Red Rock Resorts (NASDAQ:RRR - Free Report) had its target price reduced by Barclays from $64.00 to $63.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.
Other analysts also recently issued research reports about the stock. Wells Fargo & Company cut their price target on shares of Red Rock Resorts from $66.00 to $63.00 and set an overweight rating for the company in a report on Wednesday. Morgan Stanley raised their target price on Red Rock Resorts from $51.00 to $53.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Truist Financial boosted their price target on Red Rock Resorts from $58.00 to $60.00 and gave the stock a hold rating in a report on Tuesday, April 23rd. Bank of America raised their price objective on Red Rock Resorts from $52.00 to $57.00 and gave the company a buy rating in a research note on Monday, April 8th. Finally, Mizuho decreased their target price on Red Rock Resorts from $69.00 to $66.00 and set a buy rating on the stock in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $61.75.
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Red Rock Resorts Stock Performance
Red Rock Resorts stock traded down $4.14 during trading hours on Wednesday, hitting $50.22. The company had a trading volume of 2,052,206 shares, compared to its average volume of 443,730. The firm has a 50-day moving average of $57.69 and a 200 day moving average of $52.50. 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 firm has a market cap of $5.28 billion, a PE ratio of 17.02, a PEG ratio of 2.81 and a beta of 2.08. Red Rock Resorts has a one year low of $37.82 and a one year high of $63.28.
Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.68 EPS for the quarter, beating 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 firm had revenue of $488.90 million for the quarter, compared to analyst estimates of $490.49 million. During the same period in the prior year, the firm posted $0.75 EPS. The company's revenue for the quarter was up 12.7% on a year-over-year basis. On average, sell-side analysts expect that Red Rock Resorts will post 1.92 earnings per share for the current year.
Insider Activity at Red Rock Resorts
In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm's 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 transaction, the chief financial officer now owns 243,808 shares in the company, valued at $14,077,473.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 53.28% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Bamco Inc. NY lifted its stake 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 valued at $404,135,000 after purchasing an additional 962,841 shares during the last quarter. FMR LLC lifted its position in shares of Red Rock Resorts by 46.4% during the 3rd quarter. FMR LLC now owns 5,249,335 shares of the company's stock valued at $215,223,000 after buying an additional 1,663,839 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Red Rock Resorts by 1.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,827,336 shares of the company's stock worth $197,921,000 after acquiring an additional 91,798 shares during the period. Eminence Capital LP increased its holdings in Red Rock Resorts by 21.1% in the 4th quarter. Eminence Capital LP now owns 2,373,556 shares of the company's stock worth $126,582,000 after acquiring an additional 413,871 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in Red Rock Resorts by 2.4% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,386,676 shares of the company's stock valued at $73,951,000 after acquiring an additional 32,427 shares during the period. Institutional investors own 47.84% of the company's stock.
About Red Rock Resorts
(
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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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