Truist Financial Boosts Red Rock Resorts (NASDAQ:RRR) Price Target to $60.00

Red Rock Resorts (NASDAQ:RRR - Get Free Report) had its target price lifted by analysts at Truist Financial from $58.00 to $60.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's price objective would suggest a potential upside of 1.82% from the stock's previous close.

Several other analysts have also issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Red Rock Resorts from $57.00 to $62.00 and gave the company an "overweight" rating in a research report on Thursday, February 8th. Morgan Stanley raised their price target on shares of Red Rock Resorts from $51.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock a "buy" rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. raised their price target on shares of Red Rock Resorts from $63.00 to $69.00 and gave the stock an "overweight" rating in a research note on Monday, April 1st. Finally, JMP Securities raised their price target on shares of Red Rock Resorts from $61.00 to $66.00 and gave the stock a "market outperform" rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $61.67.

Red Rock Resorts Stock Performance

RRR stock traded up $0.57 during midday trading on Tuesday, hitting $58.93. 270,193 shares of the stock traded hands, compared to its average volume of 406,541. The firm has a market cap of $6.20 billion, a P/E ratio of 19.98, a PEG ratio of 2.95 and a beta of 2.06. 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 stock's fifty day simple moving average is $58.32 and its 200-day simple moving average is $51.55. Red Rock Resorts has a 1-year low of $37.82 and a 1-year high of $63.28.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its earnings results on Wednesday, February 7th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.55. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The business had revenue of $462.71 million for the quarter, compared to analyst estimates of $440.75 million. During the same quarter last year, the business earned $1.00 earnings per share. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. On average, analysts expect that Red Rock Resorts will post 1.93 earnings per share for the current year.

Insider Activity

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of Red Rock Resorts stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 243,808 shares in the company, valued at $14,077,473.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 54.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in Red Rock Resorts during the 4th quarter worth approximately $212,000. Core Wealth Partners LLC acquired a new position in Red Rock Resorts during the 4th quarter worth approximately $213,000. Malaga Cove Capital LLC acquired a new position in Red Rock Resorts during the 3rd quarter worth approximately $242,000. Valeo Financial Advisors LLC acquired a new position in Red Rock Resorts during the 4th quarter worth approximately $255,000. Finally, VELA Investment Management LLC acquired a new position in Red Rock Resorts during the 4th quarter worth approximately $256,000. Institutional investors and hedge funds 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.