Red Rock Resorts (NASDAQ:RRR – Get Free Report) had its price target dropped by stock analysts at Morgan Stanley from $61.00 to $59.00 in a report released on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 19.38% from the stock’s current price.
Several other equities research analysts have also recently issued reports on the company. UBS Group set a $75.00 price objective on Red Rock Resorts in a report on Thursday, July 2nd. Benchmark reissued a “buy” rating on shares of Red Rock Resorts in a report on Monday, August 31st. The Goldman Sachs Group restated a “buy” rating and issued a $65.00 target price on shares of Red Rock Resorts in a research report on Tuesday, October 13th. Truist Financial lifted their price target on Red Rock Resorts from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, Wall Street Zen upgraded Red Rock Resorts from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Red Rock Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $71.89.
View Our Latest Stock Analysis on RRR
Red Rock Resorts Price Performance
Shares of NASDAQ RRR traded up $0.14 during trading on Monday, hitting $49.42. The company had a trading volume of 144,165 shares, compared to its average volume of 851,364. The stock has a fifty day simple moving average of $54.98 and a two-hundred day simple moving average of $57.76. Red Rock Resorts has a fifty-two week low of $47.49 and a fifty-two week high of $68.99. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 4.04 and a beta of 1.40. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 12.33.
Red Rock Resorts (NASDAQ:RRR – Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.16. Red Rock Resorts had a net margin of 8.43% and a return on equity of 56.19%. The business had revenue of $510.26 million during the quarter, compared to analysts’ expectations of $500.08 million. During the same quarter in the previous year, the company earned $0.95 earnings per share. The company’s quarterly revenue was down 3.0% on a year-over-year basis. On average, research analysts expect that Red Rock Resorts will post 1.54 earnings per share for the current year.
Insiders Place Their Bets
In related news, President Scott Kreeger sold 31,159 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $61.78, for a total transaction of $1,925,003.02. Following the transaction, the president directly owned 203,881 shares in the company, valued at approximately $12,595,768.18. The trade was a 13.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 54.34% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of RRR. Fortitude Family Office LLC boosted its holdings in shares of Red Rock Resorts by 4,566.7% during the 3rd quarter. Fortitude Family Office LLC now owns 560 shares of the company’s stock worth $28,000 after purchasing an additional 548 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Red Rock Resorts by 64.0% in the third quarter. GAMMA Investing LLC now owns 1,058 shares of the company’s stock valued at $52,000 after purchasing an additional 413 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Red Rock Resorts by 252.9% in the third quarter. Farther Finance Advisors LLC now owns 900 shares of the company’s stock valued at $45,000 after purchasing an additional 645 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in Red Rock Resorts during the second quarter worth approximately $500,000. Finally, Tidal Investments LLC purchased a new position in Red Rock Resorts during the second quarter worth approximately $217,000. 47.84% of the stock is owned by hedge funds and other institutional investors.
About Red Rock Resorts
Red Rock Resorts, Inc is a gaming, entertainment and hospitality company based in Las Vegas, Nevada. Through its principal operating subsidiary, Station Casinos, the company owns and operates casino resorts and neighborhood casinos, primarily in the Las Vegas metropolitan area. Its properties offer casino gaming, hotel accommodations, restaurants, bars, entertainment venues, spas and meeting facilities.
The company’s portfolio includes Red Rock Casino Resort & Spa, Green Valley Ranch Resort Spa and Casino, Palace Station, Boulder Station, Santa Fe Station, Sunset Station and Durango Casino & Resort, along with casinos operating under the Wildfire brand.
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