Red Rock Resorts (NASDAQ:RRR) Price Target Cut to $66.00 by Analysts at Mizuho

Red Rock Resorts (NASDAQ:RRR) had its price target decreased by Mizuho from $69.00 to $66.00 in a report released on Wednesday, Benzinga reports. Mizuho currently has a buy rating on the stock.

RRR has been the topic of several other research reports. Wells Fargo & Company lifted their target price on shares of Red Rock Resorts from $57.00 to $62.00 and gave the company an overweight rating in a report on Thursday, February 8th. Bank of America lifted their target price on shares of Red Rock Resorts from $52.00 to $57.00 and gave the company a buy rating in a report on Monday, April 8th. Truist Financial lifted their target price on shares of Red Rock Resorts from $58.00 to $60.00 and gave the company a hold rating in a report on Tuesday, April 23rd. JPMorgan Chase & Co. lifted their target price on shares of Red Rock Resorts from $63.00 to $69.00 and gave the company an overweight rating in a report on Monday, April 1st. Finally, Susquehanna lifted their target price on shares of Red Rock Resorts from $52.00 to $66.00 and gave the company a positive rating in a report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $61.75.

Red Rock Resorts Trading Down 7.6 %

Shares of Red Rock Resorts stock opened at $50.22 on Wednesday. Red Rock Resorts has a 1 year low of $37.82 and a 1 year high of $63.28. The company has a debt-to-equity ratio of 13.54, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market capitalization of $5.28 billion, a P/E ratio of 17.02, a PEG ratio of 2.81 and a beta of 2.08. The company’s fifty day moving average is $57.69 and its two-hundred day moving average is $52.50.

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

Insider Activity at Red Rock Resorts

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of Red Rock Resorts 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 owns 243,808 shares in the company, valued at $14,077,473.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 53.28% of the company’s stock.

Hedge Funds Weigh In On Red Rock Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC raised its position in Red Rock Resorts by 8.5% during the first quarter. ProShare Advisors LLC now owns 8,559 shares of the company’s stock worth $512,000 after acquiring an additional 674 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Red Rock Resorts during the first quarter worth about $78,000. Lisanti Capital Growth LLC acquired a new position in shares of Red Rock Resorts in the first quarter valued at approximately $2,260,000. SG Americas Securities LLC purchased a new position in shares of Red Rock Resorts during the first quarter valued at approximately $236,000. Finally, FORA Capital LLC boosted its position in Red Rock Resorts by 16.1% during the first quarter. FORA Capital LLC now owns 10,784 shares of the company’s stock worth $645,000 after acquiring an additional 1,492 shares during the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

About Red Rock Resorts

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.