Red Rock Resorts (NASDAQ:RRR) Stock Rating Reaffirmed by JMP Securities

Red Rock Resorts (NASDAQ:RRR)‘s stock had its “market outperform” rating reiterated by analysts at JMP Securities in a research report issued on Monday, Benzinga reports. They currently have a $65.00 price objective on the stock. JMP Securities’ price objective indicates a potential upside of 24.74% from the company’s previous close.

RRR has been the topic of a number of other research reports. Truist Financial reduced their target price on Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Stifel Nicolaus boosted their price objective on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wells Fargo & Company cut shares of Red Rock Resorts from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $63.00 to $64.00 in a research report on Wednesday, July 24th. Finally, Barclays upped their price objective on shares of Red Rock Resorts from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Red Rock Resorts presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.50.

Red Rock Resorts Trading Down 1.2 %

Shares of NASDAQ RRR opened at $52.11 on Monday. Red Rock Resorts has a fifty-two week low of $37.82 and a fifty-two week high of $63.28. The firm has a market capitalization of $5.50 billion, a P/E ratio of 18.48, a P/E/G ratio of 5.39 and a beta of 2.04. 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 company’s 50 day simple moving average is $54.74 and its 200 day simple moving average is $54.82.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $486.40 million for the quarter, compared to the consensus estimate of $475.80 million. During the same quarter in the prior year, the business posted $0.65 EPS. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. On average, analysts predict that Red Rock Resorts will post 1.66 EPS for the current year.

Insider Buying and Selling at Red Rock Resorts

In related news, CEO Frank J. Fertitta III purchased 67,000 shares of Red Rock Resorts stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $49.77 per share, with a total value of $3,334,590.00. Following the completion of the transaction, the chief executive officer now owns 46,048,301 shares of the company’s stock, valued at approximately $2,291,823,940.77. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Lorenzo J. Fertitta acquired 33,000 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $49.77 per share, for a total transaction of $1,642,410.00. Following the purchase, the vice president now directly owns 47,546,301 shares of the company’s stock, valued at approximately $2,366,379,400.77. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank J. Fertitta III bought 67,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $49.77 per share, with a total value of $3,334,590.00. Following the completion of the purchase, the chief executive officer now directly owns 46,048,301 shares in the company, valued at $2,291,823,940.77. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 200,000 shares of company stock worth $10,426,000. Corporate insiders own 53.28% of the company’s stock.

Hedge Funds Weigh In On Red Rock Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd boosted its holdings in shares of 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 acquiring an additional 500 shares during the period. Headlands Technologies LLC bought a new stake in Red Rock Resorts in the 1st quarter valued at $78,000. Point72 DIFC Ltd acquired a new position in Red Rock Resorts in the 2nd quarter valued at $98,000. nVerses Capital LLC bought a new position in Red Rock Resorts during the 2nd quarter worth $154,000. Finally, Ritholtz Wealth Management acquired a new stake in shares of Red Rock Resorts during the third quarter worth $215,000. 47.84% of the stock is owned by institutional investors.

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.