Red Rock Resorts (NASDAQ:RRR) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Red Rock Resorts (NASDAQ:RRR) in a research note published on Tuesday morning, The Fly reports. The brokerage issued an overweight rating on the stock.

A number of other equities research analysts have also issued reports on RRR. Deutsche Bank Aktiengesellschaft increased their target price on Red Rock Resorts from $46.00 to $56.00 and gave the company a buy rating in a research note on Thursday, July 29th. TheStreet raised Red Rock Resorts from a d+ rating to a c rating in a report on Monday, August 23rd. Truist increased their price target on Red Rock Resorts from $54.00 to $60.00 and gave the company a buy rating in a report on Thursday, July 29th. KeyCorp increased their price target on Red Rock Resorts from $42.00 to $48.00 and gave the company an overweight rating in a report on Thursday, May 27th. Finally, Truist Securities increased their price target on Red Rock Resorts from $54.00 to $60.00 and gave the company a buy rating in a report on Thursday, July 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $39.64.

Shares of NASDAQ:RRR opened at $44.63 on Tuesday. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 38.81 and a beta of 2.57. Red Rock Resorts has a one year low of $15.81 and a one year high of $49.82. The company has a 50-day simple moving average of $42.42 and a 200-day simple moving average of $39.57. The company has a debt-to-equity ratio of 4.61, a quick ratio of 3.97 and a current ratio of 4.03.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Wednesday, July 28th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.32 by $0.80. The business had revenue of $428.16 million for the quarter, compared to analyst estimates of $370.83 million. Red Rock Resorts had a net margin of 6.45% and a return on equity of 41.53%. As a group, research analysts forecast that Red Rock Resorts will post 2.99 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA purchased a new stake in Red Rock Resorts during the second quarter valued at about $118,020,000. Invesco Ltd. raised its position in Red Rock Resorts by 367.7% during the second quarter. Invesco Ltd. now owns 1,021,648 shares of the company’s stock valued at $43,420,000 after acquiring an additional 803,206 shares in the last quarter. Eminence Capital LP lifted its stake in Red Rock Resorts by 11.3% in the first quarter. Eminence Capital LP now owns 6,423,759 shares of the company’s stock valued at $209,350,000 after acquiring an additional 653,730 shares during the last quarter. Balyasny Asset Management LLC acquired a new position in shares of Red Rock Resorts during the 2nd quarter worth $19,799,000. Finally, Intrinsic Edge Capital Management LLC bought a new position in shares of Red Rock Resorts during the 1st quarter valued at $12,799,000. 54.74% of the stock is owned by institutional investors.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc is a holding company, which engages in the management and development of gaming and entertainment facilities. The firm operates through the following segments: Las Vegas Operations and Native American Management. Its amenities include restaurants, entertainment venues, movie theatres, bowling and convention or banquet space, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering.

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Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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