Red Rock Resorts (NASDAQ:RRR) Earns “Market Outperform” Rating from JMP Securities

Red Rock Resorts (NASDAQ:RRR)‘s stock had its “market outperform” rating reissued by stock analysts at JMP Securities in a research note issued to investors on Monday, Benzinga reports. They presently have a $65.00 target price on the stock. JMP Securities’ price objective would suggest a potential upside of 23.34% from the company’s current price.

A number of other research analysts also recently weighed in on the stock. Macquarie increased their target price on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Stifel Nicolaus increased their target price on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Barclays raised their price objective on shares of Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Susquehanna raised their price objective on shares of Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Red Rock Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.50.

Red Rock Resorts Stock Up 0.3 %

RRR stock traded up $0.16 during trading on Monday, reaching $52.70. The stock had a trading volume of 107,372 shares, compared to its average volume of 461,104. Red Rock Resorts has a one year low of $37.82 and a one year high of $63.28. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 15.15. The company’s 50 day moving average is $54.69 and its two-hundred day moving average is $54.93. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 5.39 and a beta of 2.04.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. Red Rock Resorts had a net margin of 9.21% and a return on equity of 83.84%. The business had revenue of $486.40 million during the quarter, compared to the consensus estimate of $475.80 million. During the same period in the prior year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. Equities research analysts forecast that Red Rock Resorts will post 1.66 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Frank J. Fertitta III acquired 67,000 shares of the stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $49.77 per share, for a total transaction of $3,334,590.00. Following the transaction, the chief executive officer now owns 46,048,301 shares in the company, valued at $2,291,823,940.77. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Kord Nichols sold 49,464 shares of Red Rock Resorts stock in a transaction on Monday, July 29th. The shares were sold at an average price of $58.00, for a total value of $2,868,912.00. Following the transaction, the chief operating officer now owns 71,946 shares in the company, valued at $4,172,868. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank J. Fertitta III bought 67,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $49.77 per share, for a total transaction of $3,334,590.00. Following the transaction, the chief executive officer now owns 46,048,301 shares in the company, valued at $2,291,823,940.77. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 200,000 shares of company stock worth $10,426,000 in the last three months. 53.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Red Rock Resorts

Large investors have recently added to or reduced their stakes in the business. Bamco Inc. NY grew its holdings in Red Rock Resorts by 0.5% in the 1st quarter. Bamco Inc. NY now owns 10,409,100 shares of the company’s stock worth $622,672,000 after acquiring an additional 50,246 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Red Rock Resorts by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock valued at $307,292,000 after purchasing an additional 209,593 shares in the last quarter. Eminence Capital LP boosted its stake in shares of Red Rock Resorts by 23.7% during the 2nd quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock valued at $107,265,000 after purchasing an additional 374,128 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Red Rock Resorts by 26.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock valued at $65,706,000 after purchasing an additional 251,855 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Red Rock Resorts by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 404,153 shares of the company’s stock valued at $22,200,000 after purchasing an additional 24,992 shares in the last quarter. Hedge funds and other 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.