Stifel Nicolaus Raises Red Rock Resorts (NASDAQ:RRR) Price Target to $60.00

Key Points

• Red Rock Resorts saw its target price increased from $44.00 to $60.00 by Stifel Nicolaus, indicating a potential upside of 9.07% from its recent closing price.
• Several other analysts have also raised their price targets, with Barclays setting a new target of $62.00 and Susquehanna moving their target to $65.00, suggesting a strong market interest in the stock.
• The company reported an earnings per share (EPS) of $0.95 for the last quarter, significantly exceeding analyst expectations, with a year-over-year revenue increase of 8.2%.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) had its target price increased by stock analysts at Stifel Nicolaus from $44.00 to $60.00 in a research note issued on Wednesday, Marketbeat.com reports. The firm currently has a "hold" rating on the stock. Stifel Nicolaus' price target would indicate a potential downside of 0.89% from the company's previous close.

A number of other analysts have also recently commented on the stock. Macquarie reissued an "outperform" rating and set a $58.00 target price on shares of Red Rock Resorts in a research note on Friday, May 2nd. Truist Financial raised shares of Red Rock Resorts from a "hold" rating to a "buy" rating and boosted their target price for the stock from $45.00 to $67.00 in a research note on Wednesday, July 16th. Mizuho raised shares of Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 target price for the company in a research note on Monday, June 2nd. Citigroup reissued an "outperform" rating on shares of Red Rock Resorts in a research note on Friday, July 18th. Finally, Susquehanna boosted their price target on shares of Red Rock Resorts from $52.00 to $65.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.36.

Red Rock Resorts Trading Down 1.3%

Red Rock Resorts stock traded down $0.81 during midday trading on Wednesday, reaching $60.54. The stock had a trading volume of 1,622,630 shares, compared to its average volume of 829,017. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 9.04. Red Rock Resorts has a 52-week low of $35.09 and a 52-week high of $62.00. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 3.64 and a beta of 1.66. The company has a fifty day moving average of $52.65 and a 200 day moving average of $48.07.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 8.89% and a return on equity of 59.56%. Red Rock Resorts's revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $0.59 earnings per share. On average, analysts anticipate that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Red Rock Resorts

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in Red Rock Resorts by 7,978.4% during the 1st quarter. GAMMA Investing LLC now owns 8,240 shares of the company's stock valued at $357,000 after acquiring an additional 8,138 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted 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 worth $69,494,000 after purchasing an additional 258,310 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Red Rock Resorts during the 1st quarter worth about $750,000. KBC Group NV boosted its stake in shares of Red Rock Resorts by 44.6% during the 1st quarter. KBC Group NV now owns 2,887 shares of the company's stock worth $125,000 after purchasing an additional 891 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Red Rock Resorts by 47.4% during the 4th quarter. Deutsche Bank AG now owns 41,788 shares of the company's stock worth $1,932,000 after purchasing an additional 13,441 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.