Red Rock Resorts (NASDAQ:RRR) Earns Hold (C+) Rating from Weiss Ratings

Key Points

• Red Rock Resorts' stock has received a "hold (C+)" rating from Weiss Ratings, indicating a cautious outlook from analysts.
• Mizuho and Morgan Stanley both raised their target prices for Red Rock Resorts, with Mizuho setting it at $62.00 and Morgan Stanley at $53.00.
• The company reported strong quarterly earnings, with $0.95 EPS exceeding consensus estimates of $0.40, and revenue of $526.27 million surpassing expectations.

Red Rock Resorts (NASDAQ:RRR - Get Free Report)'s stock had its "hold (c+)" rating reissued by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

RRR has been the topic of a number of other reports. Mizuho lifted their target price on Red Rock Resorts from $59.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Morgan Stanley lifted their target price on Red Rock Resorts from $49.00 to $53.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Susquehanna reaffirmed a "positive" rating and set a $68.00 target price (up from $65.00) on shares of Red Rock Resorts in a report on Wednesday, July 30th. JPMorgan Chase & Co. assumed coverage on Red Rock Resorts in a report on Monday, June 23rd. They set an "overweight" rating and a $62.00 target price on the stock. Finally, Stifel Nicolaus set a $60.00 target price on Red Rock Resorts and gave the stock a "hold" rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.82.

Red Rock Resorts Price Performance

Shares of RRR opened at $57.31 on Wednesday. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 2.33 and a beta of 1.47. The company has a debt-to-equity ratio of 11.28, a quick ratio of 0.84 and a current ratio of 0.89. Red Rock Resorts has a one year low of $35.09 and a one year high of $63.60. The stock's fifty day moving average is $60.54 and its 200-day moving average is $52.12.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.55. The company had revenue of $526.27 million for the quarter, compared to analyst estimates of $485.44 million. Red Rock Resorts had a return on equity of 59.97% and a net margin of 8.89%.The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. Equities analysts anticipate that Red Rock Resorts will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other Red Rock Resorts news, EVP Jeffrey T. Welch sold 56,653 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $60.23, for a total transaction of $3,412,210.19. Following the completion of the sale, the executive vice president directly owned 314,767 shares in the company, valued at approximately $18,958,416.41. This trade represents a 15.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Kord Nichols sold 37,075 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $61.03, for a total value of $2,262,687.25. Following the sale, the chief operating officer owned 87,036 shares of the company's stock, valued at $5,311,807.08. The trade was a 29.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 262,703 shares of company stock worth $15,764,672. 53.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors have recently bought and sold shares of the business. Bamco Inc. NY boosted its position in Red Rock Resorts by 5.7% during the 2nd quarter. Bamco Inc. NY now owns 12,269,004 shares of the company's stock worth $638,356,000 after acquiring an additional 666,593 shares during the period. Eminence Capital LP lifted its holdings in shares of Red Rock Resorts by 23.4% during the 2nd quarter. Eminence Capital LP now owns 3,059,372 shares of the company's stock valued at $159,179,000 after buying an additional 581,061 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Red Rock Resorts by 10.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,773,603 shares of the company's stock valued at $92,281,000 after buying an additional 171,235 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Red Rock Resorts by 53.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 793,371 shares of the company's stock valued at $41,279,000 after buying an additional 277,426 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Red Rock Resorts by 56.2% during the 1st quarter. Millennium Management LLC now owns 430,150 shares of the company's stock valued at $18,656,000 after buying an additional 154,839 shares during the last quarter. 47.84% of the stock is currently 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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