Red Rock Resorts, Inc. (NASDAQ:RRR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Red Rock Resorts, Inc. (NASDAQ:RRR) has been given an average rating of “Moderate Buy” by the twelve brokerages that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $63.00.

RRR has been the subject of several analyst reports. JMP Securities reissued a “market outperform” rating and set a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Morgan Stanley lifted their target price on shares of Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Macquarie increased their price target on Red Rock Resorts from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Stifel Nicolaus lifted their price objective on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Finally, Truist Financial reduced their price objective on Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th.

Insider Activity at Red Rock Resorts

In other news, CEO Frank J. Fertitta III bought 67,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $54.49 per share, for a total transaction of $3,650,830.00. Following the purchase, the chief executive officer now owns 45,914,301 shares of the company’s stock, valued at approximately $2,501,870,261.49. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Kord Nichols sold 49,464 shares of the 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 completion of the sale, the chief operating officer now owns 71,946 shares of the company’s stock, valued at approximately $4,172,868. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frank J. Fertitta III bought 67,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $54.49 per share, with a total value of $3,650,830.00. Following the completion of the purchase, the chief executive officer now directly owns 45,914,301 shares of the company’s stock, valued at $2,501,870,261.49. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 200,000 shares of company stock worth $10,426,000. 53.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On Red Rock Resorts

Institutional investors have recently bought and sold shares of the business. Bamco Inc. NY grew its holdings in Red Rock Resorts by 0.5% in the 1st quarter. Bamco Inc. NY now owns 10,409,100 shares of the company’s stock valued at $622,672,000 after buying an additional 50,246 shares in the last quarter. Vanguard Group Inc. lifted its stake in Red Rock Resorts by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock valued at $307,292,000 after purchasing an additional 209,593 shares during the last quarter. Eminence Capital LP grew its position in Red Rock Resorts by 23.7% during the 2nd quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock worth $107,265,000 after acquiring an additional 374,128 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Red Rock Resorts by 26.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock worth $65,706,000 after buying an additional 251,855 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Red Rock Resorts by 6.6% in the second quarter. Bank of New York Mellon Corp now owns 404,153 shares of the company’s stock valued at $22,200,000 after purchasing an additional 24,992 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR opened at $52.08 on Tuesday. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 5.43 and a beta of 2.04. Red Rock Resorts has a one year low of $37.82 and a one year high of $63.28. The business has a fifty day simple moving average of $54.62 and a 200 day simple moving average of $54.63. 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 (NASDAQ:RRR) last posted its earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. The business 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 firm’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. Sell-side analysts expect that Red Rock Resorts will post 1.66 EPS for the current year.

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.