Red Rock Resorts (NASDAQ:RRR) Price Target Lowered to $66.00 at Mizuho

Red Rock Resorts (NASDAQ:RRR) had its price objective cut by equities researchers at Mizuho from $69.00 to $66.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Mizuho’s price target would indicate a potential upside of 21.41% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company increased their price objective on shares of Red Rock Resorts from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Macquarie raised shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and raised their price target for the company from $51.00 to $58.00 in a report on Wednesday, January 17th. Truist Financial upped their price objective on shares of Red Rock Resorts from $58.00 to $60.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Barclays lifted their target price 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. Finally, JMP Securities boosted their price target on 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. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.42.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $54.36 on Wednesday. The firm’s fifty day simple moving average is $57.82 and its 200 day simple moving average is $52.51. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 13.54. Red Rock Resorts has a twelve month low of $37.82 and a twelve month high of $63.28. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 2.81 and a beta of 2.08.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.18. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The company had revenue of $488.90 million for the quarter, compared to analysts’ expectations of $490.49 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities research analysts expect that Red Rock Resorts will post 1.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.74, for a total transaction 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 approximately $14,077,473.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 53.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new position in shares of Red Rock Resorts in the first quarter valued at $78,000. Virtu Financial LLC purchased a new stake in shares of Red Rock Resorts during the fourth quarter valued at $212,000. Core Wealth Partners LLC acquired a new position in shares of Red Rock Resorts in the 4th quarter valued at $213,000. SG Americas Securities LLC purchased a new position in Red Rock Resorts in the 1st quarter worth about $236,000. Finally, Malaga Cove Capital LLC acquired a new stake in Red Rock Resorts during the 3rd quarter worth about $242,000. 47.84% of the stock is currently owned by 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.