Red Rock Resorts (NASDAQ:RRR) had its price objective lifted by Goldman Sachs Group from $15.00 to $20.00 in a research report sent to investors on Monday morning, The Fly reports. Goldman Sachs Group currently has a buy rating on the stock.
Several other brokerages have also weighed in on RRR. Nomura cut their target price on Red Rock Resorts from $30.00 to $14.00 in a research report on Wednesday, May 20th. Deutsche Bank raised their price target on Red Rock Resorts from $14.00 to $15.00 and gave the stock a buy rating in a research note on Wednesday, August 5th. Truist raised their price target on Red Rock Resorts from $14.00 to $21.00 in a research note on Wednesday, September 2nd. Zacks Investment Research downgraded Red Rock Resorts from a hold rating to a sell rating and set a $12.00 price target on the stock. in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. dropped their price target on Red Rock Resorts from $30.00 to $13.00 and set an overweight rating on the stock in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Red Rock Resorts has a consensus rating of Buy and an average target price of $17.09.
Shares of NASDAQ RRR opened at $17.96 on Monday. The company has a debt-to-equity ratio of 6.82, a quick ratio of 1.96 and a current ratio of 2.04. Red Rock Resorts has a fifty-two week low of $2.76 and a fifty-two week high of $27.91. The firm has a market capitalization of $2.11 billion, a PE ratio of -5.35 and a beta of 2.81. The stock’s 50-day simple moving average is $15.75 and its 200-day simple moving average is $12.45.
Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, August 4th. The company reported ($1.01) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.03. Red Rock Resorts had a negative return on equity of 7.41% and a negative net margin of 16.61%. The business had revenue of $108.50 million for the quarter, compared to analyst estimates of $73.63 million. During the same quarter last year, the company earned ($0.06) EPS. The business’s quarterly revenue was down 77.5% on a year-over-year basis. On average, sell-side analysts forecast that Red Rock Resorts will post -0.59 earnings per share for the current fiscal year.
In other Red Rock Resorts news, CEO Frank J. Fertitta III purchased 325,000 shares of Red Rock Resorts stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $14.63 per share, with a total value of $4,754,750.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lorenzo J. Fertitta purchased 229,000 shares of Red Rock Resorts stock in a transaction dated Thursday, August 6th. The stock was acquired at an average cost of $13.26 per share, with a total value of $3,036,540.00. The disclosure for this purchase can be found here. Insiders bought a total of 1,235,200 shares of company stock valued at $18,730,748 over the last three months. Insiders own 43.75% of the company’s stock.
A number of hedge funds have recently modified their holdings of RRR. Captrust Financial Advisors acquired a new position in Red Rock Resorts during the second quarter worth $27,000. Tower Research Capital LLC TRC raised its holdings in Red Rock Resorts by 93.7% during the first quarter. Tower Research Capital LLC TRC now owns 3,115 shares of the company’s stock worth $27,000 after purchasing an additional 1,507 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Red Rock Resorts by 906.0% during the second quarter. Nisa Investment Advisors LLC now owns 3,209 shares of the company’s stock worth $35,000 after purchasing an additional 2,890 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Red Rock Resorts by 220.3% during the second quarter. PNC Financial Services Group Inc. now owns 4,472 shares of the company’s stock worth $50,000 after purchasing an additional 3,076 shares during the last quarter. Finally, Atlas Private Wealth Management acquired a new position in Red Rock Resorts during the second quarter worth $65,000. 50.82% of the stock is owned by hedge funds and other institutional investors.
About Red Rock Resorts
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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