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

Key Points

• Mizuho analysts increased their price target for Red Rock Resorts from $59.00 to $62.00, indicating a potential upside of approximately 0.65% from the previous close.
• Truist Financial upgraded Red Rock Resorts from a "hold" to a "buy" rating, setting a new price target of $67.00, while Barclays raised theirs to $65.00.
• The company reported $0.95 EPS for the last quarter, significantly exceeding analysts' expectations of $0.40 and representing an 8.2% increase in revenue year-over-year.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) had its price objective increased by stock analysts at Mizuho from $59.00 to $62.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Mizuho's price target suggests a potential upside of 0.65% from the company's previous close.

A number of other equities research analysts also recently weighed in on RRR. Truist Financial raised Red Rock Resorts from a "hold" rating to a "buy" rating and raised their price target for the stock from $45.00 to $67.00 in a research note on Wednesday, July 16th. Barclays upped their price objective on shares of Red Rock Resorts from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday. Stifel Nicolaus set a $60.00 price objective on Red Rock Resorts and gave the company a "hold" rating in a report on Wednesday. Macquarie reissued an "outperform" rating and issued a $58.00 price objective on shares of Red Rock Resorts in a research note on Friday, May 2nd. Finally, 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 price target on the stock. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.36.

Red Rock Resorts Stock Performance

NASDAQ:RRR traded up $1.59 during midday trading on Thursday, reaching $61.60. 1,295,978 shares of the company traded hands, compared to its average volume of 701,947. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 3.59 and a beta of 1.62. The company has a fifty day moving average price of $52.09 and a 200 day moving average price of $47.84. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.92 and a quick ratio of 0.87. Red Rock Resorts has a twelve month low of $35.09 and a twelve month high of $62.00.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.55. The business had revenue of $526.27 million for the quarter, compared to the consensus estimate of $485.44 million. Red Rock Resorts had a net margin of 8.89% and a return on equity of 59.56%. The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. On average, analysts expect that Red Rock Resorts will post 1.76 EPS for the current fiscal year.

Institutional Trading of Red Rock Resorts

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its position in shares of Red Rock Resorts by 654.7% in the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock valued at $41,000 after purchasing an additional 766 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Red Rock Resorts in the 2nd quarter valued at $42,000. Pandora Wealth Inc. bought a new position in Red Rock Resorts during the 1st quarter worth $43,000. US Bancorp DE lifted its holdings in shares of Red Rock Resorts by 1,664.4% during the first quarter. US Bancorp DE now owns 1,041 shares of the company's stock worth $45,000 after buying an additional 982 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Red Rock Resorts during the first quarter worth $89,000. 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.

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