Brokerages Set Red Rock Resorts, Inc. (NASDAQ:RRR) Price Target at $63.00

Red Rock Resorts, Inc. (NASDAQ:RRR) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $62.58.

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Susquehanna lifted their price objective on shares of Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. JMP Securities restated a “market outperform” rating and set a $65.00 target price on shares of Red Rock Resorts in a research note on Monday, October 14th. Macquarie lifted their price target on Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus upped their price objective on Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th.

Insider Activity

In other Red Rock Resorts news, VP Lorenzo J. Fertitta bought 33,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average cost of $54.49 per share, for a total transaction of $1,798,170.00. Following the transaction, the vice president now directly owns 47,480,301 shares in the company, valued at approximately $2,587,201,601.49. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Lorenzo J. Fertitta bought 33,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average cost of $54.49 per share, with a total value of $1,798,170.00. Following the transaction, the vice president now directly owns 47,480,301 shares in the company, valued at approximately $2,587,201,601.49. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank J. Fertitta III purchased 67,000 shares of Red Rock Resorts stock in a transaction on Thursday, August 1st. The stock was bought at an average price of $54.49 per share, for a total transaction of $3,650,830.00. Following the transaction, the chief executive officer now directly owns 45,914,301 shares in the company, valued at approximately $2,501,870,261.49. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 200,000 shares of company stock valued at $10,426,000 over the last quarter. 53.28% of the stock is owned by company insiders.

Institutional Trading of Red Rock Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRR. Covestor Ltd grew its holdings in Red Rock Resorts by 16,666.7% during the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the period. Headlands Technologies LLC bought a new stake in shares of Red Rock Resorts during the 1st quarter valued at about $78,000. Point72 DIFC Ltd acquired a new stake in Red Rock Resorts during the second quarter worth approximately $98,000. nVerses Capital LLC bought a new stake in Red Rock Resorts in the second quarter worth approximately $154,000. Finally, Mayfair Advisory Group LLC acquired a new position in Red Rock Resorts in the third quarter valued at approximately $218,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

RRR opened at $51.22 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 15.15. Red Rock Resorts has a 12-month low of $37.82 and a 12-month high of $63.28. The business has a 50 day moving average of $54.35 and a 200-day moving average of $54.45. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 5.42 and a beta of 2.04.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The business had revenue of $486.40 million during the quarter, compared to the consensus estimate of $475.80 million. During the same quarter last year, the firm posted $0.65 EPS. The company’s quarterly revenue was up 16.9% on a year-over-year basis. On average, equities research analysts expect that Red Rock Resorts will post 1.64 earnings per share for the current year.

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.