of $37.82 and a 1-year high of $63.28. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 2.95 and a beta of 2.06. The company has a debt-to-equity ratio of 13.54, a quick ratio of 0.76 and a current ratio of 0.81.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.55. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The business had revenue of $462.71 million for the quarter, compared to analyst estimates of $440.75 million. During the same quarter last year, the business earned $1.00 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts anticipate that Red Rock Resorts will post 1.93 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Kestra Private Wealth Services LLC raised its holdings in Red Rock Resorts by 1.1% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 27,588 shares of the company’s stock worth $1,131,000 after acquiring an additional 300 shares during the period. Institute for Wealth Management LLC. raised its holdings in Red Rock Resorts by 4.2% in the 4th quarter. Institute for Wealth Management LLC. now owns 7,557 shares of the company’s stock worth $403,000 after acquiring an additional 308 shares during the period. Avior Wealth Management LLC raised its holdings in Red Rock Resorts by 4.3% in the 4th quarter. Avior Wealth Management LLC now owns 9,941 shares of the company’s stock worth $530,000 after acquiring an additional 408 shares during the period. Truist Financial Corp raised its holdings in Red Rock Resorts by 2.4% in the 4th quarter. Truist Financial Corp now owns 26,837 shares of the company’s stock worth $1,431,000 after acquiring an additional 627 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Red Rock Resorts by 7.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,071 shares of the company’s stock worth $644,000 after purchasing an additional 870 shares during the period. Institutional investors own 47.84% of the company’s stock.

About Red Rock Resorts

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.