Red Rock Resorts (NASDAQ:RRR) PT Raised to $53.00

Red Rock Resorts (NASDAQ:RRR - Get Free Report) had its price target upped by analysts at Morgan Stanley from $51.00 to $53.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's target price indicates a potential downside of 14.34% from the stock's current price.

Several other equities analysts have also issued reports on the company. Truist Financial boosted their price objective on Red Rock Resorts from $46.00 to $55.00 and gave the company a "hold" rating in a research report on Wednesday, December 20th. Wells Fargo & Company boosted their price objective on Red Rock Resorts from $57.00 to $62.00 and gave the company an "overweight" rating in a research report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Red Rock Resorts from $54.00 to $62.00 and gave the company a "buy" rating in a research report on Wednesday, January 24th. Macquarie raised Red Rock Resorts from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $51.00 to $58.00 in a research report on Wednesday, January 17th. Finally, Susquehanna upped their price target on Red Rock Resorts from $52.00 to $66.00 and gave the stock a "positive" rating in a research report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.67.

Red Rock Resorts Trading Up 0.6 %

Shares of RRR stock traded up $0.39 on Tuesday, reaching $61.87. The company had a trading volume of 361,242 shares, compared to its average volume of 410,554. 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 market cap of $6.51 billion, a PE ratio of 20.94, a PEG ratio of 4.09 and a beta of 2.06. The company has a 50-day moving average of $57.58 and a 200-day moving average of $50.08. Red Rock Resorts has a 12 month low of $37.82 and a 12 month high of $63.28.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.55. The company had revenue of $462.71 million during the quarter, compared to analysts' expectations of $440.75 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. Red Rock Resorts's revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 EPS. On average, equities analysts forecast that Red Rock Resorts will post 1.95 earnings per share for the current year.

Insider Activity

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of the stock in a transaction that occurred 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 approximately $14,077,473.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 54.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Red Rock Resorts

A number of large investors have recently added to or reduced their stakes in RRR. Eminence Capital LP increased its position in Red Rock Resorts by 6.0% during the 3rd quarter. Eminence Capital LP now owns 1,959,685 shares of the company's stock worth $80,347,000 after buying an additional 111,651 shares during the period. Comerica Bank acquired a new stake in shares of Red Rock Resorts during the 2nd quarter worth $27,069,000. Swiss National Bank grew its holdings in shares of Red Rock Resorts by 1.0% during the 3rd quarter. Swiss National Bank now owns 108,700 shares of the company's stock worth $4,457,000 after purchasing an additional 1,100 shares in the last quarter. Bamco Inc. NY grew its holdings in shares of Red Rock Resorts by 10.8% during the 3rd 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. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Red Rock Resorts during the 4th quarter worth $40,331,000. 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.