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

Red Rock Resorts (NASDAQ:RRR) had its price objective decreased by equities researchers at Mizuho from $69.00 to $66.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Mizuho’s price objective would suggest a potential upside of 21.41% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Morgan Stanley upped their target price on shares of Red Rock Resorts from $51.00 to $53.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Truist Financial increased their target price on Red Rock Resorts from $58.00 to $60.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Barclays boosted their price target on Red Rock Resorts from $62.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft upped their price target 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. Finally, Bank of America lifted their price objective on shares of 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 analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Red Rock Resorts has an average rating of “Moderate Buy” and an average price target of $61.42.

Red Rock Resorts Stock Performance

RRR stock opened at $54.36 on Wednesday. The stock’s 50 day simple moving average is $57.82 and its 200 day simple moving average is $52.51. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 13.54. Red Rock Resorts has a 12-month low of $37.82 and a 12-month high of $63.28. The stock has a market capitalization of $5.72 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 2.81 and a beta of 2.08.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.50 by $0.18. The company had revenue of $488.90 million during the quarter, compared to the consensus estimate of $490.49 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. Red Rock Resorts’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.75 EPS. As a group, research analysts forecast that Red Rock Resorts will post 1.92 earnings per share for the current fiscal year.

Insider Transactions at Red Rock Resorts

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.74, for a total transaction of $434,204.80. Following the completion of the transaction, 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 is available at this hyperlink. Corporate insiders own 53.28% of the company’s stock.

Institutional Trading of Red Rock Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Red Rock Resorts by 46.4% in the third quarter. FMR LLC now owns 5,249,335 shares of the company’s stock valued at $215,223,000 after purchasing an additional 1,663,839 shares during the last quarter. Bamco Inc. NY boosted its stake in shares of Red Rock Resorts by 10.8% in the third quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock worth $404,135,000 after buying an additional 962,841 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Red Rock Resorts during the fourth quarter worth about $40,331,000. Capital World Investors purchased a new position in Red Rock Resorts during the fourth quarter valued at approximately $24,897,000. Finally, Eminence Capital LP lifted its holdings in Red Rock Resorts by 21.1% in the fourth quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock valued at $126,582,000 after acquiring an additional 413,871 shares during the period. 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.