Morgan Stanley Issues Positive Forecast for Red Rock Resorts (NASDAQ:RRR) Stock Price

Red Rock Resorts (NASDAQ:RRR - Get Free Report) had its price objective hoisted by investment analysts at Morgan Stanley from $47.00 to $49.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target suggests a potential downside of 12.18% from the stock's current price.

A number of other analysts also recently issued reports on RRR. JMP Securities dropped their price target on Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating for the company in a research report on Thursday, April 17th. Mizuho raised Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 price target on the stock in a report on Monday, June 2nd. Barclays lowered their price objective on Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Macquarie restated an "outperform" rating and issued a $58.00 price target on shares of Red Rock Resorts in a research note on Friday, May 2nd. Finally, Stifel Nicolaus dropped their price target on Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating for the company in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $52.55.

Red Rock Resorts Stock Down 2.7%

NASDAQ RRR traded down $1.53 on Friday, reaching $55.79. The company had a trading volume of 166,616 shares, compared to its average volume of 615,578. The stock has a market capitalization of $5.92 billion, a P/E ratio of 21.56, a P/E/G ratio of 5.79 and a beta of 1.62. The company's fifty day moving average is $49.36 and its 200 day moving average is $46.89. Red Rock Resorts has a 52-week low of $35.09 and a 52-week high of $61.73. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 9.04.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.33. Red Rock Resorts had a return on equity of 56.45% and a net margin of 8.01%. The firm had revenue of $497.86 million during the quarter, compared to analyst estimates of $499.12 million. During the same period last year, the firm posted $0.68 EPS. The business's revenue was up 1.8% compared to the same quarter last year. Sell-side analysts anticipate that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RRR. Arizona State Retirement System grew its holdings in Red Rock Resorts by 1.5% in the 4th quarter. Arizona State Retirement System now owns 14,707 shares of the company's stock valued at $680,000 after buying an additional 216 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Red Rock Resorts by 3.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,662 shares of the company's stock worth $492,000 after purchasing an additional 314 shares during the period. Mayfair Advisory Group LLC grew its holdings in shares of Red Rock Resorts by 8.1% during the 1st quarter. Mayfair Advisory Group LLC now owns 4,861 shares of the company's stock worth $211,000 after purchasing an additional 364 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Red Rock Resorts by 3.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 15,651 shares of the company's stock worth $679,000 after purchasing an additional 456 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Red Rock Resorts by 47.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock valued at $95,000 after acquiring an additional 664 shares during the period. 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.

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