Red Rock Resorts (NASDAQ:RRR) Price Target Raised to $61.00

Red Rock Resorts (NASDAQ:RRR) had its price objective hoisted by equities research analysts at Susquehanna from $60.00 to $61.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price target indicates a potential upside of 14.19% from the stock’s current price.

Several other equities analysts have also commented on RRR. Macquarie reduced their price target on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Jefferies Financial Group restated a “hold” rating and issued a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. JMP Securities dropped their target price on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Truist Financial decreased their price target on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Finally, Barclays reduced their price objective on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.00.

Red Rock Resorts Trading Up 4.9 %

Red Rock Resorts stock traded up $2.50 during midday trading on Wednesday, reaching $53.42. The stock had a trading volume of 176,073 shares, compared to its average volume of 624,526. The stock has a market capitalization of $5.64 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 5.28 and a beta of 2.02. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The stock’s 50-day simple moving average is $47.30 and its 200 day simple moving average is $51.35. Red Rock Resorts has a twelve month low of $42.46 and a twelve month high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a net margin of 8.59% and a return on equity of 73.20%. Analysts expect that Red Rock Resorts will post 1.44 EPS for the current year.

Institutional Investors Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC grew its position in Red Rock Resorts by 4,050.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock worth $18,170,000 after purchasing an additional 325,727 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Red Rock Resorts by 20.6% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock valued at $62,149,000 after acquiring an additional 229,843 shares in the last quarter. Wellington Management Group LLP lifted its stake in Red Rock Resorts by 239.0% in the third quarter. Wellington Management Group LLP now owns 185,018 shares of the company’s stock valued at $10,072,000 after acquiring an additional 130,434 shares during the last quarter. Norges Bank bought a new stake in Red Rock Resorts in the fourth quarter worth approximately $5,352,000. Finally, Bamco Inc. NY increased its stake in shares of Red Rock Resorts by 1.0% during the 3rd quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock worth $578,332,000 after purchasing an additional 106,509 shares during the last quarter. 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.