Red Rock Resorts (NASDAQ:RRR) Stock Price Expected to Rise, JMP Securities Analyst Says

Red Rock Resorts (NASDAQ:RRR - Get Free Report) had its target price hoisted by equities researchers at JMP Securities from $55.00 to $57.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. JMP Securities' price target would indicate a potential upside of 4.61% from the stock's previous close.

Several other research firms have also weighed in on RRR. Morgan Stanley set a $49.00 price objective on shares of Red Rock Resorts and gave the company an "equal weight" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. assumed coverage on shares of Red Rock Resorts in a research note on Monday, June 23rd. They set an "overweight" rating and a $62.00 price target for the company. Truist Financial upgraded shares of Red Rock Resorts from a "hold" rating to a "buy" rating and boosted their price target for the company from $45.00 to $67.00 in a research note on Wednesday, July 16th. Stifel Nicolaus decreased 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, May 2nd. Finally, Macquarie restated an "outperform" rating and set a $58.00 price target on shares of Red Rock Resorts in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Red Rock Resorts has a consensus rating of "Moderate Buy" and an average target price of $55.45.

Red Rock Resorts Price Performance

Shares of RRR traded down $0.39 during mid-day trading on Friday, reaching $54.49. The company had a trading volume of 454,150 shares, compared to its average volume of 626,603. The company's 50 day simple moving average is $50.75 and its 200 day simple moving average is $47.30. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.87 and a current ratio of 0.92. Red Rock Resorts has a 1-year low of $35.09 and a 1-year high of $61.08. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 3.58 and a beta of 1.62.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.47 by $0.33. Red Rock Resorts had a net margin of 8.01% and a return on equity of 56.45%. The business had revenue of $497.86 million for the quarter, compared to the consensus estimate of $499.12 million. During the same period last year, the company earned $0.68 EPS. The firm's revenue was up 1.8% compared to the same quarter last year. Analysts expect that Red Rock Resorts will post 1.76 EPS for the current year.

Institutional Trading of Red Rock Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRR. CANADA LIFE ASSURANCE Co raised its position in Red Rock Resorts by 3.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,662 shares of the company's stock worth $492,000 after buying an additional 314 shares during the last quarter. Mayfair Advisory Group LLC raised its position in Red Rock Resorts by 8.1% in the 1st quarter. Mayfair Advisory Group LLC now owns 4,861 shares of the company's stock worth $211,000 after buying an additional 364 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Red Rock Resorts by 3.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 15,651 shares of the company's stock worth $679,000 after buying an additional 456 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Red Rock Resorts by 47.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock worth $95,000 after buying an additional 664 shares during the last quarter. Finally, Truist Financial Corp raised its position in Red Rock Resorts by 2.7% in the 2nd quarter. Truist Financial Corp now owns 28,733 shares of the company's stock worth $1,495,000 after buying an additional 751 shares during the last quarter. Hedge funds and other institutional investors 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.