Truist Financial Increases Red Rock Resorts (NASDAQ:RRR) Price Target to $60.00

Red Rock Resorts (NASDAQ:RRR) had its target price hoisted by Truist Financial from $58.00 to $60.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other research firms have also recently issued reports on RRR. Barclays raised their target price on Red Rock Resorts from $62.00 to $64.00 and gave the stock an overweight rating in a research note on Friday, April 19th. JMP Securities raised their target price 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. Bank of America raised their target price on Red Rock Resorts from $52.00 to $57.00 and gave the stock a buy rating in a research note on Monday, April 8th. Wells Fargo & Company raised their target price on Red Rock Resorts from $57.00 to $62.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Red Rock Resorts from $54.00 to $62.00 and gave the stock a buy rating in a research note on Wednesday, January 24th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Red Rock Resorts currently has a consensus rating of Moderate Buy and an average price target of $61.67.

Red Rock Resorts Stock Down 8.6 %

RRR opened at $54.12 on Tuesday. The company has a market cap of $5.69 billion, a P/E ratio of 18.35, a P/E/G ratio of 3.04 and a beta of 2.06. The business’s 50-day moving average price is $58.27 and its 200-day moving average price is $51.75. 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.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.40 by $0.55. The firm had revenue of $462.71 million for the quarter, compared to the consensus estimate of $440.75 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 earnings per share. On average, equities analysts expect that Red Rock Resorts will post 1.94 EPS for the current year.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. Red Rock Resorts’s payout ratio is currently 33.90%.

Insider Buying and Selling

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total value of $434,204.80. Following the sale, the chief financial officer now owns 243,808 shares in the company, valued at approximately $14,077,473.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 54.20% of the stock is currently owned by company insiders.

Institutional Trading of Red Rock Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in Red Rock Resorts in the 4th quarter valued at approximately $212,000. Core Wealth Partners LLC bought a new position in Red Rock Resorts in the 4th quarter valued at approximately $213,000. Malaga Cove Capital LLC bought a new position in Red Rock Resorts in the 3rd quarter valued at approximately $242,000. Valeo Financial Advisors LLC bought a new position in Red Rock Resorts in the 4th quarter valued at approximately $255,000. Finally, VELA Investment Management LLC bought a new position in Red Rock Resorts in the 4th quarter valued at approximately $256,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

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.