Red Rock Resorts (NASDAQ:RRR) Upgraded by Truist Financial to Buy Rating

Red Rock Resorts (NASDAQ:RRR - Get Free Report) was upgraded by research analysts at Truist Financial from a "hold" rating to a "buy" rating in a research note issued on Wednesday, MarketBeat reports. The firm presently has a $67.00 target price on the stock, up from their prior target price of $45.00. Truist Financial's target price would suggest a potential upside of 20.81% from the company's previous close.

A number of other equities research analysts have also weighed in on the stock. Mizuho upgraded shares of Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 price objective on the stock in a report on Monday, June 2nd. Susquehanna cut their price target on Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating on the stock in a research note on Wednesday, April 16th. Stifel Nicolaus decreased their price target on Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating for the company in a report on Friday, May 2nd. Macquarie reiterated an "outperform" rating and issued a $58.00 price objective on shares of Red Rock Resorts in a report on Friday, May 2nd. Finally, Barclays decreased their target price on Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Red Rock Resorts currently has a consensus rating of "Moderate Buy" and an average price target of $54.55.

Red Rock Resorts Stock Down 0.3%

RRR traded down $0.18 on Wednesday, hitting $55.46. 393,152 shares of the company were exchanged, compared to its average volume of 622,312. 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 company has a market cap of $5.88 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 5.75 and a beta of 1.62. The firm has a 50-day moving average price of $50.32 and a two-hundred day moving average price of $47.15. Red Rock Resorts has a twelve month low of $35.09 and a twelve month high of $61.39.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $497.86 million for the quarter, compared to analyst estimates of $499.12 million. During the same period in the prior year, the firm earned $0.68 earnings per share. The business's quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities analysts predict that Red Rock Resorts will post 1.76 earnings per share for the current year.

Hedge Funds Weigh In On Red Rock Resorts

Large investors have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co raised its position in Red Rock Resorts by 3.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 10,662 shares of the company's stock worth $492,000 after acquiring an additional 314 shares in the last quarter. Mayfair Advisory Group LLC grew its stake in shares of Red Rock Resorts by 8.1% during the 1st quarter. Mayfair Advisory Group LLC now owns 4,861 shares of the company's stock worth $211,000 after purchasing an additional 364 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Red Rock Resorts by 3.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 15,651 shares of the company's stock valued at $679,000 after purchasing an additional 456 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of 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 valued at $95,000 after purchasing an additional 664 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its stake 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 period. 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.