Red Rock Resorts (NASDAQ:RRR) Given New $66.00 Price Target at JMP Securities

Red Rock Resorts (NASDAQ:RRR) had its price objective increased by analysts at JMP Securities from $61.00 to $66.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 14.07% from the company’s previous close.

Several other research analysts have also recently issued reports on RRR. Deutsche Bank Aktiengesellschaft raised their target price on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Stifel Nicolaus lifted their price target on shares of Red Rock Resorts from $47.00 to $54.00 and gave the company a “hold” rating in a report on Thursday, December 21st. Bank of America lifted their price target on shares of Red Rock Resorts from $52.00 to $57.00 and gave the company a “buy” rating in a report on Monday, April 8th. Barclays lifted their price target on shares of Red Rock Resorts from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Red Rock Resorts from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.08.

Red Rock Resorts Stock Down 1.4 %

Shares of Red Rock Resorts stock opened at $57.86 on Friday. The company has a debt-to-equity ratio of 13.54, a quick ratio of 0.76 and a current ratio of 0.81. Red Rock Resorts has a 52-week low of $37.82 and a 52-week high of $63.28. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 3.02 and a beta of 2.06. The company’s 50 day moving average price is $58.33 and its 200-day moving average price is $51.02.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Wednesday, February 7th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.55. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The firm had revenue of $462.71 million for the quarter, compared to analysts’ expectations of $440.75 million. During the same quarter last year, the business earned $1.00 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. Equities research analysts forecast that Red Rock Resorts will post 1.93 EPS for the current year.

Insider Transactions at Red Rock Resorts

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of Red Rock Resorts stock in a transaction dated 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 of the company’s stock, valued at approximately $14,077,473.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 54.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Red Rock Resorts

A number of hedge funds have recently bought and sold shares of the business. Bamco Inc. NY raised its position in 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 buying an additional 962,841 shares during the last quarter. FMR LLC raised its position in Red Rock Resorts by 46.4% in the 3rd quarter. FMR LLC now owns 5,249,335 shares of the company’s stock worth $215,223,000 after buying an additional 1,663,839 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in Red Rock Resorts by 1.9% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,827,336 shares of the company’s stock worth $197,921,000 after buying an additional 91,798 shares during the last quarter. Eminence Capital LP raised its position in Red Rock Resorts by 21.1% in the 4th quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock worth $126,582,000 after buying an additional 413,871 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Red Rock Resorts by 2.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,493,068 shares of the company’s stock worth $49,809,000 after buying an additional 28,665 shares during the last quarter. Hedge funds and other 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.