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

Red Rock Resorts, Inc. (NASDAQ:RRR) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $62.58.

A number of research analysts have weighed in on RRR shares. 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 research report on Wednesday, July 24th. Macquarie boosted their price objective on Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wells Fargo & Company reduced their target price on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research note 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. Finally, JPMorgan Chase & Co. upped their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th.

Red Rock Resorts Stock Up 2.7 %

Shares of NASDAQ RRR opened at $52.60 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 15.15. Red Rock Resorts has a 12-month low of $37.82 and a 12-month high of $63.28. The firm’s 50-day moving average price is $54.29 and its 200-day moving average price is $54.33. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 5.42 and a beta of 2.04.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $475.80 million. During the same period last year, the company earned $0.65 EPS. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, equities research analysts anticipate that Red Rock Resorts will post 1.64 EPS for the current fiscal year.

Insider Transactions at Red Rock Resorts

In related news, VP Lorenzo J. Fertitta bought 33,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $49.77 per share, for a total transaction of $1,642,410.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Kord Nichols sold 49,464 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $58.00, for a total value of $2,868,912.00. Following the completion of the sale, the chief operating officer now owns 71,946 shares of the company’s stock, valued at $4,172,868. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lorenzo J. Fertitta bought 33,000 shares of Red Rock Resorts stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $49.77 per share, for a total transaction of $1,642,410.00. Following the completion of the transaction, the vice president now directly owns 47,546,301 shares in the company, valued at $2,366,379,400.77. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 200,000 shares of company stock valued at $10,426,000. Corporate insiders own 53.28% of the company’s stock.

Institutional Investors Weigh In On Red Rock Resorts

A number of large investors have recently modified their holdings of RRR. Covestor Ltd increased its position in shares of Red Rock Resorts by 16,666.7% in the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares during the period. Headlands Technologies LLC acquired a new position in Red Rock Resorts in the 1st quarter worth approximately $78,000. Point72 DIFC Ltd purchased a new position in Red Rock Resorts during the 2nd quarter worth approximately $98,000. nVerses Capital LLC acquired a new stake in Red Rock Resorts during the 2nd quarter valued at approximately $154,000. Finally, Ritholtz Wealth Management purchased a new stake in shares of Red Rock Resorts in the 3rd quarter valued at $215,000. Hedge funds and other 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.