Red Rock Resorts, Inc. (NASDAQ:RRR) Given Consensus Rating of “Moderate Buy” by Analysts

Red Rock Resorts, Inc. (NASDAQ:RRR) has received a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $62.58.

RRR has been the topic of a number of recent research reports. Morgan Stanley boosted their price objective on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Wells Fargo & Company dropped their target price on shares of 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. Stifel Nicolaus lifted their target price on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Truist Financial cut their price objective on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Susquehanna raised their target price on shares of Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a report on Wednesday, July 24th.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRR. Truist Financial Corp grew its holdings in Red Rock Resorts by 0.9% in the second quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock valued at $1,513,000 after purchasing an additional 241 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in Red Rock Resorts by 3.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company’s stock valued at $442,000 after acquiring an additional 292 shares during the last quarter. Arizona State Retirement System grew its stake in Red Rock Resorts by 3.3% in the 2nd quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock valued at $774,000 after acquiring an additional 444 shares during the last quarter. WCG Wealth Advisors LLC increased its holdings in Red Rock Resorts by 2.5% during the 2nd quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock valued at $1,007,000 after acquiring an additional 450 shares in the last quarter. Finally, Covestor Ltd raised its position 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 acquiring an additional 500 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Stock Up 2.7 %

Red Rock Resorts stock opened at $52.60 on Tuesday. 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 business has a 50 day simple moving average of $54.29 and a 200-day simple moving average of $54.33. The stock has a market capitalization of $5.55 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 5.42 and a beta of 2.04. 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 announced its earnings results on Tuesday, July 23rd. The company reported $0.59 EPS 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 business had revenue of $486.40 million during the quarter, compared to analysts’ expectations of $475.80 million. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The business’s revenue was up 16.9% compared to the same quarter last year. On average, analysts anticipate that Red Rock Resorts will post 1.64 EPS for the current fiscal year.

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.