Red Rock Resorts, Inc. (NASDAQ:RRR) Receives Average Recommendation of "Moderate Buy" from Analysts

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twelve research firms that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $63.00.

A number of analysts have recently issued reports on RRR shares. Wells Fargo & Company reduced their price objective on shares of Red Rock Resorts from $64.00 to $58.00 and set an "equal weight" rating for the company in a research note on Thursday, October 17th. Stifel Nicolaus raised their target price on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company a "hold" rating in a report on Wednesday, July 24th. Macquarie upped their price target on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, July 24th. JMP Securities reissued a "market outperform" rating and issued a $65.00 price objective on shares of Red Rock Resorts in a research note on Monday, October 14th. Finally, Barclays boosted their target price on shares of Red Rock Resorts from $63.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, July 24th.

Insiders Place Their Bets

In other news, CEO Frank J. Fertitta III purchased 67,000 shares of the firm's stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $49.77 per share, with a total value of $3,334,590.00. Following the completion of the transaction, the chief executive officer now owns 46,048,301 shares in the company, valued at $2,291,823,940.77. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Lorenzo J. Fertitta bought 33,000 shares of the company's stock in a transaction on Thursday, August 1st. The shares were bought at an average price of $54.49 per share, with a total value of $1,798,170.00. Following the transaction, the vice president now owns 47,480,301 shares in the company, valued at approximately $2,587,201,601.49. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank J. Fertitta III purchased 67,000 shares of the firm's stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $49.77 per share, with a total value of $3,334,590.00. Following the acquisition, the chief executive officer now owns 46,048,301 shares of the company's stock, valued at approximately $2,291,823,940.77. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 200,000 shares of company stock worth $10,426,000 over the last 90 days. Company insiders own 53.28% of the company's stock.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently modified their holdings of the company. Truist Financial Corp raised its stake in shares of Red Rock Resorts by 0.9% during the 2nd quarter. Truist Financial Corp now owns 27,545 shares of the company's stock valued at $1,513,000 after buying an additional 241 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in Red Rock Resorts by 3.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company's stock valued at $442,000 after acquiring an additional 292 shares in the last quarter. Arizona State Retirement System lifted its stake in Red Rock Resorts by 3.3% in the 2nd quarter. Arizona State Retirement System now owns 14,086 shares of the company's stock worth $774,000 after purchasing an additional 444 shares in the last quarter. WCG Wealth Advisors LLC boosted its holdings in shares of Red Rock Resorts by 2.5% during the 2nd quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company's stock worth $1,007,000 after purchasing an additional 450 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Red Rock Resorts by 16,666.7% in the first quarter. Covestor Ltd now owns 503 shares of the company's stock valued at $30,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company's stock.

Red Rock Resorts Price Performance

RRR stock traded down $0.56 during trading on Tuesday, reaching $51.52. 366,345 shares of the company were exchanged, compared to its average volume of 461,053. The company has a 50-day moving average of $54.58 and a two-hundred day moving average of $54.57. The company has a debt-to-equity ratio of 15.15, a current ratio of 0.94 and a quick ratio of 0.89. Red Rock Resorts has a twelve month low of $37.82 and a twelve month high of $63.28. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 5.43 and a beta of 2.04.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released 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. Red Rock Resorts had a net margin of 9.21% and a return on equity of 83.84%. The firm had revenue of $486.40 million for the quarter, compared to analysts' expectations of $475.80 million. During the same period in the previous year, the company earned $0.65 earnings per share. The company's quarterly revenue was up 16.9% on a year-over-year basis. As a group, equities analysts predict that Red Rock Resorts will post 1.66 earnings per share for the current fiscal 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.