JMP Securities Increases Red Rock Resorts (NASDAQ:RRR) Price Target to $66.00

Red Rock Resorts (NASDAQ:RRR) had its price objective lifted by investment analysts at JMP Securities from $61.00 to $66.00 in a report issued on Friday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective points to a potential upside of 15.00% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus boosted their target price 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. Mizuho assumed coverage on shares of Red Rock Resorts in a report on Tuesday, March 26th. They set a “buy” rating and a $69.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Red Rock Resorts from $54.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Wells Fargo & Company boosted their price target 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Red Rock Resorts from $63.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Red Rock Resorts has an average rating of “Moderate Buy” and an average target price of $61.25.

Red Rock Resorts Trading Down 0.8 %

NASDAQ:RRR opened at $57.39 on Friday. The firm’s 50 day moving average is $58.30 and its 200 day moving average is $51.21. 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 12 month low of $37.82 and a 12 month high of $63.28. The stock has a market capitalization of $6.04 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 2.98 and a beta of 2.06.

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, beating analysts’ consensus estimates 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 business had revenue of $462.71 million for the quarter, compared to analysts’ expectations of $440.75 million. During the same quarter in the previous year, the firm posted $1.00 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Sell-side analysts expect that Red Rock Resorts will post 1.93 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were 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 directly owns 243,808 shares in the company, valued at $14,077,473.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 54.20% of the stock is owned by company insiders.

Institutional Trading of Red Rock Resorts

Institutional investors have recently added to or reduced their stakes in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Red Rock Resorts during the first quarter valued at about $30,000. Lazard Asset Management LLC purchased a new stake in Red Rock Resorts during the fourth quarter valued at about $34,000. KBC Group NV purchased a new stake in Red Rock Resorts during the fourth quarter valued at about $56,000. Tower Research Capital LLC TRC boosted its position in Red Rock Resorts by 601.1% during the first quarter. Tower Research Capital LLC TRC now owns 1,283 shares of the company’s stock valued at $57,000 after buying an additional 1,100 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Red Rock Resorts during the second quarter valued at about $92,000. 47.84% of the stock is currently owned by hedge funds and other 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.