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

Red Rock Resorts (NASDAQ:RRR) had its price objective dropped by equities research analysts at Stifel Nicolaus from $61.00 to $59.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 17.46% from the stock’s current price.

A number of other equities analysts also recently commented on RRR. JMP Securities lifted their target price on shares of Red Rock Resorts from $61.00 to $66.00 and gave the stock a “market outperform” rating in a research note on Friday, April 19th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of 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 boosted their price target on shares of Red Rock Resorts from $51.00 to $53.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Susquehanna boosted their price target on shares of Red Rock Resorts from $52.00 to $66.00 and gave the company a “positive” rating in a research note on Thursday, February 8th. Finally, Wells Fargo & Company boosted their price target on shares of Red Rock Resorts from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.83.

Red Rock Resorts Stock Performance

Shares of NASDAQ:RRR traded down $4.13 during midday trading on Wednesday, reaching $50.23. The company’s stock had a trading volume of 188,096 shares, compared to its average volume of 422,039. The firm has a market capitalization of $5.28 billion, a PE ratio of 17.23, a P/E/G ratio of 2.81 and a beta of 2.08. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 13.54. The stock has a fifty day moving average of $57.82 and a 200 day moving average of $52.51. Red Rock Resorts has a twelve month low of $37.82 and a twelve month high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, May 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.18. The business had revenue of $488.90 million for the quarter, compared to analyst estimates of $490.49 million. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 earnings per share. On average, equities analysts expect that Red Rock Resorts will post 1.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the company’s stock in a transaction that occurred 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 directly owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 53.28% of the stock is owned by insiders.

Institutional Trading of Red Rock Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of 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 acquiring an additional 1,663,839 shares in the last quarter. Bamco Inc. NY grew its holdings in shares of Red Rock Resorts by 10.8% in the 3rd quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock worth $404,135,000 after acquiring an additional 962,841 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in Red Rock Resorts during the fourth quarter worth $40,331,000. Capital World Investors purchased a new position in shares of Red Rock Resorts in the fourth quarter valued at $24,897,000. Finally, Eminence Capital LP increased its position in shares of 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 buying an additional 413,871 shares in the last quarter. 47.84% of the stock is owned by hedge funds and other 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.