Red Rock Resorts (NASDAQ:RRR) Price Target Lowered to $59.00 at Stifel Nicolaus

Red Rock Resorts (NASDAQ:RRR) had its price target reduced by Stifel Nicolaus from $61.00 to $59.00 in a research note issued to investors on Wednesday, May 8th, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 14.65% from the company’s current price.

Other research analysts have also issued research reports about the company. Mizuho lowered their price objective on Red Rock Resorts from $69.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Red Rock Resorts from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Barclays raised their price objective on Red Rock Resorts from $62.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. JPMorgan Chase & Co. increased their price target on shares of Red Rock Resorts from $63.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, Macquarie upgraded Red Rock Resorts from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $51.00 to $58.00 in a research note on Wednesday, January 17th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.58.

Red Rock Resorts Stock Performance

NASDAQ:RRR traded up $0.14 during mid-day trading on Wednesday, hitting $51.46. The stock had a trading volume of 22,637 shares, compared to its average volume of 440,890. Red Rock Resorts has a 52 week low of $37.82 and a 52 week high of $63.28. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 18.49. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 2.45 and a beta of 2.08. The company has a 50 day simple moving average of $56.78 and a 200-day simple moving average of $53.13.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.18. Red Rock Resorts had a net margin of 9.79% and a return on equity of 98.44%. The business had revenue of $488.90 million for the quarter, compared to analyst estimates of $490.49 million. During the same quarter last year, the business earned $0.75 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, research analysts expect that Red Rock Resorts will post 1.83 earnings per share for the current fiscal year.

Insider Transactions at Red Rock Resorts

In other Red Rock Resorts news, Vice President Lorenzo J. Fertitta purchased 800,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $50.39 per share, for a total transaction of $40,312,000.00. Following the completion of the purchase, the insider now owns 47,447,301 shares of the company’s stock, valued at approximately $2,390,869,497.39. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Vice President Lorenzo J. Fertitta acquired 800,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was purchased at an average cost of $50.39 per share, with a total value of $40,312,000.00. Following the acquisition, the insider now directly owns 47,447,301 shares of the company’s stock, valued at $2,390,869,497.39. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’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 transaction, the chief financial officer now owns 243,808 shares in the company, valued at approximately $14,077,473.92. The disclosure for this sale can be found here. 53.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd lifted its stake in shares of Red Rock Resorts by 16,666.7% in the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares during the last quarter. Headlands Technologies LLC bought a new position in Red Rock Resorts in the first quarter valued at about $78,000. SG Americas Securities LLC acquired a new stake in shares of Red Rock Resorts during the first quarter valued at about $236,000. Virtu Financial LLC bought a new stake in shares of Red Rock Resorts during the fourth quarter worth about $212,000. Finally, Core Wealth Partners LLC acquired a new position in shares of Red Rock Resorts in the fourth quarter valued at approximately $213,000. 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.