Susquehanna Forecasts Strong Price Appreciation for Red Rock Resorts (NASDAQ:RRR) Stock

Red Rock Resorts (NASDAQ:RRR - Get Free Report) had its target price hoisted by equities researchers at Susquehanna from $52.00 to $65.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "positive" rating on the stock. Susquehanna's price target suggests a potential upside of 18.79% from the stock's current price.

RRR has been the subject of a number of other reports. Macquarie reiterated an "outperform" rating and issued a $58.00 price objective on shares of Red Rock Resorts in a research note on Friday, May 2nd. Mizuho upgraded shares of Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 price target for the company in a research report on Monday, June 2nd. Stifel Nicolaus reduced 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 report on Friday, May 2nd. Morgan Stanley boosted their price target on shares of Red Rock Resorts from $47.00 to $49.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Finally, JMP Securities boosted their price target on shares of Red Rock Resorts from $55.00 to $57.00 and gave the company a "market outperform" rating in a research report on Friday, July 18th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $56.64.

Red Rock Resorts Stock Performance

Red Rock Resorts stock traded up $0.52 during mid-day trading on Thursday, reaching $54.72. The company's stock had a trading volume of 426,942 shares, compared to its average volume of 688,409. Red Rock Resorts has a 12-month low of $35.09 and a 12-month high of $58.83. The company has a market capitalization of $5.80 billion, a P/E ratio of 21.21, a PEG ratio of 3.54 and a beta of 1.62. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.87 and a current ratio of 0.92. The firm's fifty day moving average price is $51.44 and its two-hundred day moving average price is $47.63.

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

Institutional Trading of Red Rock Resorts

Several hedge funds have recently added to or reduced their stakes in RRR. Long Pond Capital LP lifted its stake in Red Rock Resorts by 142.5% in the fourth quarter. Long Pond Capital LP now owns 1,474,153 shares of the company's stock worth $68,165,000 after purchasing an additional 866,320 shares during the last quarter. Bamco Inc. NY lifted its stake in Red Rock Resorts by 6.9% in the fourth quarter. Bamco Inc. NY now owns 11,356,201 shares of the company's stock worth $525,111,000 after purchasing an additional 732,917 shares during the last quarter. Eminence Capital LP lifted its stake in Red Rock Resorts by 36.1% in the fourth quarter. Eminence Capital LP now owns 2,056,588 shares of the company's stock worth $95,097,000 after purchasing an additional 546,047 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Red Rock Resorts by 167.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company's stock worth $19,534,000 after purchasing an additional 264,609 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Red Rock Resorts by 19.2% in the first 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. 47.84% of the stock is owned by institutional investors.

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.