Red Rock Resorts (NASDAQ:RRR) Now Covered by Analysts at JPMorgan Chase & Co.

Investment analysts at JPMorgan Chase & Co. began coverage on shares of Red Rock Resorts (NASDAQ:RRR - Get Free Report) in a report released on Monday, MarketBeat Ratings reports. The firm set an "overweight" rating and a $62.00 price target on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 23.43% from the company's current price.

A number of other equities analysts have also weighed in on the stock. Macquarie restated an "outperform" rating and set a $58.00 target price on shares of Red Rock Resorts in a research report on Friday, May 2nd. Stifel Nicolaus cut their price target on shares of Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating on the stock in a report on Friday, May 2nd. Morgan Stanley dropped their price objective on Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Susquehanna reduced their price objective on shares of Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating for the company in a research note on Wednesday, April 16th. Finally, Truist Financial dropped their target price on Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Red Rock Resorts presently has a consensus rating of "Moderate Buy" and an average price target of $52.00.

Red Rock Resorts Price Performance

Shares of RRR opened at $50.23 on Monday. The company has a market capitalization of $5.33 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 5.27 and a beta of 1.61. Red Rock Resorts has a twelve month low of $35.09 and a twelve month high of $61.73. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 9.04. The firm has a 50 day moving average of $46.01 and a 200 day moving average of $46.33.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings results 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 56.45% and a net margin of 8.01%. The firm had revenue of $497.86 million during the quarter, compared to analysts' expectations of $499.12 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. The company's revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Institutional Trading of Red Rock Resorts

Institutional investors and hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC grew its stake in Red Rock Resorts by 654.7% in the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock worth $41,000 after acquiring an additional 766 shares during the period. Pandora Wealth Inc. acquired a new position in shares of Red Rock Resorts during the 1st quarter valued at about $43,000. US Bancorp DE lifted its holdings in shares of Red Rock Resorts by 1,664.4% during the 1st quarter. US Bancorp DE now owns 1,041 shares of the company's stock worth $45,000 after acquiring an additional 982 shares during the period. New Age Alpha Advisors LLC acquired a new position in Red Rock Resorts in the first quarter valued at $89,000. Finally, Tower Research Capital LLC TRC lifted its position in Red Rock Resorts by 47.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock valued at $95,000 after buying an additional 664 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.