Red Rock Resorts (NASDAQ:RRR) Given Outperform Rating at Macquarie

Red Rock Resorts (NASDAQ:RRR - Get Free Report)'s stock had its "outperform" rating reiterated by equities researchers at Macquarie in a research note issued to investors on Friday,Benzinga reports. They currently have a $58.00 price target on the stock. Macquarie's price target would indicate a potential upside of 33.21% from the company's previous close.

Several other brokerages have also recently weighed in on RRR. Mizuho upped their price target on Red Rock Resorts from $44.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Susquehanna decreased their price objective on Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating on the stock in a report on Wednesday, April 16th. Stifel Nicolaus lowered their price target on shares of Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating for the company in a research note on Friday. Barclays lowered their price objective on Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Morgan Stanley dropped their target price on shares of Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $53.00.

Red Rock Resorts Stock Performance

RRR traded up $1.27 during trading on Friday, hitting $43.54. 138,775 shares of the company traded hands, compared to its average volume of 571,338. The stock's fifty day moving average is $43.47 and its 200 day moving average is $47.37. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a one year low of $35.09 and a one year high of $61.73. The firm has a market cap of $4.62 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 4.32 and a beta of 1.69.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.33. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The company had revenue of $497.86 million during the quarter, compared to analyst estimates of $499.12 million. During the same quarter last year, the firm posted $0.68 EPS. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities analysts predict that Red Rock Resorts will post 1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Red Rock Resorts

Large investors have recently made changes to their positions in the business. Long Pond Capital LP raised its holdings in Red Rock Resorts by 142.5% in the fourth quarter. Long Pond Capital LP now owns 1,474,153 shares of the company's stock worth $68,165,000 after buying an additional 866,320 shares during the last quarter. Bamco Inc. NY increased its position in shares of Red Rock Resorts by 6.9% during the 4th quarter. Bamco Inc. NY now owns 11,356,201 shares of the company's stock valued at $525,111,000 after purchasing an additional 732,917 shares during the last quarter. Eminence Capital LP raised its position in Red Rock Resorts by 36.1% in the fourth quarter. Eminence Capital LP now owns 2,056,588 shares of the company's stock worth $95,097,000 after acquiring an additional 546,047 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Red Rock Resorts by 167.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company's stock worth $19,534,000 after buying an additional 264,609 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of Red Rock Resorts by 19.2% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company's stock valued at $69,494,000 after buying an additional 258,310 shares in the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

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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