Red Rock Resorts (NASDAQ:RRR) Price Target Cut to $66.00 by Analysts at Mizuho

Red Rock Resorts (NASDAQ:RRR) had its target price trimmed by Mizuho from $69.00 to $66.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

RRR has been the topic of several other reports. JPMorgan Chase & Co. increased their price objective on Red Rock Resorts from $63.00 to $69.00 and gave the company an overweight rating in a research report on Monday, April 1st. Bank of America increased their price objective on Red Rock Resorts from $52.00 to $57.00 and gave the company a buy rating in a research report on Monday, April 8th. Susquehanna increased their price objective on Red Rock Resorts from $52.00 to $66.00 and gave the company a positive rating in a research report on Thursday, February 8th. JMP Securities raised their price target on Red Rock Resorts from $61.00 to $66.00 and gave the stock a market outperform rating in a research report on Friday, April 19th. Finally, Barclays raised their price target on Red Rock Resorts from $62.00 to $64.00 and gave the stock an overweight rating in a research report on Friday, April 19th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $61.75.

Red Rock Resorts Stock Down 7.6 %

Shares of NASDAQ RRR opened at $50.22 on Wednesday. Red Rock Resorts has a one year low of $37.82 and a one year high of $63.28. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76. The business’s fifty day moving average price is $57.69 and its 200-day moving average price is $52.50. The stock has a market capitalization of $5.28 billion, a PE ratio of 17.02, a P/E/G ratio of 2.81 and a beta of 2.08.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.18. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The business had revenue of $488.90 million for the quarter, compared to analysts’ expectations of $490.49 million. During the same quarter in the prior year, the firm posted $0.75 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities research analysts anticipate that Red Rock Resorts will post 1.92 EPS for the current year.

Insider Buying and Selling

In related 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 completion of the sale, the chief financial officer now owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 53.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Red Rock Resorts

Several hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new position in shares of Red Rock Resorts in the first quarter worth about $78,000. Virtu Financial LLC bought a new position in shares of Red Rock Resorts in the fourth quarter worth about $212,000. Core Wealth Partners LLC bought a new position in shares of Red Rock Resorts in the fourth quarter worth about $213,000. SG Americas Securities LLC bought a new position in shares of Red Rock Resorts in the first quarter worth about $236,000. Finally, Malaga Cove Capital LLC bought a new position in shares of Red Rock Resorts in the third quarter worth about $242,000. Institutional investors own 47.84% of the company’s stock.

About Red Rock Resorts

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.