Stifel Nicolaus Lowers Red Rock Resorts (NASDAQ:RRR) Price Target to $59.00

Red Rock Resorts (NASDAQ:RRR) had its price target decreased by Stifel Nicolaus from $61.00 to $59.00 in a research report released on Wednesday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Macquarie raised Red Rock Resorts from a neutral rating to an outperform rating and boosted their price target for the company from $51.00 to $58.00 in a research report on Wednesday, January 17th. Morgan Stanley upped their price objective on Red Rock Resorts from $51.00 to $53.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. Barclays increased their price target on Red Rock Resorts from $62.00 to $64.00 and gave the stock an overweight rating in a research report on Friday, April 19th. Truist Financial increased their price target on Red Rock Resorts from $58.00 to $60.00 and gave the stock a hold rating in a research report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. raised their target price on Red Rock Resorts from $63.00 to $69.00 and gave the company an overweight rating in a research report on Monday, April 1st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $61.75.

Red Rock Resorts Stock Performance

Shares of NASDAQ:RRR traded up $0.43 on Wednesday, reaching $50.65. The company’s stock had a trading volume of 47,863 shares, 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’s 50-day moving average is $57.69 and its two-hundred day moving average is $52.50. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market capitalization of $5.33 billion, a P/E ratio of 17.02, a PEG ratio of 2.81 and a beta of 2.08.

Red Rock Resorts (NASDAQ:RRR) last posted 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 net margin of 10.21% and a return on equity of 114.32%. The company had revenue of $488.90 million during the quarter, compared to the consensus estimate of $490.49 million. During the same period last year, the firm earned $0.75 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, sell-side analysts forecast that Red Rock Resorts will post 1.92 EPS for the current year.

Insider Activity

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.74, for a total value of $434,204.80. Following the completion of the sale, the chief financial officer now directly owns 243,808 shares in the company, valued at approximately $14,077,473.92. The sale 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 corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Kestra Private Wealth Services LLC increased its stake in Red Rock Resorts by 1.1% in the third quarter. Kestra Private Wealth Services LLC now owns 27,588 shares of the company’s stock valued at $1,131,000 after acquiring an additional 300 shares during the last quarter. Institute for Wealth Management LLC. boosted its stake 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 valued at $403,000 after purchasing an additional 308 shares in the last quarter. Avior Wealth Management LLC raised its position 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 acquiring an additional 408 shares during the last quarter. Truist Financial Corp raised its position 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 acquiring an additional 627 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Red Rock Resorts by 8.5% during the first quarter. ProShare Advisors LLC now owns 8,559 shares of the company’s stock worth $512,000 after acquiring an additional 674 shares during the last quarter. 47.84% of the stock is owned by institutional investors.

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.