Red Rock Resorts (NASDAQ:RRR) Given New $58.00 Price Target at Truist Financial

Red Rock Resorts (NASDAQ:RRR) had its price target lowered by Truist Financial from $63.00 to $58.00 in a report released on Wednesday, Benzinga reports. The firm currently has a hold rating on the stock.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. JMP Securities reissued 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. Barclays lifted their target price on Red Rock Resorts from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Susquehanna increased their price target on Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley boosted their price objective on shares of Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Red Rock Resorts currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.58.

Red Rock Resorts Trading Up 2.7 %

Shares of Red Rock Resorts stock opened at $52.60 on Wednesday. Red Rock Resorts has a 1-year low of $37.82 and a 1-year high of $63.28. The company has a debt-to-equity ratio of 15.15, a current ratio of 0.94 and a quick ratio of 0.89. The stock has a market cap of $5.55 billion, a P/E ratio of 18.26, a P/E/G ratio of 5.42 and a beta of 2.04. The stock’s 50 day simple moving average is $54.29 and its 200-day simple moving average is $54.33.

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

Insider Transactions at Red Rock Resorts

In related news, CEO Frank J. Fertitta III bought 67,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $54.49 per share, for a total transaction of $3,650,830.00. Following the completion of the acquisition, the chief executive officer now owns 45,914,301 shares in the company, valued at approximately $2,501,870,261.49. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Frank J. Fertitta III purchased 67,000 shares of the firm’s stock in a transaction that occurred 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 completion of the purchase, the chief executive officer now directly owns 45,914,301 shares of the company’s stock, valued at $2,501,870,261.49. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Kord Nichols sold 49,464 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the completion of the sale, the chief operating officer now owns 71,946 shares in the company, valued at $4,172,868. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 200,000 shares of company stock valued at $10,426,000. 53.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RRR. Covestor Ltd lifted its stake in Red Rock Resorts by 16,666.7% during the first quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Red Rock Resorts in the 1st quarter valued at $78,000. Point72 DIFC Ltd purchased a new position in shares of Red Rock Resorts in the 2nd quarter valued at $98,000. nVerses Capital LLC acquired a new stake in Red Rock Resorts during the 2nd quarter worth $154,000. Finally, Ritholtz Wealth Management purchased a new stake in Red Rock Resorts in the third quarter valued at $215,000. 47.84% of the stock is owned by institutional investors and hedge funds.

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.