Red Rock Resorts (NASDAQ:RRR) Price Target Raised to $60.00 at Truist Financial

Red Rock Resorts (NASDAQ:RRR) had its price target boosted by research analysts at Truist Financial from $58.00 to $60.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential upside of 1.57% from the company’s previous close.

RRR has been the subject of a number of other reports. Mizuho began coverage on Red Rock Resorts in a research note on Tuesday, March 26th. They set a “buy” rating and a $69.00 price target for the company. Macquarie raised Red Rock Resorts from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $51.00 to $58.00 in a research note on Wednesday, January 17th. Barclays raised their price target on Red Rock Resorts from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday. Susquehanna lifted their target price on Red Rock Resorts from $52.00 to $66.00 and gave the company a “positive” rating in a research report on Thursday, February 8th. Finally, Bank of America lifted their target price on Red Rock Resorts from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.67.

Red Rock Resorts Trading Up 1.2 %

Shares of Red Rock Resorts stock traded up $0.71 on Tuesday, reaching $59.07. The company had a trading volume of 80,670 shares, compared to its average volume of 404,045. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 2.95 and a beta of 2.06. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76. The firm’s 50-day moving average price is $58.28 and its two-hundred day moving average price is $51.42. Red Rock Resorts has a 1 year low of $37.82 and a 1 year high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.55. The firm had revenue of $462.71 million during the quarter, compared to analysts’ expectations of $440.75 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. As a group, research analysts predict that Red Rock Resorts will post 1.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.74, for a total transaction of $434,204.80. Following the sale, the chief financial officer now owns 243,808 shares in the company, valued at approximately $14,077,473.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 54.20% of the stock is owned by company insiders.

Institutional Trading of Red Rock Resorts

Several large investors have recently added to or reduced their stakes in RRR. Kestra Private Wealth Services LLC lifted its holdings in shares of Red Rock Resorts by 1.1% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 27,588 shares of the company’s stock valued at $1,131,000 after buying an additional 300 shares during the period. Institute for Wealth Management LLC. lifted its holdings in shares of Red Rock Resorts by 4.2% in the 4th quarter. Institute for Wealth Management LLC. now owns 7,557 shares of the company’s stock valued at $403,000 after buying an additional 308 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of Red Rock Resorts by 4.3% in the 4th quarter. Avior Wealth Management LLC now owns 9,941 shares of the company’s stock valued at $530,000 after buying an additional 408 shares during the period. Truist Financial Corp lifted its holdings in shares of Red Rock Resorts by 2.4% in the 4th quarter. Truist Financial Corp now owns 26,837 shares of the company’s stock valued at $1,431,000 after buying an additional 627 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Red Rock Resorts by 7.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,071 shares of the company’s stock valued at $644,000 after buying an additional 870 shares during the period. Hedge funds and other institutional investors own 47.84% of the company’s stock.

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.