Susquehanna Increases Red Rock Resorts (NASDAQ:RRR) Price Target to $65.00

Red Rock Resorts (NASDAQ:RRR - Get Free Report) had its target price increased by stock analysts at Susquehanna from $52.00 to $65.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "positive" rating on the stock. Susquehanna's price target would suggest a potential upside of 21.31% from the company's previous close.

A number of other analysts have also recently issued reports on RRR. JPMorgan Chase & Co. started coverage on Red Rock Resorts in a research report on Monday, June 23rd. They set an "overweight" rating and a $62.00 price objective for the company. Citigroup reissued an "outperform" rating on shares of Red Rock Resorts in a research report on Friday, July 18th. JMP Securities boosted their price objective on Red Rock Resorts from $55.00 to $57.00 and gave the stock a "market outperform" rating in a research report on Friday, July 18th. Macquarie reissued an "outperform" rating and set a $58.00 price objective on shares of Red Rock Resorts in a research report on Friday, May 2nd. Finally, Mizuho raised Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 price objective for the company in a research report on Monday, June 2nd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.64.

Red Rock Resorts Stock Down 2.0%

Shares of Red Rock Resorts stock traded down $1.08 during midday trading on Thursday, hitting $53.58. The company's stock had a trading volume of 127,949 shares, compared to its average volume of 688,312. The firm has a market capitalization of $5.68 billion, a P/E ratio of 20.78, a PEG ratio of 3.54 and a beta of 1.62. The stock has a 50-day simple moving average of $51.03 and a 200-day simple moving average of $47.41. 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 1-year low of $35.09 and a 1-year high of $58.83.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.47 by $0.33. The business had revenue of $497.86 million during the quarter, compared to analysts' expectations of $499.12 million. Red Rock Resorts had a return on equity of 56.45% and a net margin of 8.01%. Red Rock Resorts's revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. As a group, sell-side analysts expect that Red Rock Resorts will post 1.76 earnings per share for the current year.

Institutional Inflows and Outflows

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