Red Rock Resorts (NASDAQ:RRR) Given New $66.00 Price Target at JMP Securities

Red Rock Resorts (NASDAQ:RRR) had its price objective increased by investment analysts at JMP Securities from $61.00 to $66.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ target price indicates a potential upside of 14.07% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft raised their price objective on Red Rock Resorts from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Morgan Stanley lifted their price target on Red Rock Resorts from $51.00 to $53.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Stifel Nicolaus boosted their price objective on Red Rock Resorts from $47.00 to $54.00 and gave the company a “hold” rating in a research report on Thursday, December 21st. Susquehanna boosted their price objective 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, Mizuho started coverage on Red Rock Resorts in a research report on Tuesday, March 26th. They issued a “buy” rating and a $69.00 price objective for the company. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Red Rock Resorts has an average rating of “Moderate Buy” and an average target price of $61.08.

Red Rock Resorts Trading Down 1.4 %

Red Rock Resorts stock opened at $57.86 on Friday. The stock has a 50-day moving average of $58.33 and a two-hundred day moving average of $51.02. The company has a debt-to-equity ratio of 13.54, a quick ratio of 0.76 and a current ratio of 0.81. Red Rock Resorts has a one year low of $37.82 and a one year high of $63.28. The stock has a market cap of $6.09 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 3.02 and a beta of 2.06.

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

Insider Buying and Selling at Red Rock Resorts

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

Hedge Funds Weigh In On Red Rock Resorts

Several large investors have recently modified their holdings of RRR. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Red Rock Resorts during the 1st quarter worth about $30,000. Lazard Asset Management LLC purchased a new position in shares of Red Rock Resorts in the 4th quarter valued at about $34,000. KBC Group NV purchased a new position in shares of Red Rock Resorts in the 4th quarter valued at about $56,000. Tower Research Capital LLC TRC increased its holdings in shares of Red Rock Resorts by 601.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,283 shares of the company’s stock valued at $57,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Red Rock Resorts in the 2nd quarter valued at about $92,000. Institutional investors and hedge funds 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.