Red Rock Resorts (NASDAQ:RRR) PT Lowered to $58.00 at Truist Financial

Red Rock Resorts (NASDAQ:RRR) had its price target cut by Truist Financial from $63.00 to $58.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts also recently issued reports on the company. Morgan Stanley increased their price target on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Barclays increased their target price on Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Stifel Nicolaus lifted their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Macquarie upped their price target on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, JMP Securities restated a “market outperform” rating and set a $65.00 price objective on shares of Red Rock Resorts in a report on Monday, October 14th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.58.

Red Rock Resorts Stock Performance

Shares of NASDAQ:RRR opened at $52.60 on Wednesday. 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 1-year low of $37.82 and a 1-year high of $63.28. The stock has a market capitalization of $5.55 billion, a P/E ratio of 18.26, a P/E/G ratio of 5.42 and a beta of 2.04. The business has a 50-day moving average price of $54.29 and a two-hundred day moving average price of $54.39.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. The firm had revenue of $486.40 million for the quarter, compared to analysts’ expectations of $475.80 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 83.84%. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the firm earned $0.65 earnings per share. Equities analysts predict that Red Rock Resorts will post 1.64 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Lorenzo J. Fertitta purchased 33,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased 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 in the company, valued at $2,366,379,400.77. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Red Rock Resorts news, VP Lorenzo J. Fertitta acquired 33,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased 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 represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kord Nichols sold 49,464 shares of Red Rock Resorts stock in a transaction that occurred 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 transaction, the chief operating officer now owns 71,946 shares of the company’s stock, valued at $4,172,868. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 200,000 shares of company stock worth $10,426,000. Insiders own 53.28% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RRR. Truist Financial Corp increased its position in Red Rock Resorts by 0.9% during the second quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock worth $1,513,000 after acquiring an additional 241 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Red Rock Resorts by 3.8% during the second quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company’s stock worth $442,000 after purchasing an additional 292 shares during the period. Arizona State Retirement System raised its position in shares of Red Rock Resorts by 3.3% in the second quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock valued at $774,000 after buying an additional 444 shares in the last quarter. WCG Wealth Advisors LLC boosted its stake in shares of Red Rock Resorts by 2.5% in the second quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock valued at $1,007,000 after buying an additional 450 shares during the period. Finally, Covestor Ltd grew its position in Red Rock Resorts by 16,666.7% during the first quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after buying an additional 500 shares in the last quarter. 47.84% of the stock is owned by institutional investors.

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.