Texas Capital Upgrades Red Rock Resorts (NASDAQ:RRR) to “Strong-Buy”

Red Rock Resorts (NASDAQ:RRR) was upgraded by equities researchers at Texas Capital to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

A number of other analysts also recently weighed in on the stock. Benchmark reissued a “buy” rating on shares of Red Rock Resorts in a research report on Monday, August 31st. JPMorgan Chase & Co. upped their price target on shares of Red Rock Resorts from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Weiss Ratings upgraded shares of Red Rock Resorts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Citizens Jmp raised their price objective on shares of Red Rock Resorts from $69.00 to $71.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $73.00 target price on shares of Red Rock Resorts in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $71.94.

Red Rock Resorts Stock Down 0.6%

Shares of RRR opened at $54.69 on Wednesday. Red Rock Resorts has a fifty-two week low of $50.52 and a fifty-two week high of $68.99. The company’s fifty day moving average is $61.96 and its two-hundred day moving average is $59.17. The firm has a market cap of $5.74 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 4.51 and a beta of 1.31. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 12.33.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.16. The business had revenue of $510.26 million during the quarter, compared to the consensus estimate of $500.08 million. Red Rock Resorts had a return on equity of 56.19% and a net margin of 8.43%.The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 EPS. Analysts forecast that Red Rock Resorts will post 1.54 earnings per share for the current year.

Insider Transactions at Red Rock Resorts

In related news, President Scott Kreeger sold 31,159 shares of Red Rock Resorts stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $61.78, for a total transaction of $1,925,003.02. Following the transaction, the president directly owned 203,881 shares of the company’s stock, valued at $12,595,768.18. The trade was a 13.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 54.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently bought and sold shares of the business. Kestra Advisory Services LLC bought a new position in shares of Red Rock Resorts during the 4th quarter valued at about $27,000. Rockefeller Capital Management L.P. raised its holdings in shares of Red Rock Resorts by 1,924.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock worth $31,000 after purchasing an additional 481 shares in the last quarter. Nykredit A S bought a new stake in shares of Red Rock Resorts in the 2nd quarter worth approximately $45,000. Public Employees Retirement System of Ohio acquired a new stake in Red Rock Resorts during the second quarter valued at approximately $47,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Red Rock Resorts during the second quarter valued at approximately $52,000. 47.84% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc is a gaming and entertainment company based in Las Vegas, Nevada. Through its subsidiary Station Casinos, the company owns and operates casino resorts, hotel properties, and neighborhood casinos, with a primary focus on the Southern Nevada market.

Its properties offer casino gaming, hotel accommodations, restaurants, bars, entertainment venues, meeting and event spaces, and other amenities. The portfolio includes Red Rock Casino Resort & Spa, Green Valley Ranch Resort Spa and Casino, Durango Casino & Resort, Palace Station, Boulder Station, Sunset Station, Santa Fe Station, and a number of Wildfire casino locations.