Red Rock Resorts (NASDAQ:RRR) Price Target Lowered to $63.00 at Wells Fargo & Company

Red Rock Resorts (NASDAQ:RRR) had its price target decreased by Wells Fargo & Company from $66.00 to $63.00 in a report published on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on RRR. Stifel Nicolaus dropped their price objective on Red Rock Resorts from $61.00 to $59.00 and set a hold rating on the stock in a research report on Wednesday. Mizuho reduced their price target on Red Rock Resorts from $69.00 to $66.00 and set a buy rating for the company in a research report on Wednesday. Morgan Stanley boosted their price objective 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 lifted their price target on Red Rock Resorts from $52.00 to $57.00 and gave the stock a buy rating in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. lifted their price target on Red Rock Resorts from $63.00 to $69.00 and gave the stock an overweight rating in a research note on Monday, April 1st. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Red Rock Resorts currently has a consensus rating of Moderate Buy and a consensus price target of $61.75.

Red Rock Resorts Stock Up 0.9 %

Shares of NASDAQ:RRR traded up $0.43 on Wednesday, hitting $50.65. 47,863 shares of the company traded hands, compared to its average volume of 439,120. Red Rock Resorts has a 52 week low of $37.82 and a 52 week high of $63.28. The stock has a 50 day simple moving average of $57.69 and a 200-day simple moving average of $52.50. The company has a market cap of $5.33 billion, a PE ratio of 17.02, a PEG ratio of 2.81 and a beta of 2.08. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 13.54.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.18. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The business had revenue of $488.90 million during the quarter, compared to the consensus estimate of $490.49 million. During the same period in the previous year, the company posted $0.75 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, research analysts expect that Red Rock Resorts will post 1.92 earnings per share for the current year.

Insider Buying and Selling

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the business’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 sale, the chief financial officer now directly owns 243,808 shares of the company’s stock, valued at approximately $14,077,473.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 53.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in Red Rock Resorts by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 401,209 shares of the company’s stock worth $16,450,000 after acquiring an additional 4,432 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Red Rock Resorts by 13.5% during the 3rd 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 in the last quarter. TD Asset Management Inc lifted its position in Red Rock Resorts by 5.3% during the 3rd quarter. TD Asset Management Inc now owns 35,606 shares of the company’s stock worth $1,460,000 after buying an additional 1,800 shares in the last quarter. Malaga Cove Capital LLC bought a new stake in Red Rock Resorts during the 3rd quarter worth about $242,000. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of Red Rock Resorts by 1.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,827,336 shares of the company’s stock worth $197,921,000 after purchasing an additional 91,798 shares during 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.