Red Rock Resorts (NASDAQ:RRR) PT Raised to $69.00

Red Rock Resorts (NASDAQ:RRRGet Free Report) had its price target raised by research analysts at JPMorgan Chase & Co. from $63.00 to $69.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 12.18% from the stock’s current price.

RRR has been the subject of a number of other reports. Truist Financial upped their target price on Red Rock Resorts from $46.00 to $55.00 and gave the stock a “hold” rating in a research report on Wednesday, December 20th. Mizuho initiated coverage on Red Rock Resorts in a report on Tuesday, March 26th. They issued a “buy” rating and a $69.00 price target on the stock. Morgan Stanley upped their price target on Red Rock Resorts from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, February 13th. Barclays upped their price target on Red Rock Resorts from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, Stifel Nicolaus upped their price target on Red Rock Resorts from $47.00 to $54.00 and gave the company a “hold” rating in a report on Thursday, December 21st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Red Rock Resorts has an average rating of “Moderate Buy” and a consensus target price of $60.82.

Check Out Our Latest Stock Analysis on RRR

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR opened at $61.51 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 13.54. The stock has a 50 day simple moving average of $57.02 and a 200-day simple moving average of $49.57. The company has a market cap of $6.47 billion, a PE ratio of 20.85, a P/E/G ratio of 4.09 and a beta of 2.06. Red Rock Resorts has a 12-month low of $37.82 and a 12-month high of $61.98.

Red Rock Resorts (NASDAQ:RRRGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.55. The business had revenue of $462.71 million during the quarter, compared to the consensus estimate of $440.75 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. On average, equities research analysts forecast that Red Rock Resorts will post 1.9 EPS for the current year.

Insider Transactions at Red Rock Resorts

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of the company’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 transaction, the chief financial officer now directly owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 54.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Red Rock Resorts

A number of large investors have recently bought and sold shares of the business. Bamco Inc. NY boosted its holdings in Red Rock Resorts by 10.8% in the third quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock worth $404,135,000 after purchasing an additional 962,841 shares in the last quarter. FMR LLC boosted its holdings in Red Rock Resorts by 46.4% during the third quarter. FMR LLC now owns 5,249,335 shares of the company’s stock valued at $215,223,000 after acquiring an additional 1,663,839 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in Red Rock Resorts by 1.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,827,336 shares of the company’s stock valued at $197,921,000 after acquiring an additional 91,798 shares during the period. Eminence Capital LP boosted its holdings in Red Rock Resorts by 21.1% during the fourth quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock valued at $126,582,000 after acquiring an additional 413,871 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Red Rock Resorts by 2.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,493,068 shares of the company’s stock valued at $49,809,000 after acquiring an additional 28,665 shares during the period. 47.84% of the stock is currently owned by institutional investors.

Red Rock Resorts Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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