Red Rock Resorts (NASDAQ:RRR) Price Target Lowered to $65.00 at JMP Securities

Red Rock Resorts (NASDAQ:RRR) had its price target reduced by JMP Securities from $66.00 to $65.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a market outperform rating on the stock.

A number of other research analysts have also recently commented on the company. Stifel Nicolaus cut their target price on Red Rock Resorts from $61.00 to $59.00 and set a hold rating on the stock in a research note on Wednesday. Susquehanna increased their price target on Red Rock Resorts from $52.00 to $66.00 and gave the stock a positive rating in a research report on Thursday, February 8th. Truist Financial raised their price target on shares of Red Rock Resorts from $58.00 to $60.00 and gave the company a hold rating in a research note on Tuesday, April 23rd. Macquarie upgraded shares of Red Rock Resorts from a neutral rating to an outperform rating and raised their price target for the stock from $51.00 to $58.00 in a report on Wednesday, January 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock a buy rating in a research note on Wednesday, January 24th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $61.75.

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR traded up $0.43 during mid-day trading on Wednesday, hitting $50.65. The company had a trading volume of 47,863 shares, compared to its average volume of 439,120. Red Rock Resorts has a 1 year low of $37.82 and a 1 year high of $63.28. The stock’s 50-day moving average price is $57.69 and its 200-day moving average price is $52.50. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 13.54. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 2.81 and a beta of 2.08.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, May 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.18. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The firm had revenue of $488.90 million during the quarter, compared to analyst estimates of $490.49 million. During the same quarter in the prior year, the company earned $0.75 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts forecast that Red Rock Resorts will post 1.92 earnings per share for the current year.

Insiders Place Their Bets

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of Red Rock Resorts stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.74, for a total transaction of $434,204.80. Following the completion of the transaction, the chief financial officer now directly owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 53.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC grew its holdings in shares of Red Rock Resorts by 8.5% during the first quarter. ProShare Advisors LLC now owns 8,559 shares of the company’s stock worth $512,000 after purchasing an additional 674 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Red Rock Resorts in the 1st quarter valued at $78,000. Lisanti Capital Growth LLC purchased a new stake in Red Rock Resorts in the 1st quarter valued at $2,260,000. SG Americas Securities LLC purchased a new stake in shares of Red Rock Resorts during the 1st quarter valued at $236,000. Finally, FORA Capital LLC increased its position in shares of Red Rock Resorts by 16.1% during the 1st quarter. FORA Capital LLC now owns 10,784 shares of the company’s stock valued at $645,000 after purchasing an additional 1,492 shares during the last quarter. 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.