Red Rock Resorts (NASDAQ:RRR) Price Target Raised to $60.00 at Truist Financial

Red Rock Resorts (NASDAQ:RRR) had its price target hoisted by Truist Financial from $58.00 to $60.00 in a research report released on Tuesday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

RRR has been the topic of a number of other research reports. JMP Securities raised their target price on shares of Red Rock Resorts from $61.00 to $66.00 and gave the stock a market outperform rating in a research note on Friday, April 19th. Wells Fargo & Company raised their target price on shares of Red Rock Resorts from $57.00 to $62.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Deutsche Bank Aktiengesellschaft raised their target price 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. Macquarie upgraded shares of Red Rock Resorts from a neutral rating to an outperform rating and lifted their price objective for the company from $51.00 to $58.00 in a research report on Wednesday, January 17th. Finally, Barclays lifted their price objective on shares of Red Rock Resorts from $62.00 to $64.00 and gave the company an overweight rating in a research report on Friday, April 19th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $61.67.

Red Rock Resorts Stock Performance

RRR opened at $58.93 on Tuesday. 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 cap of $6.20 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 2.95 and a beta of 2.06. The company’s 50 day moving average is $58.32 and its 200 day moving average is $51.55. Red Rock Resorts has a 12-month low of $37.82 and a 12-month high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.55. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The company had revenue of $462.71 million for the quarter, compared to analysts’ expectations of $440.75 million. During the same quarter last year, the business earned $1.00 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts predict that Red Rock Resorts will post 1.93 EPS for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Thursday, March 14th. Red Rock Resorts’s payout ratio is 33.90%.

Insider Activity at Red Rock Resorts

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the company’s 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 sale, the chief financial officer now owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 54.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Kestra Private Wealth Services LLC increased its position in Red Rock Resorts by 1.1% during the third quarter. Kestra Private Wealth Services LLC now owns 27,588 shares of the company’s stock valued at $1,131,000 after acquiring an additional 300 shares during the last quarter. Institute for Wealth Management LLC. increased its position in Red Rock Resorts by 4.2% during the fourth quarter. Institute for Wealth Management LLC. now owns 7,557 shares of the company’s stock valued at $403,000 after acquiring an additional 308 shares during the last quarter. Avior Wealth Management LLC increased its position in Red Rock Resorts by 4.3% during the fourth quarter. Avior Wealth Management LLC now owns 9,941 shares of the company’s stock valued at $530,000 after acquiring an additional 408 shares during the last quarter. Truist Financial Corp increased its position in Red Rock Resorts by 2.4% during the fourth quarter. Truist Financial Corp now owns 26,837 shares of the company’s stock valued at $1,431,000 after acquiring an additional 627 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Red Rock Resorts by 7.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,071 shares of the company’s stock valued at $644,000 after acquiring an additional 870 shares during the last quarter. Institutional investors own 47.84% of the company’s stock.

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.