Red Rock Resorts (NASDAQ:RRR) Price Target Raised to $38.00 at KeyCorp


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Red Rock Resorts (NASDAQ:RRR) had its price objective boosted by equities research analysts at KeyCorp from $32.00 to $38.00 in a note issued to investors on Thursday, The Fly reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 10.08% from the stock’s previous close.

A number of other equities analysts have also issued reports on RRR. Macquarie raised their price target on Red Rock Resorts from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, February 10th. The Goldman Sachs Group upped their price target on Red Rock Resorts from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, January 26th. Zacks Investment Research lowered shares of Red Rock Resorts from a “hold” rating to a “sell” rating and set a $31.00 price objective on the stock. in a research report on Wednesday, February 17th. JPMorgan Chase & Co. upped their price objective on shares of Red Rock Resorts from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Red Rock Resorts from $24.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, December 9th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Red Rock Resorts has an average rating of “Buy” and a consensus target price of $24.77.

RRR stock opened at $34.52 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.08 and a debt-to-equity ratio of 5.40. The company has a market capitalization of $4.05 billion, a P/E ratio of -13.38 and a beta of 2.55. The business has a 50 day simple moving average of $32.32 and a 200-day simple moving average of $24.87. Red Rock Resorts has a twelve month low of $7.51 and a twelve month high of $35.94.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Monday, February 8th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.24 by $0.15. Red Rock Resorts had a negative net margin of 13.48% and a negative return on equity of 2.52%. The firm had revenue of $343.41 million during the quarter, compared to the consensus estimate of $342.17 million. During the same quarter in the prior year, the firm earned $0.05 EPS. Red Rock Resorts’s revenue for the quarter was down 25.5% on a year-over-year basis. Research analysts predict that Red Rock Resorts will post -0.03 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Alpha DNA Investment Management LLC purchased a new position in Red Rock Resorts in the 4th quarter valued at approximately $574,000. Dimensional Fund Advisors LP grew its holdings in Red Rock Resorts by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 643,904 shares of the company’s stock valued at $16,123,000 after purchasing an additional 32,279 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of Red Rock Resorts in the fourth quarter valued at $2,504,000. Norges Bank acquired a new position in shares of Red Rock Resorts during the 4th quarter worth $19,019,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Red Rock Resorts by 54.0% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 355,239 shares of the company’s stock worth $8,895,000 after buying an additional 124,639 shares in the last quarter. 52.40% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Company Profile

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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Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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