Red Rock Resorts (NASDAQ:RRR) Upgraded to "Buy" at Truist Financial

Red Rock Resorts (NASDAQ:RRR - Get Free Report) was upgraded by stock analysts at Truist Financial from a "hold" rating to a "buy" rating in a report released on Wednesday, MarketBeat.com reports. The firm currently has a $67.00 target price on the stock, up from their prior target price of $45.00. Truist Financial's target price indicates a potential upside of 22.08% from the stock's current price.

Several other brokerages have also recently issued reports on RRR. JPMorgan Chase & Co. initiated coverage on shares of Red Rock Resorts in a report on Monday, June 23rd. They set an "overweight" rating and a $62.00 target price on the stock. Macquarie reiterated an "outperform" rating and set a $58.00 target price on shares of Red Rock Resorts in a report on Friday, May 2nd. Stifel Nicolaus dropped their target price 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. Barclays dropped their target price on shares of Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Morgan Stanley set a $49.00 price target on shares of Red Rock Resorts and gave the company an "equal weight" rating in a research report on Friday, July 11th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $55.45.

Red Rock Resorts Trading Down 0.9%

Shares of NASDAQ RRR traded down $0.49 during mid-day trading on Wednesday, reaching $54.88. The company had a trading volume of 732,702 shares, compared to its average volume of 625,797. The business's 50-day moving average is $50.75 and its 200-day moving average is $47.27. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 9.04. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 3.62 and a beta of 1.62. Red Rock Resorts has a 52 week low of $35.09 and a 52 week high of $61.08.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.80 earnings per share (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 company had revenue of $497.86 million for the quarter, compared to analysts' expectations of $499.12 million. During the same period in the prior year, the business earned $0.68 EPS. The firm's quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts expect that Red Rock Resorts will post 1.76 earnings per share for the current year.

Hedge Funds Weigh In On Red Rock Resorts

Several hedge funds and other institutional investors have recently bought and sold shares of RRR. Sterling Capital Management LLC grew its stake in shares of Red Rock Resorts by 654.7% during the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock worth $41,000 after purchasing an additional 766 shares during the period. Pandora Wealth Inc. acquired a new stake in Red Rock Resorts during the 1st quarter worth $43,000. US Bancorp DE boosted its stake in 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 purchasing an additional 982 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Red Rock Resorts during the 1st quarter worth $89,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Red Rock Resorts by 47.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock worth $95,000 after acquiring an additional 664 shares during the period. Institutional investors and hedge funds 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.