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

Red Rock Resorts (NASDAQ:RRR) had its price target lifted by research analysts at Truist Financial from $58.00 to $60.00 in a report released on Tuesday, April 23rd, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 16.41% from the company’s current price.

RRR has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price target on Red Rock Resorts from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Morgan Stanley increased their price target 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. JMP Securities increased their price target on Red Rock Resorts from $61.00 to $66.00 and gave the company a “market outperform” rating in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft increased their price target on Red Rock Resorts from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, Wells Fargo & Company increased their price target on Red Rock Resorts from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Red Rock Resorts presently has an average rating of “Moderate Buy” and a consensus price target of $61.58.

Red Rock Resorts Trading Up 0.4 %

Shares of Red Rock Resorts stock traded up $0.22 during trading on Tuesday, reaching $51.54. 26,063 shares of the company were exchanged, compared to its average volume of 441,035. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 18.49. Red Rock Resorts has a twelve month low of $37.82 and a twelve month high of $63.28. The business has a 50-day moving average price of $56.78 and a 200-day moving average price of $53.13. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 2.45 and a beta of 2.08.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.18. Red Rock Resorts had a return on equity of 98.44% and a net margin of 9.79%. The business had revenue of $488.90 million during the quarter, compared to analysts’ expectations of $490.49 million. During the same period in the previous year, the firm earned $0.75 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Sell-side analysts anticipate that Red Rock Resorts will post 1.83 EPS for the current fiscal year.

Insider Activity

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of Red Rock Resorts stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total value 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Frank J. Fertitta III sold 800,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $50.39, for a total transaction of $40,312,000.00. Following the sale, the chief executive officer now owns 45,847,301 shares of the company’s stock, valued at approximately $2,310,245,497.39. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $434,204.80. Following the sale, the chief financial officer now directly owns 243,808 shares in the company, valued at approximately $14,077,473.92. The disclosure for this sale can be found here. Corporate insiders own 53.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RRR. Covestor Ltd lifted its stake in shares of Red Rock Resorts by 16,666.7% in the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after purchasing an additional 500 shares during the period. Headlands Technologies LLC acquired a new position in shares of Red Rock Resorts in the 1st quarter valued at about $78,000. Virtu Financial LLC acquired a new position in shares of Red Rock Resorts in the 4th quarter valued at about $212,000. Core Wealth Partners LLC acquired a new position in shares of Red Rock Resorts in the 4th quarter valued at about $213,000. Finally, SG Americas Securities LLC acquired a new position in shares of Red Rock Resorts in the 1st quarter valued at about $236,000. 47.84% of the stock is owned by institutional investors and hedge funds.

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.